Stonepeak & EEP Buy JET Deutschland for €2.5B
- Stonepeak and Energy Equation Partners (EEP) are poised to acquire a majority interest in JET Tankstellen Deutschland, a prominent fuel retailer operating in Germany and Austria.
- The transaction, anticipated to close in the latter half of 2025, marks a notable move in energy investments.
- Javed Ahmed, managing partner at EEP, emphasized the partnership's goal to leverage JET's existing platform.
Stonepeak and EEP Acquire JET tankstellen Stake in €2.5B Deal
updated May 28, 2025
Stonepeak and Energy Equation Partners (EEP) are poised to acquire a majority interest in JET Tankstellen Deutschland, a prominent fuel retailer operating in Germany and Austria. The agreement wiht a Phillips 66 subsidiary values JET Tankstellen Deutschland at €2.5 billion ($2.8 billion). Phillips 66 will maintain a 35% minority stake through a new joint venture.
The transaction, anticipated to close in the latter half of 2025, marks a notable move in energy investments. JET Tankstellen Deutschland manages a network of 970 service stations, serving over 700,000 customers daily. These stations, primarily located in urban centers and high-traffic areas, offer fuel, convenience stores, car washes, and an expanding electric vehicle charging infrastructure.
Javed Ahmed, managing partner at EEP, emphasized the partnership’s goal to leverage JET’s existing platform. He stated they will collaborate with the JET team to enhance its position in both fuel and non-fuel retail sectors across Germany and Austria.
We will work with the JET team to strengthen its position in fuel and non-fuel retail across Germany and Austria.
EEP,a relatively new firm specializing in energy investments,concentrates on guiding established energy companies toward sustainable business models. Its founding team has a track record of deploying over $10 billion in equity globally.Stonepeak, which manages $73 billion in assets, focuses on defensive infrastructure, energy, and real estate investments. Recently, Stonepeak committed $1.5 billion to launch Montera Infrastructure, a data center venture.
What’s next
Following the deal’s completion,Stonepeak and EEP plan to collaborate with JET Tankstellen Deutschland to further develop its service offerings and expand its presence in the German and Austrian markets.