SPATCO Energy Solutions, an infrastructure services provider for petroleum, environmental and electric vehicle (EV) market segments, has completed the acquisition of Blue1 Energy Equipment.
This is the first acquisition the company has made in partnership with its lead investor, Kian Capital, since the recently announced $230 million single-asset continuation fund to reinvest in the platform.
Blue1 is a fully integrated provider of storage and dispensing equipment, including fueling solutions such as petroleum, diesel exhaust fluid (DEF) equipment, propane autogas systems and EV charging solutions. The company’s products serve thousands of locations across North America and numerous end markets, including petroleum distributors, fuel providers, jobbers, convenience stores, national fleets and federal, state, county and city governments.
The partnership expands SPATCO’s reach across the United States, now with 1,050 employees in 16 states and 34 office locations.
“SPATCO has built a well-earned reputation for reliable, high-touch service focused on innovation and forward-thinking, which is especially important in the dynamic industry we both serve,” said Blue1 President Tom Nuckolls, who will join SPATCO as director of DEF. “The team at Blue1 is proud to join forces with SPATCO and continue to prioritize our shared focus on highly efficient operations, superior installation services and excellent customer service and satisfaction.”
Since 2016, Blue1 has offered turnkey fuel island solutions for members of Sourcewell, a cooperative purchasing organization, in partnership with the company’s extensive network of distributors and installation contractors across the country. Sourcewell has more than 80,000 member agencies that enjoy the value and commitment of world-class, selected vendors like Blue1 without having to go through a bidding process. Additionally, Blue1 has been awarded two consecutive four-year contracts serving the state government, local government, K-12 and higher education as an approved vendor in fleet fueling and equipment.
“The addition of Blue1 to the SPATCO platform will allow us to deepen our presence in the DEF subsector and open doors to an additional customer base,” said SPATCO CEO John Force. “DEF equipment and storage is a rapidly growing industry and is primed to take advantage of increased green initiatives and higher mileage requirements for diesel engines. This powerful combination of two leaders in the industry will position SPATCO as the ‘go-to’ provider of equipment and transportation solutions for the fleet fueling industry.”
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