H.I.G. Capital Acquires 4Refuel From Finning
H.I.G. Capital, a global alternative investment firm with $70 billion of capital under management, announced that one of its affiliates has completed the acquisition of 4Refuel, a market leader in Mobile On-Site Refueling (MOR) services, from Finning International Inc., for a total purchase price of up to CAD $400 million.
Founded in 1995 and headquartered near Toronto, 4Refuel is led by an experienced management team that has built a leading platform across Canada, with a growing presence in Texas. Serving more than 3,000 customers across a diverse range of sectors, 4Refuel provides mobile fueling solutions specializing in direct-to-equipment, on-site refueling, diesel exhaust fluid, and tank monitoring services. 4Refuel delivers approximately one billion liters of fuel annually, through an expansive network of facilities and specialized vehicles. 4Refuel's commitment to service, safety, and technology has driven strong customer retention and satisfaction.
"4Refuel is a scaled, differentiated, technology-enabled platform operating in a mission-critical segment of the energy value chain,” said Matt Kever, H.I.G. managing director. “We are excited to partner with Larry and the 4Refuel team to accelerate growth through organic initiatives and strategic acquisitions, while continuing to deliver outstanding service and value to its customers."
"H.I.G. brings deep sector expertise and a proven playbook for value creation,” said Larry Rodo, CEO of 4Refuel. “We're excited to continue our mission of delivering best-in-class refueling services, while pursuing new opportunities to serve our customers across Canada and the U.S. We are grateful to our incredible team, who have built 4Refuel into the trusted brand it is today."
Blake, Cassels & Graydon LLP and McDermott Will & Emery LLP served as legal counsel to H.I.G. Capital.
For more information about 4Refuel, visit 4Refuel.com. For more about Finning, the world’s largest Caterpillar dealer, visit finning.com.
H.I.G. Capital is based in Miami, with offices in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco and Stamford, Conn., and multiple international cities. Visit hig.com for more information.
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.