- The acquisition is Offen’s first into Chicagoland and the Great Lakes region
- Gas Depot was founded by George Nediyakalayil in 1999
- Downstream Energy Partners and Trilla Consulting Group provided M&A advisory services to Gas Depot
Offen Petroleum, which is backed by Court Square Capital Partners, has acquired Chicago-based Gas Depot’s wholesale division. No financial terms were disclosed.
Commerce City, Colorado-based Offen is a distributor of motor fuels, propane, lubricants, and offers petroleum logistics services throughout the U.S.
The acquisition is Offen’s first into Chicagoland and the Great Lakes region.
Gas Depot was founded by George Nediyakalayil in 1999 and is a distributor of motor fuels throughout the Midwest, including Illinois, Wisconsin, Indiana, and Missouri.
“I am very pleased that we have been able to impact the fuel industry over the past 23 years and now our team has chosen to redirect our efforts towards growing our other companies and businesses. Gas Depot has grown not just as a business, but an extended family that has created lifelong opportunities and relationships,” stated George Nediyakalayil, founder and CEO of Gas Depot in a statement. “While it is not easy to transition off this business, I know that Offen will be an excellent operator to continue the growth that we started.”
Downstream Energy Partners and Trilla Consulting Group provided M&A advisory services to Gas Depot.
Court Square has $7 billion of assets under management.