Law firm Eversheds has advised Euro Garages, one of the largest independent forecourt operators in the UK, on a £1.3bn investment.

TDR Capital, the London-based investment firm which owns rival company European Forecourt Retail Group, has taken a minority stake in Euro Garages, a Lancashire-based company owned by brothers Mohsin and Zuber Issa.

Euro Garages has a portfolio of over 340 sites across the UK including petrol stations and related shops. It also operates the Rivington services on the M61.

Mohsin and Zuber Issa will continue to lead the Group and remain majority shareholders, extending TDR’s experience in consumer facing business and petrol forecourt retailing.

The deal was led by partners Daniel Hall and Robin Skelton working alongside partners Nick Swiss, Jason Wurzal and Phillip Tunney. The team was assisted by Elizabeth Cartwright (Principal Associate), David Milne and Richard Simpson (Senior Associates), Michelle Upton and Lucie Alker (Associates).

Daniel Hall commented:

“This deal underlines one of Britain's biggest business successes in recent years, and has propelled Euro Garages to become one of Europe's leading fuel retailers. As a team we are delighted to have helped Mohsin and Zuber achieve their ambitious growth plans. It was a pleasure to work together and we wish them all the best for the future.”

Mohsin Issa said:

“We have been very impressed with the commitment and professionalism of the Eversheds team who worked on this deal. The team delivered quickly and efficiently, a testament to the firm’s effective leadership and a strong work ethic demonstrated by all.”

Founded in 2001, Euro Garages has grown from a single site to become one of the largest independent forecourt operators in the UK, and the largest owner-manager business in the sector. The business has grown through a series of successful acquisitions, with more than 170 sites acquired over the last few months. It also purchased 48 forecourts from Exxon Mobil's Esso unit last year.

The Group currently manages sites under BP, Esso and Shell fuel brands and has developed strong partnerships with global brand partners including Starbucks, Subway, Burger King, SPAR, and Greggs.

Euro Garages and the Issa family were also advised by Rothschild (financial adviser). TDR Capital was advised by Linklaters (legal adviser).