Euro Garages valued at £1.3bn after selling minority stake

TDR Capital, the London-based investment firm which owns rival company European Forecourt Retail Group, has taken a minority stake in Euro Garages of Blackburn.

Euro Garages has a portfolio of over 340 sites across the UK including petrol stations and related shops. It also operates the Rivington services on the M61.

Mohsin and Zuber Issa will continue to lead the group and remain majority shareholders.

Founded in 2001, Euro Garages has grown from a single site to become one of the largest independent forecourt operators in the UK, and the largest owner-manager business in the sector. The business has grown through a series of successful acquisitions, with more than 170 sites acquired over the last few months. It also purchased 48 forecourts from Exxon Mobil's Esso unit last year.

The group currently manages sites under BP, Esso and Shell fuel brands and has developed strong partnerships with global brand partners including Starbucks, Subway, Burger King, SPAR, and Greggs.

Daniel Hall, of Eversheds who led the deal, said: “This deal underlines one of Britain's biggest business successes in recent years, and has propelled Euro Garages to become one of Europe's leading fuel retailers. As a team we are delighted to have helped Mohsin and Zuber achieve their ambitious growth plans. It was a pleasure to work together and we wish them all the best for the future.” Euro Garages and the Issa family were also advised by Rothschild (financial adviser). TDR Capital was advised by Linklaters (legal adviser).