Bulktransporter 5727 Overland Petro 0
Bulktransporter 5727 Overland Petro 0
Bulktransporter 5727 Overland Petro 0
Bulktransporter 5727 Overland Petro 0
Bulktransporter 5727 Overland Petro 0

Lariat-backed Offen Petroleum to acquire Overland Petro

Aug. 29, 2018
Offen Petroleum, an independent fuel distributor, recently signed a binding agreement to acquire the business assets of Overland Petroleum.

Offen Petroleum, an independent fuel distributor, recently signed a binding agreement to acquire the business assets of Overland Petroleum

Offen is backed by Lariat Partners, a Denver CO-based private equity firm. Offen is a provider of motor fuel, lubricants and petroleum logistics services in Colorado and 12 surrounding states. The combination will create one of the largest fuel distributors in the Greater Rocky Mountain region operating as Offen Petroleum.

The transaction is expected to be completed in the third quarter of 2018 upon completion of regulatory and closing conditions.

“As leaders in our core markets, the combination creates a stronger company, better able to optimize the utilization of our fleet assets and expand upon our supplier relationships as we continue to efficiently serve our valued customers,” said Bill Gallagher, chief executive officer of Offen Petroleum.

“I am pleased that Darin Snow and Danny Ipson will be joining our expanded leadership team. Further, with a team of 100-plus experienced drivers, combined with our longstanding supply relationships, modern fleet, scalable processes and systems, and best-in-class team, we will continue to safely deliver superior levels of customer service and a full slate of motor fuel product offering.”

Based in St. George UT and owned and operated by the Snow and Ipson families, Overland Petroleum is an independent fuel distributor that operates in the Greater Rocky Mountain Region. In recent years, Overland focused its growth by delivering branded fuel to independent convenience retailers.  

Overland concentrated on the Sinclair brand but also offers Conoco, Phillips 66 and the brands licensed by Andeavor. In addition to these branded relationships, like Offen, Overland distributes wholesale gasoline and diesel fuel to unbranded fuel retailers and commercial customers across the Rocky Mountains and Southwest regions of the United States. Overland controls its own fleet of tank transports and currently operates in Utah, Arizona, Nevada, Idaho, Colorado, Wyoming, Montana and New Mexico. 

“This transformative acquisition nearly doubles the size of Offen and creates a leader in the greater Rocky Mountain region,” said Jay Coughlon, managing partner at Lariat. “Since partnering with Bill, Offen has outperformed our expectations with strong organic growth and continued investment in people and systems while maintaining industry leading safety performance.

“The addition of Overland’s strong management team deepens our already strong executive bench and enhances our ability to continue growing. We continue to pursue acquisition opportunities that will strengthen our existing operations as well as penetrate new geographic markets.”