Kian Capital Partners and Apogem Capital have closed a $230 million continuation fund aimed at reinvesting in SPATCO Energy Solutions, positioning the company for significant growth in the evolving fueling infrastructure market.

Information on the Target

SPATCO Energy Solutions is a prominent provider of fueling infrastructure services operating predominantly in the Southeast, Mid-Atlantic, and Southwest regions of the United States. Established in 1935, SPATCO offers comprehensive turnkey solutions tailored for both petroleum and electric vehicle (EV) charging infrastructure operators. The company caters to a diverse range of clients, including full-service convenience stores, fueling centers, municipalities, and commercial fleet operators, demonstrating a robust portfolio of services that supports their operational needs.

Since its inception, SPATCO has expanded significantly, with 33 locations across 16 states and a workforce of approximately 1,000 employees as of June 30, 2024. The company's strategic growth trajectory has been exemplified by a substantial increase in EBITDA, driven by multiple acquisitions and the opening of new branches. Under the leadership of CEO John Force, who has over 20 years of experience at SPATCO, the company has emerged as one of the leading providers in its sector, known for its customer-centric approach and highly skilled technicians.

Industry Overview

The fueling infrastructure industry in the United States is experiencing significant growth, fueled by the increasing demand for both traditional fossil fuels and renewable energy sources such as electricity for charging EVs. As businesses and consumers seek more sustain