Offen Petroleum to purchase fuel, trucking provider

March 13, 2020 By    

Offen Petroleum, an independent fuel distributor based in Colorado, agreed to acquire the business assets of Bosselman Energy, a fuel distributor, and Bosselman Carriers, a trucking company, both based in Nebraska.

The transaction is expected to close in April 2020.

Bosselman Energy and Bosselman Carriers are currently owned by Fred Bosselman and are headquartered in Grand Island, Nebraska. The companies have an over 70-year history in the petroleum industry and currently operate in Colorado, Iowa, Kansas and Nebraska.

In recent years, Bosselman has focused its growth on marketing unbranded refined fuels and propane to end users. Like Offen, Bosselman also markets gasoline and diesel to dealer and commercial customers.

“We felt Offen was an excellent fit for our employees and customers,” says Bosselman. “They will help grow and expand the business, and this will leave me more time to focus on our tank and trailer business.”

Offen provides motor fuel, lubricants and petroleum logistics services in Colorado and 15 surrounding states. The acquisition further expands Offen’s business into the Midwest. Going forward, the Bosselman Grand Island office will be a regional operations center, and the bulk plants will remain open and operate as Offen Petroleum. Travis Hasselmann, CFO of Bosselman Energy, will join Offen’s executive leadership team as senior vice president of Midwest operations.

“This transaction affords us the opportunity to strengthen our Colorado operations while expanding into new geographies and business lines,” says Bill Gallagher, CEO of Offen Petroleum. “Nebraska, Kansas and Iowa are adjacent to our core footprint, allowing us to work with our existing suppliers in new territories.”

Propane is one of the new business lines to which Offen will gain access.

“We are eager to add propane operations and services to our product offering,” says Gallagher. “The opportunity to deliver propane directly to residential customers complements Offen’s purpose of providing energy to improve people’s lives.”

*Featured image: designer491/iStock / Getty Images Plus/Getty Images

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