Charlotte-based Kian Capital and its portfolio company, SPATCO Energy Solutions, have announced the acquisition of Greenville-based Blue1 Energy Equipment. The financial terms of the acquisition were not disclosed.
SPATCO Energy Solutions, backed by Kian Capital, provides infrastructure services across the petroleum, environmental, and electric vehicle (EV) sectors. This marks SPATCO’s first acquisition since the launch of Kian’s $230 million single-asset continuation fund to reinvest in the platform.
Blue1 Energy Equipment is a leading provider of storage and dispensing solutions, including petroleum, diesel exhaust fluid (DEF) equipment, propane autogas systems, and EV charging solutions. The company serves thousands of locations across North America, catering to a diverse range of clients, from petroleum distributors to government agencies.
Blue1’s DEF division is recognized as one of the nation’s top manufacturers of high-quality storage and dispensing equipment. The acquisition will expand SPATCO’s reach, growing its workforce to 1,050 employees across 16 states and 34 office locations.
Since 2016, Blue1 has partnered with Sourcewell, a cooperative purchasing organization, to offer turnkey fuel island solutions without the need for a bidding process. Blue1 has also secured two consecutive four-year contracts as an approved vendor for fleet fueling and equipment, serving state and local governments as well as educational institutions.
This acquisition enhances SPATCO’s capabilities and positions the company to better serve a broad spectrum of industries across the United States.
