M&A Deal Summary

Sprague Acquires Global Partners - Natural Gas and Electricity Business

On January 3, 2017, Sprague acquired energy services and equipment company Global Partners - Natural Gas and Electricity Business from Global Partners for 17M USD

Acquisition Highlights
  • This is Sprague’s 1st transaction in the Energy Services and Equipment sector.
  • This is Sprague’s 4th largest (disclosed) transaction.
  • This is Sprague’s 2nd transaction in the United States.
  • This is Sprague’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2017-01-03
Target Global Partners - Natural Gas and Electricity Business
Sector Energy Services and Equipment
Buyer(s) Sprague
Sellers(s) Global Partners
Deal Type Divestiture
Deal Value 17M USD

Target

Global Partners - Natural Gas and Electricity Business

Waltham, Massachusetts, United States
Global Partners LP - Natural Gas and Electricity Business serve approximately 4,000 commercial, industrial, municipal and institutional customer locations across New York, New Jersey, Massachusetts, Rhode Island, New Hampshire and Maine.

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Buyer(S) 1

Buyer

Sprague

Portsmouth, New Hampshire, United States
Category Company
Founded 1870
Sector Energy Services and Equipment
Employees765
Revenue 2.3B USD (2020)
DESCRIPTION

Sprague is a master limited partnership engaged in the purchase, storage, distribution, and sale of refined petroleum products and natural gas. Sprague also provides storage and handling services for a broad range of materials. Sprague was founded in 1870 and is based in Portsmouth, New Hampshire.

DEAL STATS #
Overall 3 of 5
Sector (Energy Services and Equipment) 1 of 3
Type (Divestiture) 2 of 4
State (Massachusetts) 1 of 1
Country (United States) 2 of 4
Year (2017) 1 of 3
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 Kildair Service

St-Paul de Joliette, Quebec, Canada

Kildair Service Ltd. is a provider of residual fuel both locally and for export, marketing of asphalt including polymer modified grades and crude-by-rail handling services.

Buy $175M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-24 L. E. Belcher - Terminal and Storage Assets

Springfield, United States

L. E. Belcher, Inc. - Terminal and Storage Assets is a provider of energy services.

Buy $20M

Seller(S) 1

SELLER

Global Partners

Waltham, Massachusetts, United States
Category Company
Founded 2005
Sector Energy Services and Equipment
Employees3,485
Revenue 16.5B USD (2023)
DESCRIPTION

Global Partners is a midstream logistics and marketing company that owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast. Global Partnersl was founded in 2005 and is based in Waltham, Massachusetts.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-08 Warren Equities

Providence, Rhode Island, United States

Warren Equities is the holding company for 3 separate entities marketing petroleum products throughout the northeast.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-30 Cheshire Oil - Convenience Stores and Gas Stations

Keene, New Hampshire, United States

Cheshire Oil Co. LLC - Convenience Stores and Gas Stations includes nine stores in New Hampshire and one in Brattleboro, Vermont. All of the locations are branded T-Bird Mini Marts and market Citgo fuel.

Buy -
Mergr

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