[Stay on top of transportation news: .]
Fuel Station Operator Yesway Seeks $321 Million in US IPO
Convenience Store Operator Focuses on Rural Communities in Midwest, Southwest
Yesway Inc. is seeking to raise as much as $321 million in its initial public offering, joining a flurry of deals looking to finish despite the conflict in Iran.
The convenience store and gas station operator focused on rural communities in the Midwest and the Southwest is selling nearly 14 million shares for $20 to $23 each, according to aÌýfilingÌýApril 13 with the U.S. Securities and Exchange Commission.Ìý
At the top of the price range, the company would have a market value of about $1.4 billion, the filing shows.Ìý
The Fort Worth, Texas-based company’s parent, BW Ultimate Parent, had net income of $54 million on revenue of $2.7 billion for the full year 2025, compared with net income of $24 million on revenues of $2.5 billion a year earlier, according to a filing.
The start of formal marketing comes as oil prices rise because of the war in Iran. Fuel prices have already increased substantially, and there is no way to guarantee that they won’t keep rising, hurting Yesway’s customers, the filing shows.
Backed by Boston-based private equity firm Brookwood Financial Partners, Yesway had previously filed in 2021 for an IPO before withdrawing plans the following year after the IPO market effectively closed as interest rates rose.
In 2019, it acquired convenience store chain Allsup’s, which is known for its burritos. Terms of the deal weren’t disclosed.
The offering is being led by Morgan Stanley, JPMorgan Chase & Co., and Goldman Sachs Group Inc. The company expects its shares to trade on the Nasdaq Stock Market under the symbol YSWY.
