Superior Plus Corp has acquired the assets of Williams Energy Group, a New Bern, North Carolina-based retail propane distribution company. No financial terms were disclosed. Superior Plus, a Toronto-based energy distribution company, is backed by Brookfield Asset Management.
TORONTO–(BUSINESS WIRE)–Superior Plus Corp. (“Superior”) (TSX:SPB) announced today it has acquired the assets of a retail propane distribution company based in North Carolina, operating under the tradename, Williams Energy Group (“Williams Energy”).
“The acquisition of Williams Energy is Superior’s fifth acquisition in 2021 and supports our Superior Way Forward growth strategy initiative of executing on accretive acquisitions in our operational areas. This acquisition scales our existing footprint in North Carolina, and provides us with a strong customer base and synergy opportunities from combining our existing operations and the recent Freeman Gas acquisition,” said Luc Desjardins, Superior’s President and CEO. “Williams Energy is a well-run, customer-focused business and we look forward to welcoming the team and customers to Superior.”
Founded in 1998, Williams Energy is an established independent retail propane distributor delivering approximately ~7 million gallons of propane annually to 12,000 retail and commercial customers in North Carolina.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.