H.I.G. Capital, a global leader in alternative investments with $70 billion in capital under management, announced that one of its affiliates has completed the acquisition of 4Refuel, a market leader in Mobile On-Site Refueling (MOR), from Finning International. The transaction is valued at up to CAD 400 million.
Founded in 1995 and headquartered near Toronto, Ontario, 4Refuel has become a premier provider of mobile fueling solutions across Canada, with a growing footprint in Texas, United States. The company supports over 3,000 customers across industries, offering services such as direct-to-equipment refueling, diesel exhaust fluid delivery, tank monitoring, and other critical fueling solutions.
With an expansive infrastructure that includes a robust fleet of specialized vehicles and strategically located facilities, 4Refuel distributes approximately one billion liters of fuel annually. The company’s unwavering focus on safety, service excellence, and technology innovation has driven strong client loyalty and positioned it as a trusted partner in the energy services sector.
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“4Refuel is a scaled, differentiated, technology-enabled platform operating in a mission-critical segment of the energy value chain. We are excited to partner with Larry and the 4Refuel team to accelerate growth through organic initiatives and strategic acquisitions, while continuing to deliver outstanding service and value to its customers,” said Matt Kever, Managing Director at H.I.G.
“H.I.G. brings deep sector expertise and a proven playbook for value creation. We’re excited to continue our mission of delivering best-in-class refueling services, while pursuing new opportunities to serve our customers across Canada and the U.S. We are grateful to our incredible team, who have built 4Refuel into the trusted brand it is today,” added Larry Rodo, CEO of 4Refuel.