Kian Capital Partners, a middle-market focused private investment firm, it has completed a majority recapitalization of Spatco Energy Solutions, a fueling equipment and services provider in the Southeast, in September and closed on two add-on acquisitions—The Southern Company of North Little Rock in December and Adams Tank & Lift in July. Both are single-source petroleum providers in Arkansas and Florida, respectively.
“Kian’s partnership, along with our buy-and-build strategy and success with adding these two companies, will continue to help us innovate and scale, creating opportunity for our team members, customers, vendors and communities,” said president & CEO of Spatco John Force. “After working with and getting to know the Kian team over the past several years, we are confident that they will empower us with the additional resources and expertise we need to maximize our company’s potential. Together we are laser-focused on continuing to grow our business, invest in our people and better serve our customer base with cutting-edge technology, expanding capabilities and broader geographic reach.”
“Technology is driving innovation in the fuel and equipment services industry, forcing providers to keep up with the demand and prompting consolidation in the space,” said co-founder and partner at Kian Kevin McCarthy. “SPATCO is on the leading edge of technology. Our history with Spatco allowed us to move confidently and quickly to execute a buy-and-build growth strategy that has already been very successful because of Spatco’s strong reputation in the industry. We look forward to the next chapter and are thrilled to provide the resources and support the management team needs to help them scale.”
Kian is Spatco’s lead investor along with co-investors RF Investment Partners and PA Capital. Robinson, Bradshaw & Hinson PA acted as Kian’s legal advisor.