REFUEL ANNOUNCES ACQUISITION OF BISHOPVILLE PETROLEUM
CHARLESTON, SC – June 27, 2019 –Refuel Operating Company, LLC (“Refuel”), a South Carolina-based retail fuel distribution and convenience store chain, today announced that it has completed the acquisition of Bishopville Petroleum Company, Inc. (“Bishopville Petroleum”). Refuel is a portfolio company of First Reserve, a leading global private equity investment firm exclusively focused on energy.
Bishopville Petroleum was founded in 1930 and is among the longest tenured distributors of Shell branded products in the United States. The Company, based in Bishopville, South Carolina, holds a well established wholesale motor fuels distribution and related transportation services business and owns and operates two high volume retail convenience stores. The transaction represents the third acquisition for the Refuel platform since formation in May 2019 and increases the total company operated store count to 33 stores, all of which are located in South Carolina. Green Deschamps, Owner and President of Bishopville Petroleum, is joining Refuel as Director of Wholesale and will continue to drive growth in the business.
Mark Jordan, CEO of Refuel, stated, “We are extremely pleased to announce the acquisition of Bishopville Petroleum. The transaction is highly complementary as it fits nicely into Refuel’s existing geographic footprint and is also consistent with Refuel’s overall focus on high quality stores with exceptional service. I have known and respected Green Deschamps for over a decade and look forward to working with him in growing the Refuel platform.”
Green Deschamps, Owner and President of Bishopville Petroleum, stated, “I am very excited with the sale of Bishopville Petroleum to Refuel. I am most impressed with Mark’s vision for the Refuel brand and the Bishopville team looks forward to joining Refuel to help grow the newly formed wholesale division.”
Financial details of the transactions were not disclosed.
Refuel is a growth platform focused on the highly fragmented retail fuel distribution and convenience store sector. Please visit www.refuelmarket.com for further information.