Porter Hedges Represents Refuel in its Acquisition of Convenience Stores from Embark Energy

Firm News

Porter Hedges represented Refuel Operating Co., LLC (“Refuel”) in its acquisition of certain assets of Embark Energy LLC (“Embark”), an Austin based wholesale and retail fuel distribution and C-store chain. The transaction includes 11 company-owned and operated convenience stores under the Fast Break brand, along with four company-owned, dealer-operated locations.

The transaction represents the eleventh acquisition for Refuel since establishing its partnership with First Reserve in May 2019. Porter Hedges also recently represented Refuel in two separate deals: the acquisition of Action Fuels and the acquisition of Wag-A-Bag convenience stores. Refuel continues to expand its presence in the Texas market, and this transaction brings the company-operated store count to 185 locations across 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 a portfolio company of First Reserve, a global private equity investment firm with a focus on the energy and industrial value chains.

Based in Austin, Texas, Embark, a wholesale and retail fuel distribution and C-store chain, was founded in 1996 by current owners Ismail Ali, Iqbal Ali, and Mohammed Ali.

For additional information, please see the related news story here.