Offen Petroleum recently completed two separate transactions it says strengthens the company’s geographic density and product offerings.
The Colorado-based distributor acquired a portfolio of branded motor fuel-dealer contracts from Petroleum Management, a distributor headquartered in Platteville, Col., and also added certain logistics assets of Pathfinder Transport, a propane distributor with operations in Missouri, Arkansas, and Oklahoma.
“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 distributes motor fuels, propane, and lubricants, and offers petroleum logistics services in 26 states throughout the Western and Midwestern United States.
Petroleum Management is owned jointly by Bill Scaff and Ed Holloway, and is a long-standing 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, Offen said.
The addition of these customers deepens Offen’s operations in Colorado, enhances its position as one of the leading fuel distributors in the U.S., and grows its commitment to the branded dealer business, the company added.
Pathfinder, headquartered in Hiwasse, Ark., distributes propane to customers through its affiliate company, Tri-State Propane. 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.
