Valero buys Pure Biofuels Del Peru from Pegasus Capital and other shareholders for cash

May 14, 2018 |

In New York, Pegasus Capital Advisors, Company Management and minority shareholders have sold their equity interests in Pure Biofuels Del Peru, SAC to a subsidiary of Valero Energy Corporation. PBF, as the third largest fuels importer in Peru, maintains a leading supply platform with a base of over 500 customers, including retailers, miners, and airlines. The transaction, which was funded with cash, also includes refined products terminals in Callao, near Lima, and in Paita, near Piura in northern Peru. Pegasus and Management purchased the equity of Pure Biofuels in April of 2012.

Over the course of its investment, Pegasus partnered with Company Management to deleverage the balance sheet and provide strategic growth capital to drive a very significant ramp-up in PBF’s operational capacity and utilization, resulting in an increase from 24 million gallons in 2012 to 270 million in 2017.

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