From GlobeNewswire: 2025-05-08 22:00:00

Finning International Inc. has entered into an agreement to sell its mobile on-site refueling business, 4Refuel, to H.I.G. Capital for up to $400 million. The total implied transaction value is approximately $450 million, including leases and other indebtedness. The sale will allow Finning to focus on maximizing product support, lowering SG&A, and creating growth around core dealership operations. The net proceeds will be used for share repurchases and to reinvest in core operations. The Transaction is expected to close in the third quarter of 2025, subject to regulatory approvals. In a separate deal, Finning is also selling Compression Technology Corporation for $40 million.

4Refuel and ComTech generated over $190 million in net revenue in 2024, with $72 million EBITDA and $37 million EBIT. Borden Ladner Gervais LLP and CIBC Capital Markets advised on the sales. Finning, the largest Caterpillar dealer, aims to simplify operations and enhance earnings through the divestitures. The company plans to use the proceeds to strengthen its core dealership operations. The sale aligns with Finning’s strategy to streamline operations and improve financial performance. The Transaction is subject to customary closing conditions and is expected to be accretive to earnings per share.



Read more at GlobeNewswire: Finning to sell 4Refuel