Finning to acquire Kelso-owned 4Refuel for $260 mln
Finning International Inc (TSX: FTT) has agreed to acquire 4Refuel LP, a Toronto-based provider of mobile on-site refueling services. The purchase price is about $260 million. The deal is expected to close early in 2019. The sellers include U.S. private equity firm Kelso & Co, which acquired 4Refuel in 2013 from TorQuest Partners. The other owners are Penske Truck Leasing, TRP Capital Partners and Crescent Capital. Founded in 1995, 4Refuel serves the construction, transportation, oil and gas, power generation and other sectors in Canada and the United States. Finning, a Vancouver-based Caterpillar equipment dealer, said the acquisition will allow it to provide additional services to new and existing customers.
10 December 2018•4 mins read
