Majors Management LLC announced its acquisition of the K&H Truck Plaza located off I-57, 90 miles south of Chicago. This acquisition represents the company’s first foray into the state of Illinois.
“The availability of this strategically located facility neatly fit our current plans to expand our retail petroleum focus to include truck stops and travel centers,” stated Majors President Ben Smith. “Given the spirit of cooperation exhibited by both sides of this transaction, we were able to enjoy a timely and mutually satisfactory outcome.”
The 12-acre K&H Truck Plaza is a modern, well established BP-branded truck stop and travel center that features a busy truck repair facility, traditional home-style restaurant, Dunkin Donuts franchise, convenience store and video gaming area. The business also features a modern Tesla EV charging area with eight charging stations.
“A series of unplanned and unfortunate events prompted the sale of our facility,” stated Andrew Herscher, K&H president and part owner. “Due to the experienced guidance that we received and the friendly professional approach exhibited by the Majors team, the overall process was positive. I have absolute confidence they will be a great fit for the employees and the local community.”
PetroActive Services of Coral Gables, Fla., provided confidential guidance to K&H on this transaction.
“We enjoyed having the opportunity to assist Andrew with the overall divestiture process and wish him much future success,” stated PetroActive President Mark Radosevich. “Having an experienced buyer of the quality and caliber of Majors Management solidified our confidence of a mutually successful outcome for all parties.”
Lawrenceville, Ga.-based Majors Management LLC is an owner, developer and operator of convenience stores and a distributor of high-quality branded motor fuels. Majors and its affiliates supply fuel to over 1,200 convenience store locations. Majors partners with leading petroleum brands including BP, Shell, Chevron, Exxon, Marathon, Citgo, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon. Its current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Illinois. In the last three years, Majors has completed 16 acquisitions across 12 states.