DENVER — Offen Petroleum, an independent fuel distributor, has signed a binding agreement to acquire the business assets of fuel distributor Bosselman Energy and trucking company Bosselman Carriers. The deal does not include Bosselman Enterprises’ 45-unit Pump & Pantry convenience-store chain and two Bosselman Travel Centers. It also does not include Bosselman Tank & Trailer.
Offen Petroleum is a portfolio company of Court Square Capital Partners, a New York-based private equity firm. The Commerce City, Colo.-based company provides motor fuels, propane, lubricants and petroleum logistics services in Colorado and 15 surrounding states.
The deal further expands the business into the Midwest. With the addition of Bosselman Energy, Offen Petroleum 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 also sells lubricant products and solutions for the commercial, industrial and passenger car segments, as well as diesel exhaust fluids.
The combined business will operate as Offen Petroleum. Bosselman Energy’s Grand Island, Neb., headquarters office will become a regional operations center, and the company’s bulk plants will remain open and operate as Offen Petroleum.
The companies expect the transaction to close in April 2020. Travis Hasselmann, chief financial officer of Bosselman Energy, will join Offen Petroleum’s executive leadership team as senior vice president of Midwest operations.
Bosselman Energy has a more than 70-year history in the petroleum industry and operates in Nebraska, Colorado, Kansas and Iowa. In recent years, the company has focused its growth on marketing unbranded refined fuels and propane to end users. Bosselman Energy also markets gasoline and diesel to dealer and commercial customers.
“We felt Offen was an excellent fit for our employees and customers,” owner Fred Bosselman said. “They will help grow and expand the business, and this will leave me more time to focus on our tank and trailer business.”
“This transaction affords us the opportunity to strengthen our Colorado operations while expanding into new geographies and business lines,” said Bill Gallagher, CEO of Offen Petroleum “Nebraska, Kansas and Iowa are adjacent to our core footprint, allowing us to work with our existing suppliers in new territories. 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.
“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.”
Fred Bosselman and his family opened Bosselman & Eaton Truck Stop on U.S. Highway 30 in Grand Island in 1948. The company grew and expanded into many new ventures, including convenience stores, truck plazas, fuel and propane services, transportation services, restaurants, truck repair shops, lodging and storage and truck rental. It also owns the Nebraska Danger indoor professional football team. It operates in 23 states.
The company split into two entities in 2011 to handle its growth and diversity of divisions. Bosselman Energy Cos. are focused on wholesale and transportation. Bosselman Enterprises focuses on the other businesses.
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