Meritum Energy Holdings acquires Pico Petroleum

Meritum Energy Holdings LP acquired Pico Petroleum, a propane and fuel distribution company in south Texas.

Meritum Energy Holdings, based in San Antonio, focuses on propane, fuel distribution and NGL-related assets in the United States.

According to a press release, Pico Petroleum has a diverse customer mix throughout the area distributing propane, gas, diesel, oils and lubricants. Meritum plans to keep the Pico Petroleum brand by operating under the Pico Propane and Fuels name. As Meritum grows its operations, it says it will likely expand Pico Propane and Fuels into new markets and widen its service offerings in the propane and fuel distribution business.