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Oil & Gas Equipment & Services M&A image Oil & Gas Equipment & Services M&A » By The Online Investor Staff, updated Sat., Feb. 29, 9:03 AM Recent mergers and acquisitions in the Oil & Gas Equipment & Services M&A category.

Slide #38. Sprague Resources LP Hess' Commercial Fuels Business

Acquirer: Sprague Resources LP (NYSE:SRLP)
Acquiree: Hess' Commercial Fuels Business
Details: Sprague Resources LP (NYSE: SRLP) ("Sprague") announced today it has signed an agreement to acquire the Commercial Fuels business of Hess Corporation ("Hess") outside of the New York City service area. The Commercial Fuels business is one of the largest marketers of refined products on the East Coast of the United States, serving commercial, industrial and government accounts through both former Hess terminal locations and third-party facilities. The transaction is expected to be finalized prior to the end of the year.

Sprague Resources is a wholesale distributor of refined products. Co.'s business segments include: refined products, which purchases heating oil, diesel fuel, residual fuel oil, kerosene, jet fuel, gasoline and asphalt, and sells them to its customers; natural gas, which purchases, sells and distributes natural gas to commercial and industrial customers; materials handling, which offloads, stores and/or prepares for delivery customer owned products, including asphalt, crude oil, clay slurry, salt, gypsum, coal, petroleum coke, caustic soda, tallow, pulp and heavy equipment; and other operations, which includes the marketing and distribution of coal conducted in its Portland, ME terminals.

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Company Name: 
Sprague Resources LP
Website: 
www.spragueenergy.com
Sector: 
Oil & Gas Equipment & Services
 

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