Paris-based private equity Ardian is buying a stake in LBC Tank Terminals, a chemical storage facility operator, for an undisclosed amount. LBC marks the third U.S.-focused investment by the Ardian infrastructure division in recent months.

LBC is an independent owner of bulk liquid storage operations used to store petrochemicals, petroleum products and base oil products. The target is headquartered in Belgium with multiple facilities across the U.S., Europe and China. LBC also offers loading and unloading services for a variety of transportation capabilities. The deal comes as LBC shifts its business strategy toward the expansion of its facilities in the U.S. and Europe.

”LBC is a unique company with fantastic value creation potential,” states Ardian’s head of infrastructure Mathias Burghardt. “Our LBC investment illustrates the existing potential for long term investors like Ardian in the US infrastructure market.”

Dominique Senequier founded the private equity group of French insurer Axa in 1996 and spun it off in 2013, renaming it Ardian. Today, the global firm boasts more than $62 billion in assets under management. Ardian will own a 35 percent stake in LBC at the close of deal, joining current shareholders APG and PGGM. Ardian has 130 companies in its current portfolio to date, including: SLV, Air Medical Group Holdings, Esim Chemicals, HR Path, IMV Technologies, and PetSmart Inc.

The PE firm recently bought SLV, a maker of residential and commercial lighting fixtures, from Cinven Group Ltd; and tapped Seven Mile Capital Partners to establish a direct investment business to expand its presence in North America. Earlier in 2016, Ardian raised its fourth infrastructure Fund IV with $2.88 billion to back European infrastructure companies. In 2015, Ardian raised its fourth co-investment fund with $1.17 billion as well as a $2.25 billion European debt fund. In 2014, the firm purchased a $1.3 billion limited partnership portfolio from GE, which consists of limited partner interests in U.S. buyout funds.

Other infrastructure deals include: GI Partners‘ purchase of data facility Komo Plaza for $276 million; Blue Wolf Capital Partners LLC’s acquisition of Tenon Holding’s North American building products business Nacs USA Inc.; and Jaguar Growth Partners’ first real estate private equity fund to target real estate investments.