First Reserve to buy Refuel and West Oil
Summary
The cornerstone of the platform is an agreement to acquire Refuel, Inc. (“Refuel”), a South Carolina-based retail fuel distribution and convenience store chain with over a decade presence in this growth market. Mark Jordan CEO of Refuel, stated, “The motivating force behind Refuel’s brand has been a commitment to quality and service on behalf of our customers and employees. We are pleased to partner with Mark Jordan and Travis Smith to establish a new platform in what we believe is the highly fragmented retail fuel distribution sector. With 35 years of industry insight, investment expertise and operational excellence, the Firm has cultivated an enduring network of global relationships and raised approximately USD $31 billion of aggregate capital since inception. Its portfolio companies have operated on six continents, spanning the energy spectrum from upstream oil and gas to midstream and downstream, including resources, equipment and services, and associated infrastructure.