• The Growth Fund acquired majority stake in December 2010
  • Fuelfix is the leading provider of specialised fuel storage equipment and services in Australia
  • Focus is on meeting the growing needs of its customers base and expanding geographically throughout Australia

The Fuelfix Journey

Mark Westbrook knows what there is to know about fuel storage. After working with BP on their fuel distribution strategy, he saw a need for greater flexibility in the containment of fuel at Western Australian mining and construction sites.

In December 2006, Mark and his small specialist team started leasing self-bunded portable fuel tanks under the Tanks2Go brand – the first of their kind in Australia – and quickly supplemented this with a fuel services offering under the Fuelfix brand. Mark’s self-bunded tank design allowed the tanks to be highly portable and quick to install.

One-stop shop

When the financial crisis struck in 2008, capital for in-house infrastructure was scarce but the demand for Mark’s fuel rental and service solutions continued to grow strongly. Mark recalls, “in the first couple of years we were growing 100% year-on-year.”

The business doubled in size again by 2010, with Fuelfix’s unique combination of equipment rental and specialised fuel services attracting blue chip customers. Over time, Mark sought to diversify the business away from its strong mining base by developing solutions for clients in the fuel distribution and construction sectors.

Capital to fuel growth

With access to bank funding in short supply in 2010, Mark partnered with The Growth Fund to fund the next phase of the business’s expansion – extending the business from Perth into the mining regions of Queensland and New South Wales.

Fuelfix’s fleet of self-bunded tanks, national team of specialist fuel technicians and reputation for providing, installing and maintaining fuel infrastructure in remote Australian locations continues to strongly position the business to capitalise on future growth opportunities in the fuel services sector.