M&A Deal Summary

H.I.G. Private Equity Acquires 4Refuel

On July 1, 2025, private equity firm H.I.G. Private Equity acquired energy services and equipment company 4Refuel from Finning

Acquisition Highlights
  • This is H.I.G. Private Equity’s 8th transaction in the Energy Services and Equipment sector.
  • This is H.I.G. Private Equity’s 17th transaction in Canada.
  • This is H.I.G. Private Equity’s 3rd transaction in British Columbia.

M&A Deal Summary

Date 2025-07-01
Target 4Refuel
Sector Energy Services and Equipment
Buyer(s) H.I.G. Private Equity
Sellers(s) Finning
Deal Type Divestiture

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.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.


DEAL STATS #
Overall 381 of 383
Sector: Energy Services and Equipment M&A 8 of 8
Type: Divestiture M&A Deals 47 of 48
State: British Columbia M&A 3 of 3
Country: Canada M&A 17 of 17
Year: 2025 M&A 10 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-09 ITH Group

London, United Kingdom

ITH Group specialises in the provision of aseptic compounding services for NHS and private customers, with a particular focus on chemotherapy, total parenteral nutrition, and central intravenous additive services. ITH Group was founded in 2008 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-09-30 Rentokil Initial s France Workwear business

France

Rentokil Initial's France Workwear business specialises in the supply and maintenance of garments, such as workwear and personal protective equipment. Rentokil Initial's France Workwear business is based in France.

Buy €410M

Seller(S) 1

SELLER

Finning

Surrey, British Columbia, Canada

Category Company
Founded 1933
Sector Machinery
Employees15,279
Revenue 11.2B CAD (2024)
DESCRIPTION

Finning is an operator that sells, rents, and services caterpillar equipment and engines, along with related parts and performance solutions. Finning was founded in 1933 and is based in Surrey, Canada.


DEAL STATS #
Overall 3 of 3
Sector: Energy Services and Equipment M&A 1 of 1
Type: Divestiture M&A Deals 3 of 3
State: British Columbia M&A 2 of 2
Country: Canada M&A 2 of 2
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-22 Hydraquip Hose & Hydraulics

Rochester, United Kingdom

Hydraquip Hose & Hydraulics is a hydraulic hose replacement and repair company serving more than 4,000 customers across a diverse range of industries, including construction, power systems, transportation, waste management, utilities, manufacturing, and materials handling. Hydraquip Hose & Hydraulics is based in Rochester, United Kingdom.

Buy £65M