Finning International Inc (TSX: FTT), a Vancouver-based Caterpillar equipment dealer, has wrapped up its acquisition of 4Refuel LP, a Toronto-based provider of mobile on-site refueling services.
Finning paid about $260 million.
The sellers included U.S. private equity firm Kelso & Co, which acquired 4Refuel in 2013 from TorQuest Partners. The other owners were Penske Truck Leasing, TRP Capital Partners and Crescent Capital.
Founded in 1995, 4Refuel serves construction, transportation, oil and gas, power generation and other sectors in North America.
Finning Announces Completion of Acquisition of 4Refuel, the Canadian Leader in Mobile On-Site Refueling Services
VANCOUVER, British Columbia, Feb. 01, 2019 (GLOBE NEWSWIRE) — Finning International Inc. (TSX: FTT) (“Finning” or the “Company”) announced today that it has completed its previously announced acquisition of 100 percent of the companies operating as 4Refuel Canada and 4Refuel US.
Finning International Inc. is the world’s largest Caterpillar equipment dealer delivering unrivalled service to customers for 85 years. Finning sells, rents and provides parts and service for equipment and engines to help customers maximize productivity. Headquartered in Vancouver, B.C., the Company operates in Western Canada, Chile, Argentina, Bolivia, the United Kingdom and Ireland.
Vice President, Investor Relations and Corporate Affairs