Offen Petroleum (Commerce City, Colorado) announced Aug. 23 that it has completed the acquisition of the wholesale division of G&S Oil Products (Centennial, Colorado), a full-service wholesale and retail marketer of branded motor fuels under the Conoco, Phillips 66, Sinclair and Shell brands, as well as a supplier of unbranded fuels, with a footprint covering the greater Front Range of Colorado.
Offen is an independent distributor of motor fuels, propane and lubricants, and also provides petroleum logistics services in 40 U.S. states. Offen said the acquisition further strengthens its ability to distribute major oil company-branded motor fuel to independent retailers.
G&S has been owned and operated by the Sussman family for over 50 years. Offen notes that, in addition to providing wholesale motor fuel services to third-party retailers, G&S has developed a “reputation of operational excellence” in their own network of gas stations and convenience stores. After the transaction, G&S will continue to operate their portfolio of convenience stores and automotive service centers.
“We’ve had a long relationship with Bill Gallagher, and we knew that if we were going to sell our wholesale business, Offen would be the best partner for not only our wholesale customers, but also for our company-operated stores, who will be a fuel customer of Offen’s,” stated Meyer Sussman, founder and president of G&S. “The Offen team has a reputation of providing the highest level of customer care and they have a full breadth of resources that will benefit our customers.”
This acquisition will add 40 new customers that operate gas stations under the Conoco, Phillips, and Sinclair brands along with five un-branded motor fuel customers. The addition of G&S’s customers deepens Offen’s operations in Colorado.
“Meyer and Jeff Sussman and their team of dedicated, long-term employees, are long-standing, highly respected operators in the motor fuel/convenience retail industry, and I am very honored that the Sussman’s are entrusting Offen to carry on their legacy of providing superior service to their customers,” said Bill Gallagher, Offen CEO. “This is a very special opportunity for us to be able to acquire such a high-quality portfolio of customers.”
Offen distributes over 2.2 billion gallons of motor fuel annually and will serve customers throughout 40 United 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. Offen is a portfolio company of Court Square Capital Partners, a New York-based private equity firm with $7 billion of assets under management.