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M&A Deal Summary

Metroplex Energy Acquires Gulf Oil

On July 5, 2023, Metroplex Energy acquired oil/gas exploration company Gulf Oil from ArcLight Capital Partners

Acquisition Highlights
  • This is Metroplex Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Metroplex Energy’s 1st transaction in the United States.
  • This is Metroplex Energy’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2023-07-05
Target Gulf Oil
Sector Oil/Gas Exploration
Buyer(s) Metroplex Energy
Sellers(s) ArcLight Capital Partners
Deal Type Add-on Acquisition
Advisor(s) Barclays Investment Bank (Financial)
Latham & Watkins (Legal)

Target

Gulf Oil

Wellesley Hills, Massachusetts, United States
Gulf Oil is a diverse and growing refined products terminaling, storage, and logistics business and a leading distributor of motor fuels in the United States. Gulf Oil was established in 1901 and is based in Wellesley Hills, Massachusetts.

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Buyer(S) 1

Buyer

Metroplex Energy

Atlanta, Georgia, United States
Category Company
Founded 1996
Sector Distribution
DESCRIPTION

Metroplex Energy is a wholesale fuel supply and trading company that secures bulk fuel to supply rack sales and delivery of gasoline, diesel, and biofuel products by pipeline, rail, truck, barge, and vessel. Metroplex Energy was founded in 1996 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Massachusetts M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2023 M&A 1 of 1

Seller(S) 1

SELLER

ArcLight Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2001
PE ASSETS 20.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ArcLight Capital Partners is private equity firm that invests in energy assets and businesses. Specific areas of interest include power generation; oil, natural gas, coal extraction and production; midstream gathering, processing, storage and transportation of oil, natural gas, coal; energy transportation; and energy distribution companies. ArcLight's geographic coverage includes opportunities across North America, Western Europe, and Australia/New Zealand. ArcLight was formed in 2001 and has offices in Boston and Luxembourg.

DEAL STATS #
Overall 29 of 29
Sector: Oil/Gas Exploration M&A 8 of 8
Type: Add-on Acquisition M&A Deals 10 of 10
State: Massachusetts M&A 4 of 4
Country: United States M&A 27 of 27
Year: 2023 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-20 Sunrise Power Holdings

Fellows, California, United States

Sunrise Power Holdings provides 586 megawatts of critical generation and reliability services to California's Central Valley. Sunrise Power Holdings is based in Fellows, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-14 Kleen

Middletown, Connecticut, United States

Kleen Energy Systems operates a 620-megawatt natural gas-fired, combined-cycle power plant, using gas and steam turbines to generate electricity. Kleen was founded in 2008 and is based in Middletown, Connecticut.

Buy -
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