Kian Capital-backed SPATCO buys petroleum equipment distributor Petro Supply

• Charlotte, North Carolina-based SPATCO is a supplier, installer and maintenance provider of turnkey solutions for fueling stations and EV charging infrastructure
• Petro Supply has combined with McKinney Petroleum Equipment, which was acquired in January 2023
• Petro Supply was founded in 1971 by Galen Heaps

SPATCO Energy Solutions, which is backed by Kian Capital, has acquired Petro Supply, a distributor of petroleum equipment in the Mid-Atlantic region. No financial terms were disclosed.

Petro Supply has combined with McKinney Petroleum Equipment, which was acquired in January 2023.

Petro Supply was founded in 1971 by Galen Heaps.

On the deal Kian co-founder and Partner Kevin McCarthy said in a statement, “Based on the progress made thus far and what is on the horizon, we believe SPATCO is uniquely positioned to address the challenge of maintaining and servicing the current fuel station infrastructure while rapidly deploying EV-charging capabilities. As technology continues to drive innovation in the energy infrastructure and equipment services industry, our focus will remain the same — on advancing the team while investing in cutting-edge technology, expanding service capabilities and broadening our geographic reach.”

Kian is SPATCO’s lead investor along with co-investors RF Investment Partners and Apogem Capital. Robinson, Bradshaw & Hinson, P.A. acted as Kian’s legal advisor.
Charlotte, North Carolina-based SPATCO is a supplier, installer and maintenance provider of turnkey solutions for fueling stations and EV charging infrastructure.

Kian Capital has $425 million of capital under management. The firm is focused on the consumer, services, value added distribution and specialty manufacturing sectors.