Plenoil consolidates position with entry of two private equity fund shareholders
Cuatrecasas has advised Plenoil
’s partners on the transaction by which the private equity funds Tensile Capital Management
and Portobello Capital
have acquired a controlling interest in the service stations group. This transaction will enable the Spanish group to implement its expansion plan in Spain and Portugal.
Plenoil is the leading low-cost gasoline distributor in Spain, with annual sales of around 950 million liters and a €1.15 billion turnover in the last fiscal year. The group has 224 independent and completely automatic service stations, and aims to increase its market share.
The entry of these two prominent private equity funds in Plenoil’s share capital will be a great boost to strengthening the company’s business growth and expansion. Plenoil aims to reach 500 points of sale by 2027, enter the Portuguese market, and implement a charging network for electric vehicles at its stations.