Offen Petroleum Grows Ozark Mountain Energy Business
The company is acquiring the business assets of Petromark Inc. and its affiliate trucking company.
COMMERCE CITY, Colo. — Offen Petroleum is boosting its presence in Arkansas, Missouri and Oklahoma.
The company is acquiring the business assets of Petromark Inc., a motor fuel distributor, and Petromark Transportation LLC, its affiliate trucking company. Both are headquartered in Harrison, Ark.
Petromark is owned jointly by Stephen Lair and Steve Turner, and is a significant wholesaler of motor fuels in Arkansas, Missouri and Oklahoma. The company sells branded motor fuels under the Shell, Phillips 66, Valero, Sinclair, Conoco and VP Racing banners while also selling unbranded motor fuel to retailers.
Turner will be an advisor to Offen Petroleum and will assist with the continued growth of the business.
"I am very pleased that we are able to add such a successful business to further the growth of Offen Petroleum. Petromark is a perfect fit to the Ozark Mountain Energy business, which we acquired in December of last year," said Bill Gallagher, CEO of Offen Petroleum. "Petromark allows us the opportunity to strengthen our contract dealer business and deepen our presence in the Ozark Region."
Offen Petroleum created the Ozark Mountain Energy business with its late 2020 acquisition of Mt. Vernon, Mo.-based Ozark Mountain Energy and its affiliate trucking company, Petroleum Express, as Convenience Store News previously reported.
"Additionally, I am pleased that Steve Turner will be joining us to share his wealth of experience, knowledge and dedication to his customers that has made his company so successful," he added.
The transaction is expected to be completed on May 18 with combined operations under the Offen Petroleum name starting on May 19.
"Stephen and I have enjoyed the experience of operating in both the retail and wholesale fuel businesses through the years and we are pleased that a company, such as Offen, with the same dedication to operational excellence will continue to serve our valued customers," Turner said. "I look forward to working with Bill and his team as we jointly grow this business."
Downstream Energy Partners LLC provided exclusive merger and acquisition advisory services to Petromark.
Commerce City-based Offen Petroleum is a provider of motor fuel, propane, lubricants, and petroleum logistics services in 23 states in the Midwest and Western United States. It is a portfolio company of Court Square Capital Partners, a New York-based private equity firm.