H.I.G. Capital, a leading global alternative investment firm, has completed the acquisition of 4Refuel, a market leader in Mobile On-Site Refueling (MOR) services, from Finning International Inc.. The total purchase price of the transaction is up to $400 million.

4Refuel is a leading North American mobile refueling company that delivers wheel-to-wheel and bulk fuel to clients in essential industries such as transportation, construction, and waste management. With a workforce of approximately 650 employees, the company has demonstrated strong performance since being acquired by Finning in 2019, contributing significantly to free cash flow and shareholder returns.

The sale aligns with Finning’s strategy to focus on core dealership operations, enhance return on invested capital, and simplify its operational footprint. Proceeds from the transaction are expected to fund share repurchases, pay down debt, and support further investments in Finning’s primary business areas. Borden Ladner Gervais LLP acted as legal counsel to Finning, while CIBC Capital Markets served as the company’s financial advisor on the transaction.