Mergers & Acquisitions

ArcLight Completes Gulf Oil Acquisition, Including Assured Dealer Business

BOSTON -- Chelsea Petroleum Products Holdings LLC completed its purchase of Gulf Oil LP from Cumberland Farms Inc. today. Chelsea Petroleum Products is an affiliate of ArcLight Capital Partners LLC, one of the leading private equity firms focused on energy infrastructure investments. The acquisition of Gulf is the second major terminal acquisition by ArcLight in the past 12 months, according to the company.

In a related transaction, Blue Hills Fuels LLC, another ArcLight affiliate, purchased Gulf's Assured Dealers business. The Assured Dealers business collects rent from over 200 owned or leased, but non-operated, independently franchised sites under the Gulf or Mobil brand that also purchase branded product under contract from Gulf.

Gulf is a terminal operator and wholesaler of refined petroleum products, including heating oil, diesel fuel and gasoline. It marketed 3.3 billion gallons of products in 2014. Gulf owns and operates a comprehensive network of 12 proprietary refined-product storage terminals, with connectivity via the Buckeye and Laurel pipelines, as well as barge access that allows Gulf to source product from Canada, Europe, the Caribbean and all of the major United States refining markets. Gulf's extensive distribution network includes gasoline retail centers, wholesale distributors and commercial and industrial accounts.

It distributes motor fuels, both gasoline and diesel, to over 2,300 branded outlets, as well as 1,000 private-label retail outlets operated by major chain retailers.

Since its establishment in 2001, ArcLight has invested over $13.9 billion across multiple energy cycles in more than 90 investments. Based in Boston, with an additional office in Luxembourg, the firm's investment team brings extensive energy expertise, industry relationships and specialized value creation capabilities to its portfolio.

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