Scorpion PFS 1 gets RBS CIB support to buy 54 UK petrol stations

19 July 2013 (Last Updated July 19th, 2013 01:43)

Scorpion PFS 1, a joint venture between private equity house Patron Capital Partners and Scottish oil tycoon Alasdair Locke, has acquired a UK portfolio of 54 petrol stations in a deal of more than £50m.

Scorpion received funding support for the transaction from the Scottish Real Estate Finance team at Royal Bank of Scotland Corporate & Institutional Banking (RBS CIB).

RBS Corporate & Institutional Banking real estate finance regional managing director Stuart Heslop said that the institute is delighted to financially aid Patron and Locke with their acquisition.

"These parties coming together on this transaction will herald an exciting few years ahead and we look forward to supporting management with their plans to develop the portfolio," added Heslop.

The acquisition of the fuel stations, with a provision of convenience store offering, forms part of Patron's wider strategy in the UK fuel sector.

Patron senior partner Stephen Green noted: "We believe these assets offer strong investment potential and would like to thank the team at Royal Bank of Scotland for helping realise this opportunity.

"They showed a clear understanding of our requirements and goals, fully supported by very strong experience in the sector."