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Superior has acquired five propane businesses in the past six months.
Superior Plus Corp. delivered on a two-year-old promise to focus the company on propane distribution on Thursday by selling its chemical business for $725-million to private equity fund manager Birch Hill Equity Partners.
Toronto-based Superior put its chemical division up for sale the spring of 2019 as part of a strategic decision to focus on the propane industry. The company acquired the business, which sells industrial chemicals used in pulp and paper and water treatment, in 2002 for $375-million. At the time of the purchase, Superior faced challenges from Canada’s competition regulator over plans to expand its domestic propane business. The
Business Development and Acquisition Update
On October 15, 2020, Superior acquired all of the equity interests of a Southern California propane distribution company, operating under the tradename, Central Coast Propane (“Central Coast”), for total consideration of approximately US$12.9 million (CDN $17.1 million). The purchase price was paid primarily with cash from Superior’s credit facility. Central Coast is a retail distributor delivering approximately 5.0 million litres of propane to approximately 2,800 residential and commercial customers in Southern California.
On October 27, 2020, Superior acquired the assets of a retail propane distribution company, operating under the tradename, Petro SE Propane (“Southern Propane and Mountain Gas”), for total consideration of approximately US$6.1 million (CDN $8.0 million). The purchase price was paid primarily with cash from Superior’s credit facility. Petro is a retail distributor delivering propane in North Carolina, South
Superior Plus Corp Announces Annual and Fourth Quarter 2020 Results and 2021 Adjusted EBITDA Guidance as a Pure-play Energy Distribution Company benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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Superior Plus Advances Growth Strategy With Acquisition of Holden
January 26, 2021 GMT
TORONTO (BUSINESS WIRE) Jan 26, 2021
Superior Plus Corp. (“Superior”) (TSX:SPB) is pleased to announce that one of its wholly-owned subsidiaries has acquired all of the assets of a retail propane and distillate distribution company, operating under the tradename Holden Oil (“Holden”).
Founded in 1924, and located in Peabody, Massachusetts, Holden is an established independent retail energy distributor serving approximately 8,750 residential and commercial customers in the U.S. Northeast.
“The acquisition of Holden is Superior’s first acquisition in 2021 and expands our presence in an attractive region in Massachusetts. Holden has a good base of residential and commercial customers, and we anticipate this acquisition will provide excellent synergy opportunities with our existing operation
L Itinéraire remercie Éric Trottier ! lapresse.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lapresse.ca Daily Mail and Mail on Sunday newspapers.