Porter Hedges Represents Refuel in its Acquisition of Action Fuels
Porter Hedges represented Refuel Operating Co., LLC in its acquisition of Action Fuels LP, a San Antonio based wholesale and retail fuel distribution and convenience-store chain. Refuel’s acquisition includes nine convenience stores under the Buck’s brand.
The transaction represents the ninth acquisition for Refuel since establishing its partnership with First Reserve in May 2019. Porter Hedges recently represented Refuel in acquisition of Wag-A-Bag convenience stores based out of Austin, Texas. Refuel continues to expand its presence in the Texas market, and brings the total company-operated store count to 172 locations in North Carolina, South Carolina, Arkansas, Mississippi, and Texas.
Refuel is a Charleston, S.C.-based retail and wholesale fuel distribution and C-store business. It is an affiliate of First Reserve, a private equity investment firm focused on energy, and this acquisition is a growth platform focused on the retail fuel distribution and convenience sector.
Headquartered in San Antonio, Texas, Action Fuels LP was founded in 1984 and purchased in 1994 by current owners Boyd Bruchmiller, Brian Williams, and Chris Pipes.
For additional information, please see the related news story here.