LOUISVILLE, Ky. and KINGSTON, Jamaica, Jan. 3, 2013 (GLOBE NEWSWIRE) -- Louisville-based Blue Equity, LLC announced today that Blue Equity has closed a transaction with the Rubis Group (NYSE Euronext Paris:RUI) for the sale of The Antilles Group Limited ("TAG"), the licensed user of Shell brands in the country of Jamaica. The transaction was finalized at the end of 2012 for an undisclosed amount.
In 2011, Blue Equity, LLC purchased controlling interest in The Antilles Group Limited f/k/a Cool Petroleum pursuant to agreements through which Blue Equity acquired Neal and Massy Holdings, Ltd's (TTSE-NML) stake in Cool Petroleum and an undeclared number of Cool Petroleum shares from Cool Corp Limited.
The Antilles Group Limited, the licensed user of Shell brands in Jamaica, is an integrated downstream petroleum products business operating in the captive Jamaican market. It is the largest fuel retailer by volume in Jamaica and operates an extensive network of more than 50 service stations on the island and has a broad customer base in the commercial and industrial sectors. It is a market leader in the region and one of the largest corporations in Jamaica.
This acquisition consolidates Rubis' presence in the Caribbean, where the publicly traded company is one of the largest operators of downstream operations in the area of fuel supply.
"I am quite pleased with TAG's advancement under our ownership and the future international positioning with the Rubis acquisition. This is the perfect transaction for our clients, partners and team members," said Jonathan S. Blue, Chairman and Managing Director of Blue Equity, LLC.
Since 2000, Rubis has expanded its presence across three continents, both through direct investments and via acquisitions. Rubis has a significant presence in the Caribbean islands of Antigua and Barbuda, Barbados, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines and Trinidad and Tobago, Bermuda, Guadeloupe, Martinique, French Guiana and Guyana. Further acquisitions during 2012 included the Chevron assets in The Bahamas, Cayman Islands and Turks and Caicos Islands.
Blue Equity is a leading, lower middle market private equity firm with holdings in a variety of sectors. Prior holdings have included the nation's largest Spanish directory publishing company, which was sold to Telmex International (NYSE:TII.A) in 2003 and one of the world's largest sports management and sports event and television production companies, which was sold to Lagardère Unlimited (EN Paris: MMB) in 2010.
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Blue Equity, LLC (www.blueequity.com) is an independent, private equity firm investing both growth capital and providing business expertise in enterprises with solid development potential. Blue Equity forms strategic partnerships with existing management teams, leveraging expertise and relationships to stabilize, strengthen and grow lasting value. Investment efforts and managerial expertise are focused on the operation of a global and diversified portfolio of business enterprises, including opportunities in oil and gas, media, distribution, healthcare, art commerce, defense, financial services and real estate. Blue Equity is dedicated to helping businesses grow by accelerating opportunity and driving innovation to the marketplace.
RUBIS (www.rubis.fr) is a publicly traded, independent international operator specializing in the downstream petroleum and chemicals sector and operating bulk liquid storage facilities (for petroleum products, chemicals, and foodstuffs) through its subsidiary Rubis Terminal and distributes LPG (butane and propane and petroleum products) through its subsidiary RubisEnergie.