UK: Patron Capital Acquires MFG
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Tuesday, 10 January 2012 |
Independent fuel retailer Motor Fuel Group (MFG) has been bought by Patron Capital, a private equity firm specialising in property backed investments. Industry veteran Alaistair Locke has been recruited to head a new management team at the firm.
MFG operates 58 fuel service stations – branded as BP, Shell, Esso Total and Jet – nationwide, making it the fifth-largest independent operator in Britain. The company had recently been the subject of a mangement buy-out led by Chief Executive Officer William Bannister.
Bannister said he and his team were optimistic about the future. “MFG is a great business that we see forming a sound platform for significant expansion in the UK fuel forecourt sector. These are challenging times but I am sure that with the strong financial backing we enjoy and with our new, high calibre management team, we have a combination that has tremendous potential,” he remarked.
PetrolWorld 10012012
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