Offen Petroleum Closes on Two Strategic Acquisitions
Offen Petroleum (“Offen”), announced today that it has completed two separate transactions where it acquired a portfolio of branded motor fuel dealer contracts from Petroleum Management LLC., a motor fuel distributor headquartered in Platteville, CO (“PM”) and certain logistics assets of Pathfinder Transportation LLC (“Pathfinder”), a distributor of propane in Missouri, Arkansas, and Oklahoma. Offen is a leading independent distributor of motor fuels, propane, lubricants, and offers petroleum logistics services in 26 states throughout the Western and Midwestern United States. The business combinations continue to strengthen Offen’s geographic density and product offerings.
Petroleum Management is owned jointly by Bill Scaff and Ed Holloway and is a longstanding wholesaler of motor fuels in Colorado. The company sells branded motor fuels under the Shell, Conoco, Phillips 66, Exxon, Mobil, Valero, and Sinclair banners. Offen acquired a majority of Petroleum Management’s assets in the Front-Range region of Colorado. After the transaction, Petroleum Management will continue to operate convenience stores and supply a select portfolio of 3rd party dealers located in Colorado.
The addition of these customers further deepens Offen’s operations in Colorado, further enhances Offen’s position as one of the leading fuel distributors in the United States and grows Offen’s commitment to the branded dealer business.
Pathfinder is owned by John Holloway with headquarter offices in Hiwasse, AR, and distributes propane to customers through its affiliate company Tri-State Propane LLC (“Tri-State”). In connection with the acquisition of the Pathfinder logistics assets, Offen entered an exclusive propane sales contract with Tri-State. This acquisition will allow Offen to expand its propane distribution capabilities in the Ozark region of the United States.
“We are very pleased to complete these two deals to continue our efforts to be a leading consolidator of motor fuel and propane distribution companies in the United States,” said Bill Gallagher, Offen’s CEO. “I am pleased that Bill, Ed, and John each have entrusted us to carry on their respective company legacies of providing best in class service to their customers.”
About Offen Petroleum
Headquartered in Commerce City CO, Offen is a growing distributor of fuels, propane, and lubricants that dedicates itself to serving its customers with the highest level of service. Offen is a portfolio company of Court Square Capital Partners, a New York based private equity firm. In addition to organic growth, Offen is a leading acquiror of companies in this consolidating marketplace. Offen distributes over 2.2 billion gallons of motor fuel annually and will serve customers throughout 26 Western and Midwestern states. In addition to branded and unbranded motor fuels, Offen sells propane, and lubricant products and solutions for the commercial, industrial, and passenger car segments, as well as diesel exhaust fluids used in emission controls.
More information on Offen can be found at http://www.offenpetro.com.