The gas station industry in the DACH region, comprising Germany, Austria, and Switzerland, is a vital component of the energy sector. Companies range from integrated oil giants to niche players focusing on alternative fuels and electric vehicle charging solutions. Besides conventional gas pumps, many stations now offer add-on services like convenience stores, car washes, and car maintenance. The focus is shifting toward sustainability with a growing interest in renewable energy. Moreover, innovation in payment solutions and technology in customer service continues to evolve, positioning the industry for resilience amidst environmental challenges and competitive pressures.

This article highlights twelve prominent investors shaping the gas station landscape in DACH. These include corporate giants like OMV and VARO, as well as private equity firms such as Partners Group and DWS Group. Headquartered across strategic locations like Vienna, Munich, and Baar, these investors vary in size and expertise, with most founded in the late 20th century. In 2024 alone, they participated in a total of 59 investment deals, showcasing their active role in adapting to market demands and investment strategies in the gas station sector.

Top 12 Gas Station Investors in DACH

1. Mercuria

• Website: mercuria.com
• Type: Corporate
• Headquarters: Geneva, Geneva, Switzerland
• Founded year: 2004
• Headcount: 1001-5000
• Number of deals in 2024: 7
• LinkedIn: mercuria-energy-trading-sa

Mercuria Energy Group Ltd. is a global energy trading company based in Geneva, Switzerland, founded in 2004. It operates in the commodity markets with a focus on crude oil, natural gas, and renewable energy. Mercuria provides trading services and invests in sustainable projects, catering to various industries reliant on energy procurement and management. Notably, Mercuria has made significant strides in the gas station context by acquiring Roadgas Limited, which operates bio-CNG and bio-LNG stations in the UK, enhancing the decarbonization of heavy transport fleets. Additionally, the company has been involved in acquiring Noble Americas Gas & Power Corp., further solidifying its presence in the natural gas sector. Mercuria's commitment to transitioning to net zero and its strategic investments in clean energy solutions position it as a key player in the evolving landscape of energy and gas stations.

2. Omv

• Website: omv.com
• Type: Corporate
• Headquarters: Vienna, Vienna, Austria
• Founded year: 1956
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: omv

OMV is an integrated oil, gas, and petrochemical company based in Vienna, Austria, founded in 1956. It operates in both upstream and downstream sectors, providing oil, gas, and petrochemical products to various businesses and organizations. OMV is committed to sustainability and innovation, focusing on reducing carbon emissions and promoting circular economy practices. Notably, OMV has made significant investments in the gas station sector, including the acquisition of a 51% stake in SNP Petrom SA, Romania's largest oil and gas company, which enhances its operational capabilities. In 2024, OMV Slovakia, a subsidiary of OMV, acquired a network of 27 filling stations under the Benzinol brand, strengthening its position as the second-largest chain of filling stations in Slovakia. This strategic move demonstrates OMV's commitment to expanding its footprint in the gas station market.

3. Partners Group

• Website: partnersgroup.com
• Type: Private Equity
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1996
• Headcount: 1001-5000
• Number of deals in 2024: 19
• LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative approach and commitment to sustainability. Among their notable transactions, Partners Group acquired ESENTIA Energy Systems for $750 million in 2014, showcasing their interest in energy systems. In 2019, they acquired CapeOmega for nearly €1.2 billion, enhancing their capabilities in natural gas transportation from the Norwegian Continental Shelf, which is directly relevant to the gas station industry. Furthermore, their acquisition of energy assets valued at $2.2 billion in 2025 highlights their ongoing commitment to the energy sector, reinforcing their position as a significant player in energy investments.

4. VARO Energy

• Website: varoenergy.com
• Type: Corporate
• Headquarters: Baar, Zug, Switzerland
• Founded year: 2012
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: varo-energy

VARO Energy is a corporate investor based in Baar, Zug, Switzerland, specializing in the manufacturing, storage, and distribution of both conventional and sustainable energy solutions. Founded in 2012, the company has positioned itself as a significant player in the energy sector, particularly in North-Western Europe. VARO Energy has made several strategic acquisitions to bolster its presence in the gas station and fuel distribution market. Notable transactions include the acquisition of Bayernoil Raffineriegesellschaft mbH, which enhances their midstream capabilities, and Calpam BV, which focuses on sustainable oil solutions. Additionally, their acquisition of NWB Nord- und Westdeutsche Bunker GmbH further strengthens their position in the fuels value chain. These investments reflect VARO's commitment to expanding its operations in the gas station industry while also pursuing innovative and sustainable energy solutions.

