Griffith Energy was acquired by Superior Plus on January 20, 2010

Energy Services And Equipment Company

Out of 60 sectors in the Mergr database, energy services and equipment ranked 15 in number of deals in 2010. The largest energy services and equipment acquisition in 2010 was BJ Services - which was acquired by Baker Hughes Company for $5.5B.

Join Mergr to view all 105 acquisitions of energy services and equipment companies in 2010, including 44 acquisitions by private equity firms, and 61 by strategics.

Griffith Energy, Inc.

3819 Oak Orchard Road,
Albion, New York 14411
United States,
(585) 589-5111
www.griffithenergy.com

Griffith Energy a combined marketers of propane, heating oil, and power fuels in western and central New York. Based in Rochester, NY, Griffith distributes energy to more than 90,000 residential customers and more than 8,000 wholesale, commercial, and gasoline customers. Griffith also distributes gasoline, diesel fuel and kerosene to commercial customers such as farmers, trucking and construction companies, and to branded gasoline dealers such as Mobil, Sunoco, and Citgo. In November 2003, PNC Equity Partners worked exclusively with the management team of Griffith to buy the company from Energy East Corporation. PNC Equity Partners conducted the due diligence process, structured the financing, and negotiated the acquisition, investing $17.4 million in the form of preferred and common stock. In addition, PNC Equity Partners partnered with the former owner of Griffith who, along with management, made a significant capital contribution. PNC Equity Partners arranged the senior and subordinated financing with Merrill Lynch leading the senior debt syndicate and Allied Capital providing subordinated debt to complete the transaction. Since PNC Equity Partners' initial investment, the company has completed four acquisitions and refinanced its senior and subordinated debt.


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