Following acquisition Refuel Convenience Stores to grow from five to 31 locations.
First Reserve, a Texas-based private equity firm has acquired Charleston, S.C., based Refuel Convenience Store chain, which operates five c-stores, and plans to immediately expand the chain.
According to the Charleston Post and Courier, First Reserve also acquired 26 additional c-stores under the banners Markette and West Oil from Hartsville, S.C.-based West Oil Inc., and plans to rebrand and upgrade these sites as Refuel Convenience Stores
The former owner of Refuel Convenience Stores, Mark Jordan, who opened the first Refuel gas station in 2008, is set to helm the new 31-store venture as CEO of Refuel, along with business partner Travis Smith.
The transactions are expected to close in the first half of 2019.