Commerce City, Colo.-based Offen Petroleum announced 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, Colo., and certain logistics assets of Pathfinder Transportation LLC, a distributor of propane in Missouri, Arkansas and Oklahoma.
Offen is a leading independent distributor of motor fuels, propane and 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 third 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, Ark., and distributes propane to customers through its affiliate company Tri-State Propane LLC. 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.
“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.”
Offen is a portfolio company of Court Square Capital Partners, a New York based private equity firm.