Kian Capital-Backed SPATCO Energy Solutions Strengthens National Expansion with Acquisition of Excell Fueling Systems
SPATCO Energy Solutions (“SPATCO”), a rapidly growing provider of turnkey infrastructure service solutions to the petroleum, environmental, and electric vehicle (EV) markets, has officially announced the acquisition of Excell Fueling Systems (“Excell”). The move represents another key step in SPATCO’s long-term growth strategy and highlights the company’s commitment to scaling its operations nationwide.
The acquisition of Excell, which is based in Buda, Texas, is SPATCO’s fourth acquisition since the July 2024 closing of its Kian Capital-backed single-asset continuation fund. This steady cadence of acquisitions demonstrates both the financial support SPATCO enjoys from its investors and its ambition to consolidate and strengthen its position across multiple markets. By integrating Excell, SPATCO gains access to new capabilities, expands its reach within Texas, and reinforces its ability to deliver comprehensive services to an increasingly diverse customer base.
Excell’s Established Presence in Texas
Founded in 1993, Excell Fueling Systems has built a three-decade-long reputation as a trusted, HUB-certified provider of fueling infrastructure solutions. With operations centered in Austin, San Antonio, and Dallas, the company serves a broad range of clients including private fleets, municipalities, hospitals, airports (both public and private), and marinas.
Excell’s service portfolio is comprehensive, covering the installation, maintenance, and testing of both underground and above-ground storage tanks and fueling systems. This breadth of expertise has positioned Excell as a critical partner to commercial and institutional clients across Texas. Importantly, its long-standing relationships and reputation for quality service make it an attractive fit for SPATCO’s growing platform.
Strategic Fit with SPATCO’s Expansion Plans
SPATCO has historically been known for delivering infrastructure solutions across petroleum fueling, environmental systems, and EV charging installations. While the company already has an established presence in Texas, the addition of Excell strengthens its ability to serve a wider spectrum of commercial customers in the region.
By acquiring Excell, SPATCO gains enhanced capabilities that complement its existing portfolio, particularly within commercial fueling infrastructure. This not only broadens its offering but also enables SPATCO to roll out its complete suite of services in Texas, aligning with its mission to be a one-stop solutions provider across all markets it serves.
John Force, CEO of SPATCO, emphasized the importance of this alignment in the company’s broader expansion vision:
“The acquisition of Excell represents a highly complementary addition to the SPATCO platform, allowing us to serve the Texas market with the same comprehensive offering present in our other regions. SPATCO will continue to invest in service line expansion and organic growth initiatives to scale the platform and provide reliable, quality service to clients across the continental U.S.”
Preserving Excell’s Legacy
For Excell, joining SPATCO represents both continuity and opportunity. Excell President Susan Rollins expressed confidence in the alignment of values between the two companies:
“SPATCO is known in the marketplace for its commitment to excellence and customer service. I’m confident SPATCO will be a great steward of Excell’s industry reputation as well as our talented team, and I look forward to seeing them uphold the strategy and values that have defined the company over the past three decades.”
This perspective reflects the importance of cultural fit in M&A transactions. Beyond financial synergies, the integration of Excell provides SPATCO with a seasoned team that understands the regional market, maintains customer trust, and contributes operational expertise.
Expanding in a High-Growth Market
Texas is widely regarded as one of the fastest-growing markets in the U.S. for energy infrastructure, thanks to its expanding population, diverse industrial base, and increasing demand for both traditional and alternative fueling systems. By deepening its footprint in the state, SPATCO positions itself at the center of this growth.
The acquisition provides SPATCO with the scale and presence required to compete more effectively in Texas while also serving as a springboard for future growth across the Southwest. With Excell’s strong local network and SPATCO’s national resources, the combined entity is better positioned to capture new opportunities in a competitive and evolving industry.
Backing from Kian Capital
The transaction also highlights the critical role played by private equity support in fueling SPATCO’s expansion. Kian Capital Partners, a middle-market private investment firm, has been a key backer of SPATCO through its single-asset continuation fund. Since July 2024, SPATCO has completed four acquisitions under this structure, underscoring the momentum behind its buy-and-build strategy.
Kian executives Ulrich Erasmus (Vice President) and Jordan Lee (Partner) noted the significance of this latest acquisition:
“Excell marks SPATCO’s fourth acquisition since the closing of our continuation vehicle in July of last year, signifying the company’s accelerating momentum and strong growth. Kian is fully equipped to support the company as it looks to continue its M&A strategy in new and adjacent verticals, as well as new geographies, to increase the scope and size of the portfolio and further the platform’s mission of being a single-source solutions provider to its customers nationwide.”
This backing not only provides SPATCO with the capital needed for strategic acquisitions but also ensures that the company can pursue opportunities in adjacent industries and geographies. The partnership with Kian reflects a shared vision of building a scalable, national leader in fueling and energy infrastructure services.
