Agility Acquires Stake in Tristar
In 2003, Agility bought a majority stake in Tristar, the Dubai-based fuel logistics business that got started with just three trucks and a vision five years earlier.
Tristar’s Global Expansion and Industry Leadership
Today, Tristar is part of Agility and is a fully integrated global energy logistics leader, operating in 30 countries on five continents. It provides first-mile to last-mile road transport and ships energy products across oceans with a tanker fleet of more than 27 vessels. It manages fuel storage at seaports and into-plane fueling at airports. Most important, Tristar is an acknowledged industry standard-setter for safety, innovation, sustainability, and operational excellence.
Tristar’s Early Industry Disruption
When Tristar was founded, most international and national oil and gas majors managed their Middle East logistics in-house. They transported crude oil, refined products and chemicals on their own – inefficiently and with little desire to invest in safety. Tristar CEO Eugene Mayne, a former Chevron executive who had built relationships throughout the industry, convinced them there was a better way.
Pioneering Logistics Partnerships and Expansion
Tristar has been an industry pioneer ever since. It became a trusted remote-logistics partner for the United Nations in Africa in 2007 and for the U.S. Defense Department in the Pacific in 2009. It established its presence in Saudi Arabia in 2013, under a 10-year agreement with Aramco, which relies on Tristar for transport of diesel, gasoline and jet fuel.
Strategic Partnerships and Acquisitions for Growth
In 2015, Tristar moved into chemical distribution through a joint venture with Germany’s Brentagg. It upgraded its maritime capabilities two years later by acquiring Abu Dhabi’s ESHIPS in a deal that brought it five chemical tankers along with a maritime management team.
Capital Strengthening and Global Expansion
Gulf Investment Corp. of Kuwait acquired a 20% stake in Tristar in 2017, strengthening Tristar’s capital base for future expansion. The company expanded its fuel storage, distribution and retail footprint in 2022 by acquiring a majority stake in HG Storage International, which had eight strategic assets in Europe, the Americas, the Middle East and Africa.
Tristar’s Commitment to Safety, Innovation and Industry Leadership
BP, Total, Shell, Linde and other customers have recognized Tristar for the highest levels of operational excellence and safety practices. Its strategy has been to separate itself from its peers by leading in safety, sustainability and innovation, and becoming an early mover on reporting and transparency. As of the start of 2024, Tristar drivers and vehicles had clocked an impressive 500 million kilometers without a single road fatality. Tristar has developed a state-of-the-art Driver Fatigue Management System and deployed blockchain and encryption technology to safeguard drivers, vehicles, cargo and communities.
