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M&A Deal Summary

Stonepeak Acquires Castrol

On December 24, 2025, infrastructure investor Stonepeak acquired chemicals company Castrol from BP for 10.1B USD

Acquisition Highlights
  • This is Stonepeak’s 1st transaction in the Chemicals sector.
  • This is Stonepeak’s largest (disclosed) transaction.
  • This is Stonepeak’s 5th transaction in the United Kingdom.

M&A Deal Summary
Date 2025-12-24
Target Castrol
Sector Chemicals
Buyer(s) Stonepeak
Sellers(s) BP
Deal Type Divestiture
Deal Value 10.1B USD

Target

Castrol

Sunbury-on-Thames, United Kingdom
Castrol is a global lubricants provider serving consumer automotive customers, as well as commercial and industrial end markets. The company works closely with its customers and consumers to develop and supply highly engineered lubricants for specific applications. It manufactures and markets engine oils, industrial fluids, and greases through approximately 20 blending plants and more than 100 third-party facilities and warehouses worldwide across 150 countries. Castrol is based in Sunbury-on-Thames, United Kingdom.

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Buyer(S) 1

Buyer

Stonepeak

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 73.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 47 of 47
Sector: Chemicals M&A 1 of 1
Type: Divestiture M&A Deals 7 of 7
Country: United Kingdom M&A 5 of 5
Year: 2025 M&A 4 of 4
Size (of disclosed) 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-23 TeleTower

Vilnius, Lithuania

TeleTower operates a diversified portfolio of more than 2,500 tower and rooftop sites across Lithuania and Latvia, with a strong presence in strategic locations in all major Lithuanian and Latvian cities. TeleTower was formed in 2009 and is based in Vilnius, Lithuania.

Buy -

Seller(S) 1

SELLER

BP

London, United Kingdom
Category Company
Founded 1908
Sector Oil/Gas Exploration
Employees87,800
Revenue 189.2B USD (2024)
DESCRIPTION
BP fuel station in Duluth, Minnesota.
BP fuel station in Duluth, Minnesota.

BP is an integrated oil and gas company with operations in Europe, the US, Canada, Russia, South America, Australasia, Asia and parts of Africa. BP provides customers with fuel for transportation, energy for heat and light, lubricants, and petrochemicals products used to make items as diverse as paints, clothes and packaging. BP was founded in 1908 and is based in London, England.

DEAL STATS #
Overall 18 of 18
Sector: Chemicals M&A 3 of 3
Type: Divestiture M&A Deals 11 of 11
Country: United Kingdom M&A 2 of 2
Year: 2025 M&A 2 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-12-09 BP Wind Energy North America

Houston, Texas, United States

BP Wind Energy North America is an operator of wind energy power plants and projects. BP Wind Energy North America was founded in 2007 and is based in Houston, Texas.

Sell -
Mergr

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