New PE-backed fuel platform targets family businesses
New York-based private equity firm Brenton Point Capital Partners recently formed Continental Fuel Group to focus on acquiring and growing commercial fuel distributors across the Midwest, Mid-Atlantic, and Southeast U.S.
The new company is led by CEO Rob Lewis and chairman Vincent Harnett, the former Penske Logistics president who brings extensive operational leadership experience in the logistics and fleet services sectors.
“I’ve spent 25 years running fuel businesses, growing them, and eventually selling them,” Lewis said in a news release. “I know what these businesses mean to their owners and their employees, and how deep their relationships with their customers are. We’re not a financial buyer looking to strip costs. We’re operators looking to build solid businesses for the long term.
“When we buy a business, we keep the name, the team, and the customer relationships. We just make it stronger.”
Continental now is pursuing acquisitions of established fuel distribution businesses in the bulk, on-site, mobile fueling, and wholesale delivery sectors, the company reported. Continental is backed by committed capital and brings deep experience in fuel distribution, logistics, and transportation. The company is focused on working with owners who are ready for their next chapter, whether pursuing a full exit, stepping back from day-to-day operations, or remaining involved as an equity partner in a larger organization. Continental said it plans to preserve local brands, teams, and relationships, while providing centralized fuel purchasing, back-office infrastructure, fleet resources, and investments in technology.
The group is targeting commercial fuel distributors that serve business end-users, including construction, agriculture, transportation, marine, rail, municipalities, and fleet operators.
“Rob and Vince have run businesses like the ones we’re looking to invest in. They understand what owners have built and what matters to them,” said Tim Hall, Brenton Point managing partner. “Our backing and their operating experience gives owners a genuine alternative to the typical private equity transactions and is one where the business, the people, and the legacy are protected.”