USA: GPM Petroleum files for $100m IPO
GPM Investments could be on the verge of more retailing acquisitions after filing its master limited partnership, GPM Petroleum LP, in an initial public offering that could raise up to $100 million.
GMP Petroleum distributes motor fuel to GMP Investments´ more than 600 acquired convenience stores and petrol stations, reports CSP News.
The company has been investing heavily in new acquisitions during the last year. Some of the most relevant buys have been 92 sites from Roadrunner, Admiral Petroleum´s 137 stations and GasMart´s retailing network.
Private equity firm Harvest Partners SCF acquired a minority ownership worth $62.5 million in GPM Investments last January.
