LOUISVILLE, Ky. and KINGSTON, Jamaica, Jan. 3, 2013 (GLOBE NEWSWIRE) Louisville-based Blue
Equity, LLC announced today that Blue Equity has closed a transaction with the Rubis Group (NYSE
Euronext Paris:RUI) for the sale of The Antilles Group Limited (“TAG”), the licensed user of Shell
brands in the country of Jamaica. The transaction was finalized at the end of 2012 for an
undisclosed amount.
In 2011, Blue Equity, LLC purchased controlling interest in The Antilles Group Limited f/k/a Cool
Petroleum pursuant to agreements through which Blue Equity acquired Neal and Massy Holdings, Ltd’s
(TTSE-NML) stake in Cool Petroleum and an undeclared number of Cool Petroleum shares from Cool
Corp Limited.
The Antilles Group Limited, the licensed user of Shell brands in Jamaica, is an integrated
downstream petroleum products business operating in the captive Jamaican market. It is the largest
fuel retailer by volume in Jamaica and operates an extensive network of more than 50 service
stations on the island and has a broad customer base in the commercial and industrial sectors. It
is a market leader in the region and one of the largest corporations in Jamaica.
This acquisition consolidates Rubis’ presence in the Caribbean, where the publicly traded company
is one of the largest operators of downstream operations in the area of fuel supply.
“I am quite pleased with TAG’s advancement under our ownership and the future international
positioning with the Rubis acquisition. This is the perfect transaction for our clients, partners
and team members,” said Jonathan S. Blue, Chairman and Managing Director of Blue Equity, LLC.
Since 2000, Rubis has expanded its presence across three continents, both through direct
investments and via acquisitions. Rubis has a significant presence in the Caribbean islands of
Antigua and Barbuda, Barbados, Dominica, Grenada, St. Lucia, St. Vincent and the Grenadines and
Trinidad and Tobago, Bermuda, Guadeloupe, Martinique, French Guiana and Guyana. Further
acquisitions during 2012 included the Chevron assets in The Bahamas, Cayman Islands and Turks and
Caicos Islands.
Blue Equity is a leading, lower middle market private equity firm with holdings in a variety of
sectors. Prior holdings have included the nation’s largest Spanish directory publishing company,
which was sold to Telmex International (NYSE:TII.A) in 2003 and one of the world’s largest sports
management and sports event and television production companies, which was sold to Lagardère
Unlimited (EN Paris: MMB) in 2010.