5. Glencore

• Website: glencore.com
• Type: Corporate
• Headquarters: Baar, Zug, Switzerland
• Founded year: 1978
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: glencore

Glencore plc is a multinational commodity trading and mining company based in Baar, Zug, Switzerland, founded in 1978. The company operates across various sectors, including metals, minerals, and energy, supplying essential commodities such as copper, cobalt, and oil to businesses worldwide. In 2019, Glencore South Africa Oil Investments acquired a 75% stake in Astron Energy, which operates gas stations in South Africa, and a 100% stake in Astron Botswana, previously owned by Chevron South Africa. This acquisition aims to enhance growth and promote black economic empowerment in the businesses. Additionally, Glencore has been involved in significant transactions in the energy sector, such as participating in the post-IPO equity of Rosneft and the debt financing of Tullow Oil, further demonstrating their commitment to the energy market.

6. ACP | Allianz Capital Partners

• Website: allianzcapitalpartners.com
• Type: Corporate
• Headquarters: Munich, Bavaria, Germany
• Founded year: 2006
• Headcount: 51-200
• LinkedIn: allianzcapitalpartners

Allianz Capital Partners (ACP) is an investment management firm based in Munich, Bavaria, Germany, specializing in private equity, infrastructure, and renewable energy investments. Founded in 2006, ACP manages assets for institutional investors and insurance companies, focusing on generating stable, long-term returns while enhancing portfolio diversification. Notably, ACP has made significant investments in the gas station industry, including the acquisition of Autobahn Tank & Rast Holding, which marked the largest buyout in Germany in nearly a decade, highlighting their commitment to the sector. Additionally, ACP has participated in funding rounds for companies like GasNet and Fuella, further emphasizing their interest in energy and fuel-related investments.

7. Gunvor Group

• Website: gunvorgroup.com
• Type: Corporate
• Headquarters: Geneva, Geneva, Switzerland
• Founded year: 2000
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: gunvor-group-ltd

Gunvor Group Ltd is an energy commodities trading company based in Geneva, Switzerland, founded in 2000. The company specializes in the trade, transport, storage, and optimization of petroleum and other energy products, serving businesses in the energy sector with essential resources and logistics solutions. Notably, Gunvor has made strategic acquisitions to enhance its refining capabilities, including the acquisition of the Ingolstadt refinery in Germany for USD $100 million in 2023 and the Kuwait Petroleum Europoort refinery in Rotterdam, which integrates into its European network. These transactions underscore Gunvor's commitment to strengthening its position in the energy market, particularly in areas that directly impact gas station operations.

8. Vireo Ventures

• Website: vireo.vc
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn: vireo-ventures

Vireo Ventures is a Berlin-based venture capital firm founded in 2020, specializing in early-stage technology startups within the energy and mobility sectors. They provide capital and mentorship to help these startups develop innovative solutions aimed at electrification and sustainability. Their focus is on B2B business models that contribute to a decarbonized world. Notable transactions include investments in ChargeEuropa, which focuses on electric vehicle charging solutions, and E-mobilio, which also operates in the electric mobility space. These investments align with the evolving landscape of gas stations, as many are beginning to incorporate electric vehicle charging infrastructure to meet changing consumer demands and regulatory pressures.

9. Allianz X

• Website: allianzx.com
• Type: Corporate
• Headquarters: Munich, Bavaria, Germany
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn: allianzx

Allianz X is a venture capital firm based in Munich, Bavaria, Germany, founded in 2016. It specializes in investing in digital growth companies within the insurtech and fintech sectors, providing strategic support and capital to help these companies scale their operations. In addition to its primary focus, Allianz X has made notable investments in the gas sector, including a 49% stake in Gas Connect Austria, acquired from OMV for €601 million, and a significant stake in the Quad Gas Group, which involves regulated gas distribution networks in the UK. These transactions highlight Allianz X's engagement in the gas industry, complementing its core investment strategy in technology-driven sectors.

