CD&R picks up Patron's Motor Fuel for £500m

Following the deal, Sir Terry Leahy – senior adviser to CD&R, former CEO of Tesco and current chair of B&M Retail – has joined the company's board.

CD&R will look to further expand Motor Fuel's portfolio of petrol and convenience retail outlets.

Previous investment
Patron acquired MFG in December 2011, as part of a management buy-in with a management team comprising members of Scottish Capital Group. Oil industry veteran Alasdair Locke also invested in the transaction, which was reported to be worth £40m. At the time of the deal, the company operated 48 sites.

In August 2014, Patron supported the company's acquisition of Murco Petroleum's retail assets in a deal thought to be worth around £200m.

Company
Motor Fuel Group operates 373 petrol and convenience sites in the UK. It also operates a dealer network of 200 sites, which trade under the BP, Shell, Texaco and Jet brands and have retail partnerships with Costcutter and Costa Coffee.

The group generated sales of £1bn in 2014.

People
Stephen Green is senior partner at Patron. David Novak and Marco Herbst are partners at CD&R. Alasdair Locke is chair of MFG.

Advisers
Equity – Clifford Chance (Legal); Debevoise & Plimpton (Legal); EY (Financial due diligence); OC&C (Commercial due diligence).
Vendor – Travers Smith (Legal).
Company – Pinsent Masons (Legal).

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• Clayton Dubilier & Rice
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