Plenoil consolidates position with entry of two private equity funds in share capital

2024-01-17T17:32:00
Spain Portugal

Plenoil consolidates position with entry of two private equity fund shareholders

Plenoil consolidates position with entry of two private equity funds in share capital
January 17, 2024
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.

Partner José Luis Rodriguez (Corporate and M&A) led this transaction, with the participation of partner Julio Brasa (Public Law), Pedro López-Dóriga, Alberto Cortegoso, Miguel Ángel Castaño, Ricardo Ramírez-Montesinos and Pablo del Moral.
January 17, 2024