Retail Acquisitions in Connecticut

Funds affiliated with AEA Investors' Small Business Private Equity strategy acquired a majority stake in Splash Car Wash from Palladin Consumer Retail Partners. Splash, a Milford, Connecticut–based car wash operator with more than 65 locations across the Northeast, will be led by newly appointed CEO Dan Petrelle as it pursues accelerated growth through strategic acquisitions and new site openings; terms were not disclosed.

Global Partners LP (NYSE: GLP) completed the acquisition of the Wheels retail fuel and convenience-store assets from Consumers Petroleum of Connecticut (Wheels), adding ~26–27 convenience-store locations and associated fuel supply agreements in Connecticut (and NY). The deal expands Global’s Northeast retail footprint and supply network; several sites were divested under an FTC consent order.

EG Group (through its US arm EG America) has entered into an Asset Purchase Agreement to acquire nine company-operated convenience store locations from Mercury Fuel Service in Connecticut. The sites will be rebranded to the Cumberland Farms banner to create a more consistent network presence across Connecticut; the deal is expected to close in the coming months.