M&A Deal Summary

Asphalt Materials Acquires Marathon Petroleum - Three Asphalt Terminals

On November 12, 2020, Asphalt Materials acquired energy services and equipment company Marathon Petroleum - Three Asphalt Terminals from Marathon Petroleum

Acquisition Highlights
  • This is Asphalt Materials’ 1st transaction in the Energy Services and Equipment sector.
  • This is Asphalt Materials’ 2nd transaction in the United States.
  • This is Asphalt Materials’ 1st transaction in Ohio.

M&A Deal Summary
Date 2020-11-12
Target Marathon Petroleum - Three Asphalt Terminals
Sector Energy Services and Equipment
Buyer(s) Asphalt Materials
Sellers(s) Marathon Petroleum
Deal Type Divestiture

Target

Marathon Petroleum - Three Asphalt Terminals

Findlay, Ohio, United States
Marathon Petroleum's Three Asphalt Terminals provide safety, quality, and service with the values of Asphalt Materials.

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Buyer(S) 1

Buyer

Asphalt Materials

Indianapolis, Indiana, United States

website

Category Company
Founded 1956
Sector Construction
DESCRIPTION

Asphalt Materials, Inc. is an asphalt company focused on the formulation, manufacturing, and R&D of asphalt binders and emulsions. Asphalt continually supplies high quality products and services allowing it to excel in pavement preservation techniques and construction services. The Company assists federal, state, local & private authorities in building economical and reliable pavements, while maintaining safety and environmental stewardship to the highest standards.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-08 HG Meigs

Portage, Wisconsin, United States

HG Meigs serves the Wisconsin road building industry with quality products ranging from Asphalt Cements to Asphalt Cutbacks and Asphalt Emulsions. Operating three Wisconsin terminals, Abbotsford, Eau Claire, and Portage, HG Meigs is able to supply it’s network of upper Mid-West customers with all of their bituminous needs, from asphalt cement to emulsions.

Buy -

Seller(S) 1

SELLER

Marathon Petroleum

Findlay, Ohio, United States

website

Category Company
Founded 1887
Sector Energy Services and Equipment
Employees17,700
Revenue 120.0B USD (2021)
DESCRIPTION
Marathon Petroleum's corporate headquarters in Findlay, Ohio.
Marathon Petroleum's corporate headquarters in Findlay, Ohio.

Marathon Petroleum engages in refining, transporting, and marketing petroleum products primarily in the United States. Marathon Petroleum was founded in 1887 and is based in Findlay, Ohio.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 2 of 2
State (Ohio) 2 of 2
Country (United States) 2 of 2
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-02 Speedway

Enon, Ohio, United States

Speedway is a US convenience store chain with approximately 3,900 stores located in 36 states. The Company was formed in 1997 and is headquartered in Enon, Ohio.

Sell $21.0B
Mergr

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