Robinson Bradshaw Advises Kian Capital in $230 Million Continuation Fund

Robinson Bradshaw represented Kian Capital Partners in the closing of a $230 million single-asset continuation fund to reinvest in SPATCO Energy Solutions, expanding Kian’s assets under management to just over $1 billion. SPATCO is a leading fueling infrastructure services provider in the Southeast, Mid-Atlantic and Southwest, offering forward-thinking, turnkey solutions for America’s petroleum and EV-charging infrastructure operators.

The transaction provides liquidity to existing investors seeking to monetize performance to date while providing Apogem Capital and other new continuation fund investors the opportunity to invest. Kian originally invested in SPATCO in 2015 with the firm’s inaugural fund, Kian Mezzanine Partners I, L.P., providing subordinated debt and minority equity to support smaller add-on acquisitions. In 2020, Kian acquired a controlling equity interest in SPATCO through Kian Mezzanine Partners II, L.P. Robinson Bradshaw advised Kian on those investments, and Robinson Bradshaw has advised SPATCO on numerous strategic add-on acquisitions since 2020. The SPATCO platform has evolved into one of the nation’s leading fueling infrastructure solutions providers.

Robinson Bradshaw attorneys S. Graham Robinson, Katherine A. Grant, Laura E. Johnson, Curtis C. Strubinger, Henry E. Riffe III, Andrew G. Hamill and Evelyn V.P. Sechler advised on the transactions related to the continuation fund, and Kirk P. Altman, Miranda E. Goot and Elizabeth G. Poole provided counsel on the new debt facility. More information is available here.