Colorado-based fuel supplier Offen Petroleum completed the acquisition of Gas Depot’s wholesale division on January 4, 2023. Founded in 1999, Gas Depot’s fuel distribution offering provides motor fuels to brands throughout the Midwest. The purchase builds on Offen Petroleum’s acquisition strategy after purchasing G&S Oil Products in August 2022.
Gas Depot’s wholesale division offers full-service fuel distribution to leading brands in the Midwest, including Shell, BP, Exxon, Mobil and Gulf. Gas Depot also owns and operates a chain of gas stations not included in the acquisition. The purchase of Gas Depot’s wholesale division will see Offen Petroleum gain 150 retail customers in addition to an existing municipal clientele.
Operating in 41 states, this acquisition will help consolidate Offen’s position in Chicago and the surrounding areas. Founded in the 1930s as the Reedy Coal and Fuel Company, Offen now sees annual distribution exceeding 2.4 billion gallons of fuel. With investment from multi-billion dollar New York private equity firm Court Square Capital Partners, Offen Petroleum offers fuels, lubricants, diesel exhaust fluid and logistic services to a varied range of retail and municipal clients throughout the US.
M&A advisory firms Downstream Energy Partners and Trilla Consulting Group assisted Gas Depot throughout the acquisition. Both are based in Chicago, and the firms have extensive experience advising clients in the energy sector. DEP partner Jeff Traub highlighted the regional advantage of the acquisition, stating that it will help Offen continue to establish their presence in the Midwest.
Gas Deptot’s founder George Nediyakalayil discussed the acquisition, highlighting the company’s impact on the Midwest fuel industry since the company was founded in 1999. Discussing the sale of the wholesale division, Nediyakalayil expressed support for Offen’s ability to continue Gas Depot’s wholesale growth. Offen’s Chief Executive, Bill Gallagher, outlined the value of the acquisition, with a wide customer base now available in one of America’s biggest fuel markets.
Colorado-based fuel supplier Offen Petroleum completed the acquisition of Gas Depot’s wholesale division on January 4, 2023. Founded in 1999, Gas Depot’s fuel distribution offering provides motor fuels to brands throughout the Midwest. The purchase builds on Offen Petroleum’s acquisition strategy after purchasing G&S Oil Products in August 2022.
Gas Depot’s wholesale division offers full-service fuel distribution to leading brands in the Midwest, including Shell, BP, Exxon, Mobil and Gulf. Gas Depot also owns and operates a chain of gas stations not included in the acquisition. The purchase of Gas Depot’s wholesale division will see Offen Petroleum gain 150 retail customers in addition to an existing municipal clientele.
Operating in 41 states, this acquisition will help consolidate Offen’s position in Chicago and the surrounding areas. Founded in the 1930s as the Reedy Coal and Fuel Company, Offen now sees annual distribution exceeding 2.4 billion gallons of fuel. With investment from multi-billion dollar New York private equity firm Court Square Capital Partners, Offen Petroleum offers fuels, lubricants, diesel exhaust fluid and logistic services to a varied range of retail and municipal clients throughout the US.
M&A advisory firms Downstream Energy Partners and Trilla Consulting Group assisted Gas Depot throughout the acquisition. Both are based in Chicago, and the firms have extensive experience advising clients in the energy sector. DEP partner Jeff Traub highlighted the regional advantage of the acquisition, stating that it will help Offen continue to establish their presence in the Midwest.
Gas Deptot’s founder George Nediyakalayil discussed the acquisition, highlighting the company’s impact on the Midwest fuel industry since the company was founded in 1999. Discussing the sale of the wholesale division, Nediyakalayil expressed support for Offen’s ability to continue Gas Depot’s wholesale growth. Offen’s Chief Executive, Bill Gallagher, outlined the value of the acquisition, with a wide customer base now available in one of America’s biggest fuel markets.
