THIBODAUX, La. — Gaubert Oil Co. closed on its acquisition of the former Morgan Oil Co. commercial fuels business from Majors Management LLC.
The transaction includes a bulk plant facility in Nacogdoches, Texas, its commercial fuels distribution business and related assets. Majors acquired the business as part of the overall Morgan Oil acquisition earlier this year, and the divestiture completes the strategic rationalization of that business.
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Thibodaux-based Gaubert Oil is an established multibulk plant commercial fuels distributor and store operator serving markets throughout Louisiana and East Texas.
"This acquisition complemented our current operating area, allowing us to more efficiently serve current customers, while strategically expanding our overall service area in Texas," said President Grady Gaubert, the company's president. "We look forward to integrating this business into our system and tangibly demonstrating to our new customers the quality service that has helped set us apart over the years."
Lawrenceville, Ga.-based Majors Management is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. Majors and its affiliates supply fuel to more than 1,400 c-stores. The company partners with leading petroleum brands including Marathon, BP, Shell, Chevron, Exxon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon.
"Whether it be c-stores or dealer supply, our primary business focus is on the retail side of the deal. When making an acquisition, optimally divesting noncore components such as commercial fuels and lubricants is part of our established business rationalization process. This business fell into that category," said Majors Management President Ben Smith. "We found the Gaubert team to be extremely professional throughout the process, allowing us to conclude this divestiture in a very seamless and timely fashion."
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PetroActive Real Estate Services LLC provided exclusive advisory services to Majors for the transaction.
"This is the second Majors commercial divestiture in the past year that we have supported, and I can’t speak highly enough about the level of professionalism consistently demonstrated by the Majors team," said Mark Radosevich, president of PetroActive Services. "Grady Gaubert and I have been industry friends for over twenty years and regular EMA supporters. I'm happy that my firm was able to match his business with this opportunity to create a truly win-win outcome for everyone."