Stonepeak to acquire a 75% stake in IOR.

Stonepeak, an alternative investment firm, agreed to acquire a 75% stake in IOR, a commercial fuel distributor. Financial terms were not disclosed. “IOR is a leader in commercial fuel distribution and logistics in Australia, and with its strong operating model, expansive network, and established customer base, the Company is a compelling fit for our Asia infrastructure strategy. Stonepeak invests in companies that are critical to the resiliency of supply chains which underpin our daily lives. In IOR, Stonepeak is investing in essential fuel distribution as a critical input into the Australian economy. We look forward to partnering with IOR’s existing shareholders and talented management team to support its continued growth,” Darren Keogh, Stonepeak Senior Managing Director.