Wednesday, March 2, 2016
MFA Oil Co. (Columbia, Mo.) has acquired S&S Oil and Propane Co. Inc. of Emporia, Kan., a propane, refined fuels, and lubricants retailer. The transaction includes 17 propane storage facilities, five bulk fuel storage terminals, five card refueling locations, and an office in Emporia. Financial details were not released. The deal marked the fourth acquisition for MFA Oil during its current fiscal year.
“This is a major acquisition that will significantly broaden our business in Kansas and fits in well with the Lybarger Oil purchase we made in September 2015,” said Don Smith, MFA Oil director of mergers and acquisitions. “The volume of business we’ve acquired from S&S and Lybarger is larger than all of MFA Oil’s previous bulk fuel and propane acquisitions for the last five years combined.”
The S&S Oil acquisition added 5.2 MMgal. of annual propane sales and 5.1 MMgal. of annual refined fuel sales to the company. S&S serves a 24-county territory stretching from Kansas’ eastern border to the outskirts of Wichita, Kan., and from Interstate 70 southbound to U.S. Highway 54. “MFA Oil has extensive experience working with rural communities and their commitment to customers mirrors what we’ve practiced with our clientele for almost 60 years,” said Joyce French, S&S vice president and co-owner. “My brother, Jim Shepherd [S&S president and co-owner], and I are excited to find such a reputable company to continue servicing our customers in the future.”
MFA Oil said it plans to continue evaluating acquisition opportunities in its existing market area and other states where it can expand its footprint. “We’re really excited about the high-quality portfolio of assets we’ve been able to acquire recently,” said Jon Ihler, MFA Oil vice president and sales and market. “These acquisitions bring great value to our member-owners and great opportunities for us to grow in the future.”
“This is a major acquisition that will significantly broaden our business in Kansas and fits in well with the Lybarger Oil purchase we made in September 2015,” said Don Smith, MFA Oil director of mergers and acquisitions. “The volume of business we’ve acquired from S&S and Lybarger is larger than all of MFA Oil’s previous bulk fuel and propane acquisitions for the last five years combined.”
The S&S Oil acquisition added 5.2 MMgal. of annual propane sales and 5.1 MMgal. of annual refined fuel sales to the company. S&S serves a 24-county territory stretching from Kansas’ eastern border to the outskirts of Wichita, Kan., and from Interstate 70 southbound to U.S. Highway 54. “MFA Oil has extensive experience working with rural communities and their commitment to customers mirrors what we’ve practiced with our clientele for almost 60 years,” said Joyce French, S&S vice president and co-owner. “My brother, Jim Shepherd [S&S president and co-owner], and I are excited to find such a reputable company to continue servicing our customers in the future.”
MFA Oil said it plans to continue evaluating acquisition opportunities in its existing market area and other states where it can expand its footprint. “We’re really excited about the high-quality portfolio of assets we’ve been able to acquire recently,” said Jon Ihler, MFA Oil vice president and sales and market. “These acquisitions bring great value to our member-owners and great opportunities for us to grow in the future.”
