Jones Capital Announces Sale of Portabull Fuel

HOUSTON, Aug. 20, 2024 /PRNewswire/ -- Jones Capital is pleased to announce the recent sale of Portabull Fuel Services, LLC ("Portabull Fuel") to CR Fuels, a leading provider of wholesale fuels across the Southeastern United States.  Based in Purvis, Mississippi, Portabull Fuel has been providing fuel management solutions and equipment rentals for various heavy construction, pipeline, and renewable projects across 22 states. The company's fleet of state-of-the-art mobile fueling tanks, and advanced technology for fuel accounting and on-site security, includes some of the most innovative and functional portable fueling systems in the market.  

Under the leadership of Jones Capital and its partners, the organization evolved from a concept into one of the largest fuel solutions providers for the midstream pipeline industry. This success was driven by strategic investments and sound operational planning. Leveraging its expertise in equipment rentals, Portabull was able to expand its fleet to meet growing demand while continuously introducing design and technological innovations that enhanced value to the customer. Alongside its deep understanding of the rental market, Jones Capital applied its transportation and logistics expertise to develop creative solutions for customers in remote areas with complex logistical challenges.

"Portabull has been a terrific piece of our portfolio of companies, with long tenured relationships with its blue-chip customer base and a commitment to the safety and service to customers across midstream and renewable construction and maintenance industries," said Tom Caughlin, President of Jones Capital, "We wish them continued success and growth as part of CR Fuels." 

Jones Capital extends its gratitude to the Portabull team for their dedication and performance during our ownership. We are pleased to have found in CR Fuels a buyer who recognizes the value of Portabull Fuels' operations and is committed to its continued success. The transaction was facilitated with Butler Snow serving as legal counsel to the sellers.

Portabull Fuel, based in Purvis, Mississippi, is a leading mobile fuel management company operating across 22 states. Specializing in heavy construction, pipeline, and renewable energy projects, Portabull provides advanced fueling solutions with a large fleet of mobile tanks and cutting-edge technology for fuel accounting and security.

About Jones Capital:

Jones Capital (Jones) is a family-owned firm specializing in equity investments in middle-market businesses. With an entrepreneurial mindset, Jones takes an active, hands-on approach by partnering with founders and executives to foster growth. By offering dynamic strategies, access to in-house operational expertise, and practical solutions, Jones helps companies achieve sustainable development. The firm's investment focus has included sectors such as transportation and logistics, infrastructure, industrials, construction, and technology and business services. Based in Houston, TX, and Hattiesburg, MS, Jones remains committed to being a growth-driven, value-added partner, aligned with businesses that share its vision for long-term success benefiting all stakeholders—customers, communities, employees, and shareholders. For more information, please visit https://jones.com/.

SOURCE Jones Capital, LLC