Offen Petroleum to Acquire Nebraska-Based Fuel Distributor
COMMERCE CITY, Colo. — Offren Petroleum is expanding its presence in the Midwest with the acquisition of Bosselman Energy and Bosselman Carriers.
As part of the deal, Commerce City-based Offren Petroleum, an independent fuel distributor serving Colorado and 15 surrounding states, will acquire the business assets of fuel distributor Bosselman Energy and Bosselman Carriers, a trucking company. The combined entity will operate as Offren Petroleum.
The transaction — which is expected to close in April — will strengthen Offren Energy’s presence in Colorado, Nebraska, Kansas and Iowa.
"We are excited to welcome Bosselman's employees, customers and vendors to the Offen team. I congratulate Fred [Bosselman] on the professional organization he has built. This transaction affords us the opportunity to strengthen our Colorado operations while expanding into new geographies and business lines. Nebraska, Kansas and Iowa are adjacent to our core footprint, allowing us to work with our existing suppliers in new territories," said Bill Gallagher, CEO of Offen Petroleum. "We are eager to add propane operations and services to our product offering. The opportunity to deliver propane directly to residential customers complements Offen's purpose of providing energy to improve people's lives.
"I am pleased Travis Hasselmann, Bosselman Energy's [chief financial officer], will be joining Offen's executive leadership team as senior vice president of Midwest Operations," he added. "We look forward to continuing to grow our business organically while finding best-in-class distributors who wish to join our mission to be the leading fuel and propane provider in the Intermountain West."
Bosselman Energy and Carries were founded 70 years ago. The company, headquartered in Grand Island, Neb., is owned by Fred Bosselman and operates in Nebraska, Colorado, Kansas and Iowa.
In recent years, Bosselman has focused its growth on marketing unbranded refined fuels and propane to end users, as well as marketing diesel and gasoline to dealer and commercial customers.
"We felt Offen was an excellent fit for our employees and customers, they will help grow and expand the business and this will leave me more time to focus on our tank and trailer business," Bosselman said.
Offen is a portfolio company of Court Square Capital Partners, a private equity firm based in New York. With the addition of Bosselman Energy, the company will distribute more than 1.3 billion gallons of motor fuel annually and will serve as both a branded and unbranded wholesale motor fuel distributor in 16 states. In addition to motor fuels, Offen sells lubricant products and solutions for the commercial, industrial and passenger car segments, as well as diesel exhaust fluids used in emission controls.