Superior Plus Corporation announced February 18 that its subsidiary, Superior Plus LP, has entered into a definitive agreement with Birch Hill Equity Partners to sell its specialty chemicals business.
The sale of Superior’s Specialty Chemicals business represents the final step in Superior’s long-term portfolio transformation into a pure-play energy distribution company.
With this sale, Superior is reinforcing its focus on growing its North American retail propane distribution platform and delivering long-term shareholder value. Proceeds from the transaction will improve Superior’s financial flexibility and allow the company to accelerate its growth through acquisitions of retail propane distribution businesses.
“We are excited to enter into this transaction with Birch Hill,” said Luc Desjardins, president and chief executive officer of Superior. “The sale of specialty chemicals is an important component of our strategic plan and provides us with additional capital to further accelerate our accretive growth strategy in the United States propane market.”
