Pilot Flying J will acquire a controlling interest in Maxum Petroleum for cash and Pilot Flying J's contribution of Western Petroleum into Maxum. Current investors, including Maxum management, Metalmark Capital and Waud Capital Partners will re-invest in the new venture.
Maxum is one of the largest independent energy logistics companies in North America, selling and distributing more than 1.3 billion gallons of refined petroleum products and serving more than 15,000 customers. Maxum's services include an offering of fuel and lubricants as well as a wide array of value-added logistics and energy management services
"The acquisition of Maxum offers us an excellent growth opportunity and we are very excited to increase our participation in this industry," says Pilot Flying J President and CEO Jimmy Haslam.
Closing of this venture is subject to customary closing conditions.