HIG Capital Successfully Acquires 4Refuel for Up to C$400 Million
In a significant move, private equity firm H.I.G. Capital has acquired 4Refuel, a leading provider of Mobile On-Site Refueling services, for up to C$400 million. The acquisition aims to accelerate growth for 4Refuel through organic initiatives and strategic acquisitions.
Founded near Toronto in 1995, 4Refuel delivers around one billion liters of fuel annually and serves over 3,000 customers across Canada and Texas. With a strong focus on service, safety, and technology, the company has built a reputation as a trusted brand in the energy sector.
Larry Rodo, CEO of 4Refuel, expressed gratitude to the team for their contributions to the company's success. He is confident that H.I.G. Capital's deep sector expertise and proven playbook for value creation will propel 4Refuel to new heights.
Matt Kever, Managing Director at H.I.G. Capital, shared the firm's growth strategy for 4Refuel. It includes enhancing operational efficiency and service quality, expanding the customer base, making strategic acquisitions, and investing in technology to improve service reliability and customer satisfaction. This approach will help maintain 4Refuel's market position, expand its reach, and continue delivering best-in-class refueling services while pursuing new opportunities to serve customers across Canada and the U.S.
Blake, Cassels & Graydon and McDermott Will & Emery served as legal counsel to H.I.G. Capital in the acquisition of 4Refuel. The deal underscores H.I.G. Capital's commitment to investing in high-quality businesses and supporting their growth strategies.
With $70 billion in capital, H.I.G. Capital is well-positioned to drive growth and create value for 4Refuel. The acquisition marks an exciting new chapter for the company as it seeks to solidify its position as a leader in the mobile refueling sector and expand its footprint in the energy market.
The acquisition by H.I.G. Capital, with its immense amount of capital, will enable 4Refuel to further its growth strategies, particularly through strategic acquisitions in the finance sector.
Matt Kever's growth strategy for 4Refuel explicitly includes investing in technology, a move that could potentially revolutionize the company's finance landscape.
