- Stonepeak acquired a majority controlling stake in Lafayette, Louisiana-based Dupra9 Logistics, effective April 16, 2025, with financial terms undisclosed.
- Dupra9 runs energy distribution, site/private fleet, and capacity brokerage operations, with 700+ trucks, about 1,000 drivers, and ~16,000 preferred carriers.
- Chris Sower was named interim CEO, replacing Mike Weindel, while the Dupra9 family retains an equity stake and Reggie Dupra9 joins the board.
- The deal expands Stonepeaka9s infrastructure logistics exposure, targeting Sun Belt and Gulf Coast energy and chemical supply-chain growth with potential operational and acquisition-driven upside.
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This transaction reflects broader strategic themes in private equity infrastructure investment: namely, demand for logistics assets that are asset-light or mixed asset/asset-heavy, capacity for organic and inorganic growth, and the importance of regional transportation platforms. Dupré’s Sun Belt footprint—with strong Gulf Coast exposure—aligns with macro tailwinds such as growth of energy and chemical distribution, domestic energy production, and supply chain reconfiguration.
Stonepeak’s positioning indicates a sharpening focus on combining capital with operational experience. Chris Sower’s leadership—his prior experience at Rinchem and similar firms—suggests Stonepeak intends to accelerate Dupré’s growth through scaling systems, margin improvement, and likely bolt-on acquisitions.
Retention of equity by Dupré’s founding family (Reggie Dupré) and continuity of business lines suggest Stonepeak is using a partnership model rather than a buy-and-flip approach. This may bode well for long-term stability but also raises questions of governance alignment, investment horizon, and return expectations.
Open questions include: what valuation Stonepeak paid (multiples, enterprise value vs equity value), how much additional debt or leverage is being put on Dupré, what organic growth targets and capital expenditure plans are set (e.g., fleet expansion, geographic expansion, technology investment), and how integration risk will be managed given the mix of company-owned and carrier-network operations. Also relevant is how Stonepeak will deploy its existing infrastructure platform synergies, and how this impacts peers in logistics investing.
Strategic implications: Stonepeak bolsters its exposure to bulk liquids, energy supply chains, and carrier brokerage services—segments with defensible demand curves. This move may pressure competitors or incumbents to consider similar scale partnerships or seek specialized niches. Also, for carriers contemplating sale or capital raise, this deal sets a benchmark in capability, valuation (though undisclosed), and partnership structuring.
Supporting Notes
- Dupré supplies energy distribution services, private fleet services, and strategic capacity brokerage across the U.S., headquartered in Lafayette, LA.
- Fleet size: over 700 trucks; driver count: roughly 1,000; preferred carriers network: more than 16,000.
- Chris Sower named interim CEO, effective immediately; replaced Mike Weindel.
- Transaction closed; Stonepeak acquired a majority controlling stake; no financial terms disclosed.
- Reggie Dupré and family retain ownership stake; Reggie becomes board member.
- Stonepeak has around $72 billion in assets under management.
- Advisors: Brown Gibbons Lang & Company advised Stonepeak; G2 Capital advised Dupré. Legal advisors include Simpson Thacher for Stonepeak.
- Dupré’s business history: founded in 1980; grew from two-truck fuel delivery operation to full-service logistics business.