World Fuel Services

Since 2010, World Fuel has made a series of transformational acquisitions in software, financial technology, natural gas, power, and energy management:[9]

*Multi-Service Technology Solutions (acquired 2012): A B2B fuel card and payment solutions company that managed the AIR & SEA Card for the Department of Defense.[10]

*U.S. Energy Services (acquired 2013): Allowed World Fuel to expand into natural gas, power, and energy management.[11] Traditionally a supplier of petroleum products, the firm used U.S. Energy Services as a foundation to expand with a series of six acquisitions.[9] This would pave the way for the new Kinect Energy Group division. Kinect Energy provides "energy management advisory and fulfillment services in over 30 countries and energy reporting in over 150 countries in almost every language and currency."[12]

*Avinode (acquired 2014): An on-demand market place for aircraft charter, similar to vehicle for hire mobile apps.[13]

*Other acquisitions between 2010 and 2014: Carter Energy, Western Petroleum, Lakeside Oil, Petro Air Corp, Watson Fuels, Ascent Aviation, Hiller Group, South Minnesota Lubes, Indianhead Oil, Nordic Camp Supply, Shell Oil Gibraltar, MH Aviation Services Pty, Yacht Fuel Services, and Colt International.

In 2014, WFS divested interests in a North Dakota Bakken crude oil transloading and trading venture.[14] During the initial Bakken boom there were no pipelines going to the region, forcing product to be shipped by railcar. The venture, with 1,100 railcars,[15] shipped 20 Mb/d as it was one of only six options for producers to move crude oil out of the area.[16] In 2018, two years after launching a freight factoring unit under Multi Service, WFS quickly divested it to BAMFi.[17][18] In 2020, World Fuel sold its Multi-Service subsidiary to Corsair Capital for $375 million.[19]

World Fuel's land based customers include petroleum wholesalers and distributors, wind turbine operators, and industrial, commercial, residential and government customers. Through subsidiaries, it supplies over 5,000 retail gas stations across the US, UK, and Brazil. Kinect, a global energy management solutions division, offers commercial and industrials solutions for power, natural gas, and water. Transaction management services include fuel card payment solutions under the Multiservice subsidairy.

The marine segment offers bunkering for global maritime fleets, as well as lubricants and related products and services across 1,200 major seaports. Marine customers include international container and tanker fleets, commercial cruise lines, yachts, time-charter operators, off-shore oil and gas operations, car carriers, military fleets, U.S. and foreign governments, and other fuel suppliers.

The aviation segment provides fuel and derivatives to commercial airlines, cargo carriers, airports, fixed based operators, corporate aircraft fleets, corporate helicopter fleets, government and military aircraft, fractional operators and private general aviation aircraft. Aviation‑related services range from derivatives, aircraft ground handling, and international flight planning services. Major customers include U.S. and foreign government, intergovernmental and military customers, including the U.S. Defense Logistics Agency and the North Atlantic Treaty Organization (NATO). Other services include card payment solutions, FBO management software, aircraft & crew flight scheduling software (SchedAero), Avinode Group, and de-icing logistics.[21]