Plenoil

Sector Sector:

Distribution

Headquarters Headquarters:

Madrid

Investment Year of investment:

2024

Activity Activity:

Distribution

Transaction Transaction Type:

LBO

Turnover

Talde finances Tensile Capital Management and Portobello Capital on acquiring a majority stake in Plenoil

Plenoil (2013, Madrid) is the leading player in the low-cost gas station sector in Spain. It offers a unique value proposition to its customers, by also delivering electric charging through its modern, fully-automated service station network that enables a quick and seamless customer experience.

Its multi-energy platform accounts for 224 stations strategically located throughout Spain, entering Portugal this year. Plenoil has responded to consumer demand, transforming the service station market by providing energy at the best possible price, with the fastest possible delivery, the highest quality and maximum environmental efficiency.

Talde participates together with other financial entities in the syndicated loan arranged by Banco Santander. The funds will finance both Tensile and Portobello controlling stake into Plenoil’s capital structure. This will allow the company to accelerate its growth in Spain and Portugal, being able to reach more customers, while applying the latest technology and the most efficient organisation.

Acquisition finance LBO


Main drivers

The brand currently offers its customers more than 130,000 refuelings a day at its 224 service stations located throughout the Iberian Peninsula, the Balearic Islands and the Canary Islands. The company is now looking to grow to at least 500 outlets by 2027.

By the end of 2024, it has also set itself the challenge of offering electric vehicle charging at over 75% of its current network. More than 80% of points are already equipped with solar panels, which reduce their own energy consumption.

Strong cash flow generation and moderate-to-low leverage properly set the company to take a leading role in supporting energy transition over the next decade.

Plenoil

Strong positioning

Plenoil provides customers over 130,000 refuellings per day

Main figures

Market leader

Leader in the low-cost automated fuel retailer sector

Growth and profitability

Plenoil seeks to accelerate its growth plan and reach at least 500 stations by 2027

ESG objectives

Green energy consumption, with large offtake from own solar panels