Canadian Business Success Story: a home-grown fuel distributor transforms itself into a national energy player; enters the US, secures powerful equity partner, pursues acquisition targets and hires a new CEO away from an industry behemoth.
Canadian-owned 4Refuel Canada LP proudly announces the appointment of John Gleason as President and Chief Executive Officer. Mr. Gleason comes to 4Refuel from his current role as president of Superior Propane and Superior Plus Energy Services whose national business in propane delivery is three times larger but remarkably similar to 4Refuel’s business in diesel delivery.
Over 6,000 businesses across Canada use 4Refuel’s fuel service, including the biggest names in bottling, fast food, big box retailing, rail, courier services, construction and transport. The service saves businesses time and money and has caught the attention of some powerful new partners.
Equity Partnership
4Refuel completed one of Western Canada’s largest equity deals of 2010 with leading Canadian investment house, TorQuest Partners. This deal marked 4Refuel’s transformation from a national refuelling service to the largest fuel management enterprise in the country and probably the most technologically-advanced fuel logistics service in the world.
Company founder and chairman of the board, Jack Lee, says he’s excited about the arrival of a new CEO. “It’s a great time to be in fuel management and 4Refuel has a great team to lead it into the future.” Transitioning from day to day boss to big picture strategist, Lee is ready to hand over the reins and help familiarize the new CEO with the levers of the business.
“I can’t wait to get going,” says John Gleason, 4Refuel’s new President and CEO. “I’m expecting a balance of fun and hard work.”
Of the 4Refuel concept, Mr. Gleason says, “the world needs fuel management – small businesses, big corporations and government. It helps organizations control costs and maximize return on their investments in fuel, equipment and labour. It’s a concept whose time has come.”