Motor Fuel Group’s (MFG) owner Clayton Dubilier & Rice (CD&R) has kicked off plans to sell the UK’s biggest independent forecourts operator, Sky News first reported.
The private equity firm CD&R has invited this week investment banks to bid for a mandate to sell the company, which could be valued at £5bn.
The forecourts operator’s aim is to speed up the UK automotive industry’s electric transition, recently stating it would spend £50m on installing 350 rapid EV chargers across its forecourts.
According to banking sources, MFG’s green push could attract different types of investors, including infrastructure and oil companies, Sky News reported. A public listing of MFG is also being considered but seems less likely compared with the sale.
MFG is not the only high profile company owned by CD&R, as the private equity also owns supermarket chain Morrison’s.