Superior Plus Acquires Propane Distribution Assets of Musco Fuel and Propane.
M2 EQUITYBITES-October 19, 2018-Superior Plus Acquires Propane Distribution Assets of Musco Fuel and Propane
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19 October 2018 - Canadian energy distribution and specialty chemicals company Superior Plus Corp. (TSX: SPB) has entered into an agreement to acquire substantially all of the propane distribution assets of Connecticut, US-based propane distributor Musco Fuel and Propane LLP, the company said.
Musco serves residential and commercial customers.
The acquisition is anticipated to close during 1Q18, subject to the satisfaction of certain customary commercial conditions.
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 2.5m gallons (9.5m litres) of retail propane and distillate sales to Superior's Energy Distribution operations in the US and allows Superior to strategically grow its footprint in Connecticut.
Superior consists of two primary operating businesses: energy distribution includes the distribution of propane and distillates, and supply portfolio management; and specialty chemicals includes the manufacture and sale of specialty chemicals.
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Publication: | M2 EquityBites (EQB) |
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Geographic Code: | 1U1CT |
Date: | Oct 19, 2018 |
Words: | 193 |
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