Offen Petroleum, an independent distributor of motor fuels, propane, lubricants and petroleum logistics services and a portfolio company of Court Square Capital Partners, has bought the wholesale division of Gas Depot Inc. and Gas Depot Oil Co., both headquartered in Chicago.
Gas Depot was founded by George Nediayakalayil in 1999 and is a full-service wholesale distributor of motor fuels throughout the midwest. Gas Depot sells motor fuels under Shell, Marathon, Citgo, BP, Exxon/Mobil, Gulf, Clark and its proprietary Gas Depot brands as well as supplying unbranded motor fuels. The deal marks Offen’s first acquisition into Chicago and the Great Lakes region. Gas Depot operates its own chain of gas stations and after the transaction, Gas Depot will continue to operate these stores.
“This is a unique opportunity for us to acquire a high-quality portfolio of customers in one of America’s largest markets,” says Bill Gallagher, Offen’s CEO.