Two Companies Team Up to Buy Southeast Marketer's Wholesale Business
Dallas, Tx June 05, 2017
Two companies have teamed up to buy the transportation and marketing asset of Superior Transport Inc., also known as STi Fuels, a distributor that delivers over 75 million gal of fuel annually in northern Alabama, northwestern Georgia and southern Tennessee.
Empire Petroleum Partners, one of the biggest "roll-up" players in the U.S., will acquire the consignment and wholesale assets, involving over 120 consignment and dealer supply accounts. Usher Transport will pick up the transportation division assets.
STi is headquartered in Rome, Ga., and was initially the wholesale and transportation division of D&D Oil Co. (also known as Cowboys Food Mart). Fifteen years ago, STi was incorporated as a new entity and operated as a sister firm to D&D Oil until the sale of the Cowboys Food Mart chain to The Pantry in 2004. In 2008, STi sold its common carrier business (78 transports operating in four states) to Kenan Advantage Group.
Empire will pick up 47 consignment accounts as well as wholesale supply contracts with 77 customers. Most of the fuel is sold under the proprietary Hi- Tech and Smile brands, but the company also supplied unbranded gas to independent marketers. STi supplied six Shell sites and 11 BP sites and was a jobber for both companies.
STi will continue to operate a commercial fuels business, Enterprise Oil.
The transactions were advised through Matrix Capital Markets Group, with assistance on valuation and marketing through a structured sale business.
-- Tom Kloza, email@example.com
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