Lariat Partners-Backed Offen Petroleum Completes Acquisition of Overland Petroleum
Offen Petroleum, a leading independent fuel distributor, announced today that it has completed the previously announced acquisition of Overland Petroleum, a respected fuel distributor. Offen Petroleum, a portfolio company of Lariat Partners (“Lariat”), a Denver-based private equity firm, is a provider of motor fuel, lubricants, and petroleum logistics services in Colorado and 12 surrounding states. The combination creates one of the largest fuel distributors in the Greater Rocky Mountain region and now operates as Offen Petroleum.
Based in St. George, Utah, Overland Petroleum is an independent fuel distributor that operates in the Greater Rocky Mountain Region. In recent years, Overland has focused its growth toward adding major oil company branded fuel to independent convenience and fuel retailers to its customer base. A majority of the branded retail customers fly the Sinclair banner but Overland also offers Conoco, Phillips 66, and the brands licensed by Andeaver. In addition to these branded relationships, like Offen, Overland distributes wholesale gasoline and diesel fuel to unbranded fuel retailers and commercial customers across the Rocky Mountains and Southwest regions of the United States. Overland controls its own fleet of tankers and currently operates in Utah, Arizona, Nevada, Idaho, Colorado, Wyoming, Montana, and New Mexico.