American Natural Expanding Retail, Wholesale Networks

By 
Greg Lindenberg, Editor, CSP

PITTSBURGH -- American Natural, the convenience-store and fuel distribution business owned by Cleopatra Resources LLC, is expanding its retail and wholesale networks.

The Pittsburgh-based company said it plans to open five additional retail sites in 2018. It has also acquired Satterlee Leasing LLC and certain business assets of W.G. Satterlee and Sons, Rochester Hills, Pa., a wholesale fuel distributor in western Pennsylvania.

The company also closed a series of financings.

Here are the details …

1. Retail growth

Expansion plans include an additional five retail locations in the Pittsburgh region that will use the same American Natural Energy Centre format as its flagship site in Harmar, Pa., designed by AIA Pittsburgh.

"Expanding our retail Energy Centre network and wholesale distribution infrastructure will offer unique benefits and best-in-class products and services to our entire customer base," said Jennifer Pomerantz, CEO of American Natural.

"American Natural's signature Eatery stands alone in the region for its premium quality, variety of fresh and local offerings and commitment to warm and efficient service," Pomerantz said. "American Natural's differentiated approach to fueling and convenience offers both a modern in-store experience and a choice of conventional and alternative fueling options."

The company is exploring additional sites in the Pittsburgh area and nearby markets for development, including sites that will offer compressed natural gas (CNG) solutions for fleet customers.

2. Wholesale growth

Complementing this growth, the company's wholesale distribution subsidiary, American Natural Supply, has acquired the key business assets of Satterlee, one of the leading wholesale fuel suppliers in western Pennsylvania. With this acquisition, ANS will become one of the largest commercial fuel suppliers in the region, with a network of terminals and related infrastructure that supports the fueling needs of thousands of customers. Notably, Satterlee provides fuel sales, delivery, management and related services to support E&P companies' field service activities in the Marcellus and Utica shale formations.

"We are proud to partner with the Satterlee team and are pleased to welcome them to American Natural. We believe the combined fueling infrastructure will help ANS further develop Satterlee's already strong market position and continue to provide industry-leading service to our customers," Pomerantz said.

3. Financial growth

Concurrent with these strategic announcements, the company also has closed a series of financing agreements, including a round of equity investment in American Natural's parent, Cleopatra Resources, led by Tiger Infrastructure Partners, a New York-based private-equity firm that invests in growing infrastructure platforms in communications, energy, transportation and related sectors.

American Natural Supply also closed a strategic financing partnership with Orion Energy Partners LP in connection with the Satterlee acquisition. New York-based Orion Energy is a credit-oriented private-equity firm focused on providing creative capital solutions to middle-market energy infrastructure businesses.

"Orion Energy is excited to announce this new partnership with ANS, Cleopatra and Tiger,” said Rob Rusk, co-founder and partner with Orion Energy. “The Satterlee acquisition creates one of the premier wholesale fuel supply companies in the region. This investment highlights Orion Energy's ability to combine energy infrastructure expertise and creative acquisition capital solutions for our partners to help support their long-term business goals.”