10. Planet A Ventures

• Website: planet-a.com
• Type: Venture Capital
• Headquarters: Berlin, Berlin, Germany
• Founded year: 2020
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: planet-a

Planet A Ventures is a Berlin-based venture capital firm founded in 2020, specializing in investments in green technology startups across Europe and Israel. The firm aims to support founders tackling significant environmental challenges through innovative solutions. Notably, Planet A has participated in funding rounds for INERATEC, a sustainable e-fuels startup, which raised over $129 million in its Series B round to scale production of sustainable e-fuels. This aligns with the growing trend of gas stations exploring alternative fuels. Additionally, Planet A's investment in Carbon One, which focuses on methanol production, further emphasizes their commitment to sustainable energy solutions. Through these investments, Planet A not only provides financial backing but also mentorship and resources to help these startups scale effectively, contributing to the broader energy transition.

11. BayBG Venture Capital

• Website: baybg-vc.de
• Type: Venture Capital
• Headquarters: Hirschbach, Bavaria, Germany
• Founded year: 1972
• Headcount: 51-200
• Number of deals in 2024: 3
• LinkedIn: baybg-venture-capital

BayBG Bayerische Beteiligungsgesellschaft mbH is a venture capital firm based in Hirschbach, Bavaria, Germany, founded in 1972. The firm specializes in investing in innovative startups, particularly in Bavaria, and provides venture capital and advisory services to help these companies grow and scale their operations. BayBG has a strong focus on technology companies, leveraging its extensive network and experience to support portfolio companies in navigating market challenges. Notably, BayBG has invested in several companies relevant to the gas station industry, including EcoG, a Munich-based e-mobility startup that raised six million euros in a Series A funding round to advance the production of DC charging stations, which are essential for electric vehicles. Additionally, their investment in ChargeOne, which raised over $5 million in a Seed Round, further emphasizes their commitment to supporting innovative solutions in the charging infrastructure space. These transactions highlight BayBG's strategic interest in the evolving landscape of energy and transportation, making them a noteworthy player in the gas station investment arena.

12. DWS Group

• Website: dws.com
• Type: Private Equity
• Headquarters: Frankfurt, Hesse, Germany
• Founded year: 1956
• Headcount: 1001-5000
• Number of deals in 2024: 6
• LinkedIn: dws-group-com

DWS Group is an asset management company based in Frankfurt, Hesse, Germany, founded in 1956. It provides a range of investment solutions, including Xtrackers ETFs, to individual and institutional clients. DWS aims to help clients navigate the complexities of financial markets and achieve their investment objectives through portfolio management and investment advice. Recently, DWS Group has been involved in significant transactions, including the acquisition of Grandi Stazioni Retail, which operates in the retail sector, including gas stations, valued at approximately €1.2 billion to €1.3 billion. This acquisition, along with their joint acquisition of Weltec, a biomethane and biogas producer, highlights their strategy to invest in diverse sectors, including those related to energy and retail, which may encompass gas stations.

Gas Station Insights: Key Investors in DACH

Investor	Headquarter	Size	Founded	Deals 2024
Mercuria	Geneva, Geneva, Switzerland	1001-5000	2004	7
Omv	Vienna, Vienna, Austria	10001+	1956	3
Partners Group	Baar, Zug, Switzerland	1001-5000	1996	19
VARO Energy	Baar, Zug, Switzerland	1001-5000	2012	1
Glencore	Baar, Zug, Switzerland	10001+	1978	3
ACP | Allianz Capital Partners	Munich, Bavaria, Germany	51-200	2006	0
Gunvor Group	Geneva, Geneva, Switzerland	1001-5000	2000	1
Vireo Ventures	Berlin, Berlin, Germany	11-50	2020	8
Allianz X	Munich, Bavaria, Germany	11-50	2016	6
Planet A Ventures	Berlin, Berlin, Germany	11-50	2020	7
BayBG Venture Capital	Hirschbach, Bavaria, Germany	51-200	1972	3
DWS Group	Frankfurt, Hesse, Germany	1001-5000	1956	6

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