Press releases | Corporate and M&A, Private Equity & Financial Sponsors | 08 Jun 2015

£500m sale of Motor Fuel Group by Patron Capital

Overview

Travers Smith LLP has advised Patron Capital, the pan-European institutional investor, on the sale of Motor Fuel Group (MFG) to funds managed by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal, which is valued at approximately £500 million, is expected to complete in July.

St Albans-based MFG, which was acquired by Patron Capital in 2011, is the second largest independent petrol and convenience retailer in the UK. Through a series of strategic acquisitions, MFG has grown from 48 sites in 2011 to a current total of 373 sites. In addition, the company operates a dealer network of more than 200 sites which trade under the BP, Shell, Texaco and Jet brands. The company generated over £1bn of pro forma sales in 2014, and was this year ranked ninth in the Sunday Times Profit Track 100 list, which ranks private companies by profit growth.

The Travers Smith team which advised Patron Capital was led by private equity partner Edmund Reed, who was assisted by senior corporate associate Alex Dixon.

Simon Tinkler of Clifford Chance advised CD&R and Tom Leman of Pinsent Masons advised MFG.

Patron Capital is a long-standing client of Travers Smith, who last year advised Patron Capital on the sale of Gracewell Healthcare.