Refuel Promotes Travis Smith and Jon Rier to Co-CEOs

CEO Mark Jordan to Assume Chairman Role

CHARLESTON, S.C., June 24, 2025 /PRNewswire/ -- Refuel ("Refuel" or the "Company"), a leading convenience store and retail fuel owner and operator of over 240 locations and a portfolio company of First Reserve, today announced the promotions of Co-Presidents Travis Smith and Jon Rier to Co-Chief Executive Officers, effective July 1, 2025. Mark Jordan, Founder and current CEO of Refuel, will be stepping into the role of Chairman of the Board.

Mr. Jordan stated, "This is a moment of great pride for me. Travis and Jon have been exceptional leaders and visionaries for Refuel, and I have deeply valued their partnership as we have established Refuel as one of the preeminent, customer-focused retail and convenience platforms in the country. Since taking on the Co-President roles in January 2024, they've delivered outstanding results, and their leadership has been instrumental in driving Refuel's success. Their elevation to Co-CEOs reflects the confidence we all have in their abilities and their commitment to continuing to build an extraordinary company focused on providing customers fresh food, convenience, and fast and friendly service. I am excited to continue supporting them as Chairman and look forward to all I know is ahead for Refuel."

Since Refuel was founded in 2008, the Company has maintained its commitment to excellent customer experience and a people-first culture. This leadership evolution underscores Refuel's dedication to these values as the Company continues to thoughtfully scale and innovate for the future. Since their appointments as Co-Presidents, Mr. Smith and Mr. Rier have led transformative initiatives that have expanded Refuel's footprint, strengthened operations, and enhanced its culture. Under their leadership, Refuel has been one of the fastest-growing convenience and fuel platforms in the country, and has established a strong brand known for its focus on the customer experience.

In a joint statement, Mr. Smith and Mr. Rier said, "We are incredibly grateful to Mark for his trust, mentorship, and vision in building Refuel into the industry leader it is today. We're honored to step into the Co-CEO roles and continue working side-by-side with our talented team to grow this business. Our mission remains focused on serving our customers, delivering operational excellence, empowering our people, and building a company we're all proud to be part of."

Neil Wizel and Gary Reaves, Managing Partners of First Reserve, added, "We're thrilled to see Travis and Jon step into the Co-CEO roles. They have each played a critical role in Refuel's tremendous growth story in recent years and together bring complementary strengths, deep industry knowledge, and a strong partnership-driven approach. Mark's leadership and foresight have positioned Refuel for long-term success, and we look forward to continuing to work alongside him as we support Travis, Jon, and the entire Refuel team through this exciting next chapter."

Mr. Smith partnered with Mr. Jordan in 2016 and co-founded FR Refuel with First Reserve. He led the company's acquisition-based growth strategy, expanding Refuel from South Carolina across the Southeastern United States. He previously worked at Susser Holdings Corporation and Sunoco and started his career at the law firm of Locke Lord, LLP. He attended the University of Texas at Austin, graduating with a B.A. in Government in 2002, and graduated Magna Cum Laude from South Texas College of Law in 2005.

Mr. Rier joined Refuel in 2019 as Chief Financial Officer, leading the company's Finance, Accounting, and IT functions. He previously spent 14 years with RaceTrac Petroleum in various leadership roles, including Sr. Director of FP&A/Business Analytics, Sr. Director of Fuel Transportation, and Assistant Treasurer. Jon graduated Magna Cum Laude from the University of Georgia in 2007 with a BBA in Finance.

About Refuel
Refuel is a leading retail and convenience platform operating across the Southeastern United States. With a focus on delivering high-quality service, innovative offerings, and a best-in-class team, Refuel has rapidly expanded through both organic growth and strategic acquisitions. Please visit www.refuelmarket.com for further information.

About First Reserve
First Reserve is a leading private equity firm investing across Infrastructure Solutions, Value-Added Infrastructure and Resources strategies with exposure in energy, utility, and industrial markets. Founded in 1983, First Reserve has more than 40 years of industry insight and has cultivated a differentiated network of relationships and portfolio exposure. Since inception, First Reserve has raised over $34 billion of aggregate capital and has developed operational expertise built from over 750 transactions, including platform investments and add-on acquisitions. Please visit www.firstreserve.com for further information.

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SOURCE Refuel