GILMAN, Ill. — Majors Management LLC has acquired the K&H Truck Plaza in Gilman, Ill., located off of Interstate-57, 90 miles south of Chicago. This acquisition represents the company’s first foray into the state of Illinois.
The 12-acre K&H Truck Plaza is a BP-branded truckstop and travel center that features a truck repair facility, traditional home-style restaurant, Dunkin Donuts franchise, convenience store and video gaming area. The business also features a Tesla EV charging area with eight charging stations.
“A series of unplanned and unfortunate events prompted the sale of our facility. I have absolute confidence [Majors Management] will be a great fit for the employees and the local community,” said Andrew Herscher, K&H president and part owner.
“The availability of this strategically located facility neatly fit our current plans to expand our retail petroleum focus to include truck stops and travel centers,” said Majors Management President Ben Smith. “Given the spirit of cooperation exhibited by both sides of this transaction, we were able to enjoy a timely and mutually satisfactory outcome.”
PetroActive Services of Coral Gables, Fla., provided confidential guidance to K&H on this transaction. “Having an experienced buyer of the quality and caliber of Majors Management solidified our confidence of a mutually successful outcome for all parties,” said PetroActive President Mark Radosevich.
In the last three years, Majors Management has completed 16 acquisitions across 12 states. Most recently, in early November, it acquired 10 c-stores in East Texas from Morgan Oil Co. Inc., Nacogdoches, Texas.
Lawrenceville, Ga.-based Majors Management is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. It supplies fuel to more than 1,200 c-stores, and it partners with petroleum brands including BP, Shell, Chevron, Exxon, Marathon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon. Current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Illinois.
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