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MRH (GB)

Essex headquartered MRH, is a leading independent owner operator of petrol filling stations in the UK.

The business owns and operates forecourts under a number of oil company brands and the MRH brand “Torq”.

MRH has grown rapidly since it was established as Malthurst in 1997, acquiring the operations of Kuwait Petroleum GB in 2004 followed by further site acquisitions from Texaco, BP and Esso.

MRH has materially grown site numbers, market share and EBITDA. Volume outperformance has been driven by a combination of site acquisitions and proactive volume initiatives instigated by a highly experienced management team.

VALUE CREATION

During the investment period, Equistone has worked closely with the management team to support growth by:

  • The recent acquisition of 78 sites from Esso.
  • Implementing a shop enhancement programme, which has resulted in MRH establishing “Hursts”, its own convenience retail brand and growing its fast food offering with branded partners including Subway and Costa Coffee.
  • Enhancing the IT systems deployed within the business.
  • Expanding its portfolio of sites across England and Scotland from c. 300 in 2008 to over 450 in 2016.

THE EXIT

Equistone completed the sale of its Fund III investment in MRH to funds managed by Lonestar.

HOLDING PERIOD

Mar 2008 - Jan 2016

Country

UK

Business Description

Consumer Services

Revenue Progression

-

Employees at ACQ.

100

Investment Type

Equity Release