Add-on Acquisition • Distribution

Superior Plus Acquires Porco Energy

On September 18, 2018, Superior Plus acquired distribution company Porco Energy

Acquisition Context

This is Superior Plus’ 9th transaction in the Distribution sector.
This is Superior Plus’ 11th transaction in the United States.
This is Superior Plus’ 4th transaction in New York.

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M&A Deal Summary
Date	September 18, 2018
Target	Porco Energy
Sector	Distribution
Buyer(s)	Superior Plus
Deal Type	Add-on Acquisition

Target Company

Porco Energy

Marlboro, New York, United States

Porco Energy Corp. is an independent propane distributor in New York serving residential and commercial customers. The company is anticipated to add approximately 9,300 residential and commercial customers and 5.7 million gallons (21.5 million litres) of retail propane and distillate sales to Superior’s Energy Distribution operations in the U.S. and allows Superior to strategically grow its footprint in New York.

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Buyer Overview 1

Buyer

Superior Plus

Toronto, Ontario, Canada

Category	Company
Founded	1989
Sector	Diversified
Employees	4,261
Revenue	2.4B CAD (2024)

DESCRIPTION

Superior Plus is a diversified company that engages in energy distribution and specialty chemicals business. The company operates two separate businesses: energy distribution and specialty chemicals. All of the businesses are operated on the principles of entrepreneurship, continuous improvement, executing on objectives, safety, and teamwork. Superior Plus was founded in 1989 and is headquartered in Toronto, Ontario.

Deal Context for Buyer	#
Overall	15 of 32
Sector: Distribution	9 of 21
Type: Add-on Acquisition	11 of 27
State: New York	4 of 5
Country: United States	11 of 25
Year: 2018	3 of 4

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2018-09-14	United Liquid Gas Co. Reno, Nevada, United States United Liquid Gas Co. is an independent wholesale propane and butane distributor with operations in California. UPE operates four rail terminals with approximately 9.8 million litres of natural gas liquid storage capacity; serving over 115 wholesale customers, which include retail propane distribution companies, primarily in the California market.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2018-09-14

United Liquid Gas Co.

Reno, Nevada, United States

United Liquid Gas Co. is an independent wholesale propane and butane distributor with operations in California. UPE operates four rail terminals with approximately 9.8 million litres of natural gas liquid storage capacity; serving over 115 wholesale customers, which include retail propane distribution companies, primarily in the California market.

Buy

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2018-10-18	Musco Fuel & Propane Wolcott, Connecticut, United States Musco Fuel & Propane LLP is an independent propane distributor in Connecticut serving residential and commercial customers. Musco is an established independent propane marketer which has operated in the state of Connecticut for more than 25 years. The Acquisition is anticipated to add approximately 4,200 residential and commercial customers and 2.5 million gallons	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2018-10-18

Musco Fuel & Propane

Wolcott, Connecticut, United States

Musco Fuel & Propane LLP is an independent propane distributor in Connecticut serving residential and commercial customers. Musco is an established independent propane marketer which has operated in the state of Connecticut for more than 25 years. The Acquisition is anticipated to add approximately 4,200 residential and commercial customers and 2.5 million gallons

Buy

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