KSS Fuels to Acquire MPSI, Grow into New Markets
Manchester, United Kingdom, and Tulsa, Okla. – KSS Fuels will acquire Market Planning Solutions Inc. (MPSI) and the respective organizations will be merged, effective in late May, subject to shareholder approval, the companies reported.
In addition to integrating both companies' industry-leading fuel pricing software and analytics, the combined organization will build upon MPSI's recognized leadership in network planning capabilities globally to serve petroleum, convenience and grocery retailers of all sizes and in all segments of the market, according to the companies. It will also leverage the companies' collective research, sales and marketing resources to diversify into new market verticals and sectors.
"Together, we will provide global reach, unparalleled service and a comprehensive suite of proven solutions to deliver even greater value to customers in our existing markets and to serve the rapidly developing needs of customers in emerging fuels markets," Bob Stein, president and chief executive officer of KSS Fuels, who will manage the combined entity, said in a released statement. "We will draw upon our strong customer relationships and broad experience in serving the oil and gas and petroleum retail industries. Besides providing continuity to current products and services of both companies, we will also create valuable new service and business analytic offerings by teaming the best minds and proven industry experts to maximize the benefits of the math, science and intellectual capital of both of our organizations. In doing so, we will create additional opportunities to help our customers -- and our company -- grow."
The companies currently serve approximately 500 customers in more than 80 countries, with little overlap in customer base.
"With its broadened geographic reach, the combined organization will be in a strong position to provide value-added solutions across the globe, including Africa, China, India, Japan, Russia, Southeast Asia, Europe and the Americas," James Auten, president and chief executive officer of MPSI said in a released statement.
KSS Fuels will continue to operate under both the KSS Fuels and MPSI brands for the foreseeable future, and will maintain and service existing products. Its headquarters will be in Manchester, UK, with MPSI offices remaining in Tulsa, Okla., and international locations.