M&A Deal Summary

First Reserve Acquires Refuel

On February 22, 2019, private equity firm First Reserve acquired distribution company Refuel

Acquisition Highlights
  • This is First Reserve’s 1st transaction in the Distribution sector.
  • This is First Reserve’s 69th transaction in the United States.
  • This is First Reserve’s 1st transaction in South Carolina.

M&A Deal Summary
Date 2019-02-22
Target Refuel
Sector Distribution
Buyer(s) First Reserve
Deal Type Buyout (LBO, MBO, MBI)

Target

Refuel

North Charleston, South Carolina, United States
website
Refuel is a retail fuel distribution and convenience store sector. Refuel was founded in 2008 and is based in North Charleston, South Carolina.

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Buyer(S) 1

Buyer

First Reserve

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 103 of 109
Sector (Distribution) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 60 of 62
State (South Carolina) 1 of 1
Country (United States) 69 of 73
Year (2019) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-16 LineStar

Pasadena, Texas, United States

LineStar provides a comprehensive suite of solutions which includes integrity maintenance, corrosion, and cathodic protection, coatings, GIS, control room operations, measurement and automation, and O&M compliance throughout the midstream value chain. LineStar was founded in 2018 and is based in Pasadena, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 Trillium

Glasgow, United Kingdom

Trillium specialises in the design and manufacture of valves, pumps, and controls for the global power generation, downstream oil & gas and industrial sectors. Trillium is based in Glasgow, United Kingdom.

Buy £275M
Mergr

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