Offen Petroleum
Offen Petroleum Screenshot

Offen Petroleum to acquire Petromark

May 14, 2021
Addition includes fuel distributor, which sells branded and unbranded motor fuels, and its affiliated trucking company

Offen Petroleum is acquiring the business assets of Petromark, a motor fuel distributor, and Petromark Transportation, its affiliate trucking company, both headquartered in Harrison AR.

Offen is a provider of motor fuel, propane, lubricants, and petroleum logistics services in 23 states in the Midwest and Western U.S. The business combination expands Offen’s footprint more deeply into Arkansas, Missouri and Oklahoma. 

Petromark is owned jointly by Stephen Lair and Steve Turner and is a 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.

Steve Turner will serve as an advisor to Offen Petroleum and assist with the continued growth of the business, the company said.

“I am very pleased that we are able to add such a successful business to further the growth of Offen Petroleum,” said Bill Gallagher, CEO of Offen Petroleum. “Petromark is a perfect fit to the Ozark Mountain Energy business, which we acquired in December of last year.

“Petromark allows us the opportunity to strengthen our contract dealer business and deepen our presence in the Ozark Region. 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.”

The transaction is expected to be completed May 18, Offen said, 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 (DEP) provided merger and acquisition advisory services to Petromark.

“Offen Petroleum is acquiring high-quality wholesale fuel supply assets in a location strategic to their expanding footprint,” said Jeff Traub, partner of DEP. “Lair and Turner built an exceptional company and it’s been a pleasure representing them in this transaction.”

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