Island Energy completes Chevron Hawaii takeover
Island Energy Services has finalized the acquisition of Chevron’s refining, distribution, and downstream assets in Hawaii as part of the company’s expansion plans.
These include a refinery in Kapolei, four distribution terminals on Oahu, Maui, Kauai, and Hawaii Island, pipeline distribution systems, and other related downstream assets in Hawaii, whose value has not been disclosed.
Island Energy, a subsidiary of New York-based equity firm One Rock Capital Partners, will set up its headquarter in Kapolei, Oahu, Hawaii and will rebrand the acquired petrol station network from Chevron to Chevron Texaco.
Ninety-nine percent of Chevron staff has accepted to work for Island Energy, including Jon Mauer who will continue as the company's president and chief executive officer, according to a company release. More employees have been hired recently to support business growth.
"As we move forward under the new Island Energy name, the same dedicated professionals responsible for decades of safe, reliable and environmentally responsible operations in Hawaii will continue to deliver high-quality gasoline and other refined products and services to meet the Islands' energy and transportation needs," said Mauer.
