TorQuest Partners has sold its portfolio company 4Refuel, a provider of mobile on-site refueling services, to Kelso & Company. TorQuest invested in 4Refuel in July 2010 alongside its founder and members of the senior management team.
4Refuel is a provider of route-based mobile on-site refueling and fuel management services. Mobile on-site refueling (MOR) is the process of delivering fuel to a client’s location and fueling each piece of equipment directly. 4Refuel pioneered the MOR industry in Canada and serves approximately 2,500 private and municipal customers across a range of industries. The company was founded in 1995 and is headquartered in Langley, BC (www.4refuel.com).
TorQuest Partners makes equity investments of C$15 million to C$100 million in companies with enterprise values of C$40 million to C$250 million that are located in Canada and the US. The firm invests in a range of industries but has a particular interest in manufacturing, business services, financial services, food, consumer products and specialty chemicals. TorQuest was founded in 2002 and has over C$1 billion of equity capital under management. The firm is headquartered in Toronto (www.torquest.com).
William Blair & Company acted as the exclusive financial advisor to 4Refuel.
© 2013 PEPD • Private Equity’s Leading News Magazine • 10-8-13