KKR has launched the sale of Central Tank Terminal, a Japan-based fuel storage operator, according to three sources familiar.

Teasers were distributed to prospective suitors last month, the sources said.

The company operates 12 tank terminals in Japan and one in South Korea, with an aggregate capacity of 799 million litres, the teaser shows. Additionally, it operates two grain silo terminals with 664 metric tonnes of capacity in South Korea.

The target is being marketed with an adjusted 2025 EBITDA of USD 52m and USD 123m in 2025 revenue, according to the teaser.

In 2025, the Japan tank terminals accounted for 65% of revenue and 57% of EBITDA, the teaser shows. South Korean grain silos and tank terminals contributed the remainder: 26% and 17% to EBITDA, respectively; 19% and 16% to revenue respectively.

Around 80% of revenue is contracted with over 10-year customer relationships. The company’s tanks enjoy a roughly 100% utilisation rate, per the teaser.

In Japan, the company’s properties are located in Kawasaki, Yokohama, Nagoya, Oigawa, Kobe, Osaka, Hiroshima, and Moji. In South Korea, its facilities are situated in Pyeongtaek and Ulsan, the teaser shows.

The target could fetch roughly USD 350m in enterprise value, although the sellside may seek more, as reported.

Nomura is the running sellside.

Central Tank Terminals is 100% owned by KKR. Established in 1966, the Tokyo-headquartered company stores and warehouses petroleum products and chemicals.

Through the maiden KKR Asia Pacific Infrastructure Fund, the US manager acquired Central Tank Terminal in 2021 from an affiliate of Macquarie Infrastructure and Real Assets.

KKR and Nomura declined to comment. Central Tank Terminal could not be reached for comment.