Patron Capital is selling a UK petrol stations platform for 拢500m (鈧�679m).
Private investment firm Clayton, Dubilier & Rice said it will buy the Motor Fuel Group for funds it manages from Patron Capital.
Motor Fuel Group鈥檚 management is partnering the buyer in the deal, which is expected to close in July.
Patron bought a 87% stake in initial 48 sites in 2011 for its Fund IV, paying 拢28.3m, according to previous documents.
The firm then grew the group鈥檚 portfolio to 373 sites. Patron said the company last year generated more than 拢1bn.
Motor Fuel Group also operates a dealer network of more than 200 sites under the BP, Shell, Texaco and Jet brands and have retail partnerships with Costcutter and Costa Coffee.
Stephen Green, senior partner at Patron, said the firm had taken a 鈥渃omplex property-backed business鈥� and transformed it into a 鈥渟table, profitable operating platform with potential for future growth鈥�.
Motor Fuel Group鈥檚 chairman, Alasdair Locke will keep his role. Sir Terry Leahy, former chief executive of Tesco is joining the firm鈥檚 board.
