Offen Petroleum announces acquisition of Bosselman Energy
Acquisition will strengthen Offen Petroleum's presence in Colorado, Nebraska, Kansas and Iowa.
Offen Petroleum, a leading independent fuel distributor has signed a binding agreement to acquire the business assets of fuel distributor Bosselman Energy and Bosselman Carriers, a trucking company, both based in Nebraska.
Offen is a portfolio company of Court Square Capital Partners, a New York based private equity firm. It provides motor fuel, lubricants, and petroleum logistics services in Colorado and 15 surrounding states. The combination further expands the business into the Midwest. Going forward the business will operate as Offen Petroleum. The Bosselman Grand Island office will be a regional operations centre and the bulk plants will remain open and operate as Offen Petroleum going forward.
“This transaction affords us the opportunity to strengthen our Colorado operations while expanding into new geographies and business lines. Nebraska, Kansas and Iowa are adjacent to our core footprint, allowing us to work with our existing suppliers in new territories," said Bill Gallagher, CEO of Offen Petroleum.
Bosselman Energy and Carriers is owned by Fred Bosselman and are separate companies from Bosselman Enterprises. Bosselman Enterprises, that includes Pump & Pantry, truck stops and hotels, is not being bought by Offen.
