Archer Capital's Ausfuel plans consolidation merger
Ausfuel Group, a fuel and lubricants distributor in Australia, 75% owned by local buyout firm Archer Capital since May this year, is in talks with Gull Petroleum, a Perth-based petroleum retailer, to consolidate the two companies in a deal valued at some A$500 million ($455 million).
Before Archer, Ausfuel was owned by local PE firm AMP Capital Investors. The tentative merger emerged in the context of ongoing consolidation in the Australasian fuel refining and sales industry. Combining the two entities would create more than 130 owned and operated service stations across Western Australia, Queensland, the Northern Territory and New Zealand. As this trend continues, there may be further plans to enlarge the Ausfuel and Gull businesses by buying International Energy Services, a fuel transport business owned by CHAMP Private Equity, currently being offered for sale by JPMorgan.
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