Mergers & Acquisitions

Island Energy Completes Acquisition of Chevron’s Hawaii Assets

Company already making plans to expand statewide

KAPOLEI, Hawaii --Island Energy Services LLC has completed its acquisition of Chevron USA Inc.’s refining, distribution and retail assets in Hawaii.

The assets include the refinery in Kapolei; four product distribution terminals on Oahu, Maui, Kauai and Hawaii Island; pipeline distribution systems; and other related downstream assets in Hawaii. In addition, the company will convert the network of Chevron-branded gas stations to Chevron’s Texaco brand over the next year.

Beginning in 2017, Island Energy’s retail gasoline presence will undergo a transition from the Chevron with Techron to Chevron’s Texaco with Techron, and the company expects to continue to reward loyal customers with the same discounts at the pump associated with the Safeway Reward Points and Chevron credit-card programs.

Most of the Hawaii-based team members who were employed by Chevron have accepted offers from Island Energy, including Jon Mauer, a 28-year Chevron executive and current Hawaii refinery manager, who will continue as the company’s president and CEO.

“This is an exciting opportunity to build on the strong foundation that Chevron established in Hawaii,” said Mauer. “As we move forward under the new Island Energy name, the same dedicated professionals responsible for decades of safe, reliable and environmentally responsible operations in Hawaii will continue to deliver high-quality gasoline and other refined products and services to meet the islands’ energy and transportation needs.”

Mauer said that Island Energy plans not only to improve its operations, but also to pursue opportunities to expand the business statewide. The company has already begun to hire additional employees to support its intention to grow.

Island Energy Services is controlled by One Rock Capital Partners LP, a New York-based private-equity firm. Island Energy’s headquarters will be in Kapolei on the island of Oahu and will, through its wholly owned affiliates IES Downstream LLC and IES Retail LLC, continue operating the assets previously owned and operated by Chevron USA.

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