LV Petroleum Expands Travel Center Portfolio
LAS VEGAS — LV Petroleum continues to grow its presence in the travel center landscape.
The Las Vegas-based company acquired two travel centers from Wilmoth Oil Co. LLC. Both travel centers are located in Missouri, according to Downstream Energy Group (DEG), an advisory firm that acted as the exclusive merger-and-acquisition (M&A) advisor on the deal.
The two-property portfolio that changed hands is comprised of the Ozarks Travel Center in Mt. Vernon and TA Strafford in Strafford. The Ozarks Travel Center is a full-service TA-branded travel center with 225 truck parking spots, nine diesel lanes, three truck service bays, six showers, three food concepts (Wendy's, Subway and a barbecue food concept) and 26 gas multiproduct dispensers (MPDs). TA Strafford is a full-service travel center with 130 truck parking spots, eight diesel lanes, two truck service bays, eight showers, two food concepts (Taco Bell and Subway) and four gas MPDs.
[Read more: What Does the Travel Center of the Future Look Like?]
LV Petroleum is a key franchisee of TravelCenters of America. It operates more than 30 travel centers and 71 quick-service restaurants, providing services and amenities across 17 states nationwide.
"This strategic acquisition is a transformative step for LVP as we continue to deliver on our promise to provide exceptional service and innovative solutions to travelers. These travel centers represent key hubs for convenience and connectivity, and we are excited to integrate them into our network," said Quyntyn Johnson, president of LV Petroleum.
LV Petroleum has been busy expanding its presence in the travel center industry through strategic acquisitions and partnerships. In 2024, LVP acquired a multisite travel center portfolio — Railroad Pass Travel Center and Eldorado Pass Travel Center — located outside of Las Vegas, along with other single site acquisitions throughout the United States.
Additionally, it has six large-format, new-to-industry travel centers under development and a growth pipeline consisting of single-site acquisitions, according to DEG.
In its capacity as M&A advisor, DEG conducted a thorough strategic review of the target acquisition, which included providing valuation services, designing, implementing, and managing the acquisition process.
"LVP is acquiring two high-profile travel centers that will further strengthen their growing footprint throughout the United States," said Jeff Traub, partner at DEG. "The principals of LV Petroleum have built an exceptional business, and it has been an honor to represent them in this transaction."