Empire Petroleum Partners Registers for $100M IPO
DALLAS — Empire Petroleum Partners LP filed a Form S-1 on Tuesday with the U.S. Securities and Exchange Commission (SEC) to raise up to $100 million in an initial public offering (IPO).
Dallas-based Empire Petroleum distributes motor fuel to more than 1,300 gas stations. These fuels are sold under a variety of brand names, including Shell, BP, Sunoco, ExxonMobil, Gulf, Marathon, Valero, Chevron, CITGO and Phillips 66.
If approved by the SEC, Empire Petroleum will trade on the New York Stock Exchange under the symbol EPLP.
According to Renaissance Capital LLC, Empire Petroleum was founded in 2014, booked $1.5 billion in sales and had a $50-million profit for its fiscal year ended Dec. 31. Barclays and Wells Fargo are the joint bookrunners on the deal. No pricing terms were disclosed.
Empire Petroleum's SEC filing follows that of peer GPM Petroleum LP (GPMP), which filed in April to also raise up to $100 million in an IPO. As CSNews Online previously reported, GPM Investments LLC, operator of 502 convenience stores, would purchase a majority of its motor fuel from GPMP.