American alternative investment firm, Stonepeak, has closed its acquisition of a 75 per cent interest in Australian integrated commercial fuel and logistics provider, IOR.
Previously announced in April of this year, Stonepeak’s investment into IOR further enables the fuel and logistics provider to establish itself as essential to Australia’s fuel distribution value chain.
This investment has positioned IOR to continue its business legacy of prioritising local, hands-on relationships with customers and suppliers while continuing to provide solutions for the broader industry.
Additionally, Stonepeak’s investment allows IOR to provide customers with access to fuel in even more locations through an extensive network of commercial distribution channels and proprietary technology solutions.
King & Wood Mallesons served as legal counsel and Macquarie Capital served as financial advisor to Stonepeak, while Gilbert & Tobin served as legal counsel and Miles Advisory Partners served as financial advisor to IOR.
