Offen Petroleum, an independent fuel distributor, has acquired the business assets of Petromark Inc., a motor fuel distributor, and Petromark Transportation LLC, its affiliate trucking company, both headquartered in Harrison, AR. Offen is a provider of motor fuel, propane, lubricants, and petroleum logistics services in 23 states in the Midwest and Western U.S. It is also a portfolio company of private equity firm Court Square Capital Capital Partners. The business combination expands Offen more deeply into Arkansas, Missouri, and Oklahoma.
Petromark is owned jointly by Stephen Lair and Steve Turner and is a wholesaler of motor fuels in Arkansas, Missouri, and Oklahoma.
“I am very pleased that we are able to add such a successful business to further the growth of Offen Petroleum.” said Bill Gallagher, CEO of Offen Petroleum. “Petromark is a perfect fit to the Ozark Mountain Energy business, which we acquired in December of last year. Petromark allows us the opportunity to strengthen our contract dealer business and deepen our presence in the Ozark Region. Additionally, I am pleased that Steve Turner will be joining us to share his wealth of experience, knowledge and dedication to his customers that has made his company so successful.”
“Stephen and I have enjoyed the experience of operating in both the retail and wholesale fuel businesses through the years and we are pleased that a company, such as Offen, with the same dedication to operational excellence will continue to serve our valued customers,” said Turner. “I look forward to working with Bill and his team as we jointly grow this business.”
Downstream Energy Partners LLC provided exclusive merger and acquisition advisory services to Petromark.