Apollo Accelerates into UK Petrol Giant MFG with Strategic Stake

£7 Billion Valuation Fuels Growth in Electric Vehicle Charging and Forecourt Retail Expansion

Apollo Invests in Britain’s Largest Independent Forecourt Operator

Apollo Global Management, the US-based private equity giant, is poised to acquire a significant minority stake in Motor Fuel Group (MFG), the UK’s largest independent petrol station operator. The deal, valued at approximately £7 billion, is expected to be announced within days, according to sources close to the negotiations.

Apollo will be purchasing the stake from Clayton, Dubilier & Rice (CD&R), MFG’s majority owner, in a move that underscores growing interest in the UK’s evolving forecourt and electric vehicle (EV) charging market.

MFG’s Rapid Growth and EV Expansion Drive Investor Interest

Originally a mid-sized player, MFG has expanded dramatically under CD&R’s ownership—from 360 to over 1,200 forecourt sites across Britain. The business operates under multiple fuel brands, including Shell and Esso, and has experienced a 14-fold increase in earnings since CD&R’s 2015 investment.

This remarkable growth has been fuelled by the company's dual focus on:

• Traditional fuel services, and
• A fast-growing EV charging network, where it is now the second-largest ultra-rapid provider in the UK.

MFG currently operates close to 1,000 ultra-rapid EV chargers, with plans to invest £400 million to increase this number to 3,000 by 2030. These chargers can deliver 100 miles of range in just ten minutes, making them a key part of the UK's energy transition.

Financial Snapshot and Strategic Outlook

MFG is on track to report £700 million in EBITDA this financial year. The new investment by Apollo is expected to involve a 25% to 30% stake, giving the firm strong exposure to MFG’s long-term growth without disrupting CD&R’s controlling interest. Morrisons, which was merged with MFG in a previous £2.5 billion deal, also maintains a 20% stake.

Advisers on the transaction include Lazard and Royal Bank of Canada, with insiders suggesting that a future IPO on the London Stock Exchange may follow in the next few years.

A Streamlined Retail-Energy Giant for the Future

MFG isn’t just selling petrol anymore. It is transitioning into a streamlined, modern retail-energy business, combining fuel, fast EV charging, and high-margin foodservice offerings at its forecourts.

As consumers increasingly opt for electric vehicles and demand quicker, more integrated services, MFG’s diversified forecourt model could set a new industry standard.

What This Means for Investors

For institutional and private investors alike, this deal reflects a strong belief in the future profitability of hybrid forecourt businesses. With Apollo entering the picture and MFG scaling its EV infrastructure, the business is likely to:

• Attract more global capital interested in ESG-aligned infrastructure
• Expand into new retail partnerships
• Capitalise on the rising demand for EV services in the UK and Europe

Other players, like EG Group and Asda, have undergone similar transformations, and the space is heating up for further consolidation and IPOs.

Conclusion: Fuel, Fast Chargers, and Forward Thinking

Apollo’s move into MFG isn’t just about petrol—it’s about future-proofing mobility infrastructure. With a hybrid model blending fuel, food, and EV charging, and a massive capital injection underway, MFG is poised to lead the charge in the UK’s forecourt evolution.

Investors should keep a close eye on this space—streamlined, tech-enabled fuel networks may be one of the most promising sectors in the shift to net zero and smarter retail experiences.

Sources: (SKY.com, BBC.co.uk)