Dubai (PlantAndEquipment.com) - Agility Global has agreed to sell its full share in Dubai-based energy logistics firm Tristar to India's Aegis Logistics in a deal worth $1.5 billion.

The transaction values Tristar's shares at $882 million, or nearly six times its EBITDA in 2025. Completion is scheduled by the end of March 2027, subject to regulatory clearance.

Tristar has a vast energy logistics network spanning more than 30 nations, including a fleet of over 1,000 vehicles, 26 ocean-going and coastal boats, 14 gasoline storage facilities, and over 60 remote fuel locations.

The company offers gasoline transportation, storage, and distribution services to energy corporations and industrial clients such as ADNOC, Shell, and Total. Its development includes acquiring a controlling position in Aquarius Energy, a joint venture with Glencore, in 2022, which added to a fuel storage platform with 3.5 million cubic meters of capacity.

Agility purchased Tristar for about $7 million in 2003 and spent an additional $123 million over the next seven years. Tristar has subsequently developed into a company that generates about $1.4 billion in yearly sales and $257 million in EBITDA.

For Aegis Logistics, the purchase marks a significant expansion into worldwide energy transportation and storage. Agility anticipates that the deal will produce cash to support future investments, debt reduction, and shareholder returns.