M&A Deal Summary

Kelso and TRP Capital Partners Acquire 4Refuel

On October 4, 2013, private equity firms Kelso and TRP Capital Partners acquired energy services and equipment company 4Refuel from TorQuest Partners

Acquisition Highlights
  • This is Kelso’s 6th and TRP Capital Partners’ 1st transaction in the Energy Services and Equipment sector.
  • This is Kelso’s 6th and TRP Capital Partners’ 1st transaction in Canada.
  • This is Kelso’s 1st and TRP Capital Partners’ 1st transaction in British Columbia.
Investment Fate
  • 4Refuel was sold to a publicly-traded strategic buyer in 2018 for 260M USD.
  • 4Refuel was divested to a consortium of buyers in 2025.

M&A Deal Summary

Date 2013-10-04
Target 4Refuel
Sector Energy Services and Equipment
Buyer(s) Kelso
TRP Capital Partners
Sellers(s) TorQuest Partners
Deal Type Secondary Buyout
Advisor(s) William Blair (Financial)

Target

4Refuel

Langley, British Columbia, Canada
4Refuel is a mobile on-site refueling (MOR) provider in Canada and Texas. The Company delivers approximately one billion liters of fuel annually to over 3,000 customers across rail, transportation & logistics, consumer goods, infrastructure, building products, and other critical industries. 4Refuel Canada was formed in 1995 and is based in Langley, British Columbia.

Search 215,029 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 2

Buyer

Kelso

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 15.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kelso & Company is a private equity and investment management firm that seeks control investments in middle-market companies operating primarily throughout the US. Sectors of interest include manufacturing, communications, media, distribution, service, consumer products, retail, healthcare, transportation, logistics, textiles, & apparel, chemicals, and energy. Kelso looks to align 'management's interest with those of investors' when considering opportunities. Kelso & Company was formed in 1971 and is based in New York City.


DEAL STATS #
Overall 50 of 81
Sector: Energy Services and Equipment M&A 6 of 6
Type: Secondary Buyout M&A Deals 8 of 22
State: British Columbia M&A 1 of 1
Country: Canada M&A 6 of 6
Year: 2013 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-15 SiriusPoint

Pembroke, Bermuda

SiriusPoint is a provider of various specialty property and casualty reinsurance products. SiriusPoint was founded in 2011 and is based in Pembroke, Bermuda.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-22 Helios

Tampa, Florida, United States

Helios provides management of pharmacy benefits, durable medical equipment, home health care, and other ancillary services for workers’ compensation and auto no-fault insurance companies.

Buy -
Buyer

TRP Capital Partners

Birmingham, Michigan, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

TRP Capital Partners is a private investment firm focused on opportunities within the transportation industry. Specific areas of interest include auto dealerships, education/training, outsourced services, niche manufacturing, environmental, and distribution/logistics. The Firm prefers to control situations and targets companies valued from $25 to $250 million. TRP Capital Partners was formed in 1997 and is based in Birmingham, Michigan.


DEAL STATS #
Overall 12 of 19
Sector: Energy Services and Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 6 of 6
State: British Columbia M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-26 HomeDirect USA

Hillside, Illinois, United States

HomeDirect USA, Inc. is a supply chain company providing transportation services and delivery and assembly of large consumer goods directly into consumers’ homes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-13 Commonwealth Laminating & Coating

Martinsville, Virginia, United States

SunTek Holding Co. is a designer, manufacturer and distributor of window film to the automotive, residential and commercial markets. The company employs state-of-the-art manufacturing methods and equipment to produce a broad line of window film products, which it distributes directly to dealers through centers in Martinsville, Houston, Phoenix and Dania Beach, Florida. The Company also accesses the international market via a network of established distributors.

Sell -

Seller(S) 1

SELLER

TorQuest Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 3.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TorQuest Partners is a Canadian mid-market private equity firm. TorQuest invests in established companies that deal in manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. Prospective transaction situations include family successions, recapitalizations, corporate carve-outs, and buyouts. Torquest targets businesses valued from C$40 to C$250 million where the firm can commit C$20 to C$100 million. TorQuest Partners was formed in 2002 and is based in Toronto.


DEAL STATS #
Overall 8 of 28
Sector: Energy Services and Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 10
State: British Columbia M&A 1 of 1
Country: Canada M&A 6 of 22
Year: 2013 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-08 Associated Brands

Mississauga, Ontario, Canada

Associated Brands LP is a manufacturer and supplier of private label packaged food products that sells to almost all of the 50 largest North American food retailers.

Sell $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-02 Kissner Milling Co.

Cambridge, Ontario, Canada

Kissner Milling Co., Ltd. is a producer and distributor of bulk rock salt and packaged specialty deicing products across North America. Kissner was formed in 1878 and is based in Detroit, Michigan.

Buy -