Stonepeak said the firm is growing its presence in Australia and New Zealand, having deployed approximately $1 billion of capital into infrastructure investments in the region. (Source: Shutterstock)
Infrastructure firm Stonepeak has acquired a 75% interest in IOR, a commercial fuel and logistics provider in Australia, according to an April 15 press release.
Financial details of the transaction were not disclosed.
The deal follows Stonepeak’s April 6 announcement of an agreement to purchase a 40% interest in Woodside Energy’s Louisiana LNG project for $5.7 billion.
Founded in Queensland in 1984, IOR provides fuel distribution, storage, equipment and management services to more than 7,000 customers across Australia and the Pacific, the release stated. Its commercial distribution channels include a national footprint of more than 110 unmanned truck refueling locations supplying diesel; AdBlue, a purified diesel exhaust fluid; and aviation fuel to various industrial markets such as oil and gas.
Stonepeak said the firm is growing its presence in Australia and New Zealand, having deployed approximately $1 billion of capital into infrastructure investments in the region.
The firm has supported GeelongPort, a diversified landlord port; ZEN Energy’s Templers BESS project, the second largest energy storage project under construction in South Australia; and AGP Sustainable Real Assets, an investor, developer and operator of renewable energy and sustainable infrastructure in Australia and New Zealand.
“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,” said Darren Keogh, senior managing director at Stonepeak.
The transaction is expected to close in the second half of 2025, the company said.
King & Wood Mallesons served as legal counsel, and Macquarie Capital served as financial adviser to Stonepeak.
Gilbert & Tobin served as legal counsel and Miles Advisory Partners served as financial adviser to IOR.
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