Published: January 5, 2023 |

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Offen Petroleum has completed the acquisition of the wholesale division of Gas Depot and Gas Depot Oil Company, both headquartered in Chicago, Illinois. The acquisition is Offen’s first into Chicagoland and the Great Lakes region.

Gas Depot was founded by George Nediyakalayil in 1999 and is a full-service wholesale distributor of motor fuels throughout the Midwest, including Illinois, Wisconsin, Indiana, and Missouri. Gas Depot sells motor fuels under the Shell, Marathon, Citgo, BP, Exxon/Mobil, Gulf, Clark, and its proprietary Gas Depot brands as well as being a supplier of unbranded motor fuels. Gas Depot has developed a reputation of operational excellence and has been a trusted supplier in Chicagoland and surrounding Midwest markets. Gas Depot operates its own chain of gas stations and after the transaction, Gas Depot will continue to operate these stores.

“I am very pleased that we have been able to impact the fuel industry over the past 23 years and now our team has chosen to redirect our efforts towards growing our other companies and businesses. Gas Depot has grown not just as a business, but an extended family that has created lifelong opportunities and relationships,” said George Nediyakalayil founder and CEO of Gas Depot.

“While it is not easy to transition off this business, I know that Offen will be an excellent operator to continue the growth that we started. Offen has created a reputation of providing the highest level of customer care and they have a wide breadth of resources that will benefit our customers. I am confident that Gas Depot’s customers will continue to flourish through Offen,” added Nediyakalayil.

This acquisition will add more than 150 new retail gas station/convenience store customers along with a portfolio of municipal customers. The addition of these customers will provide Offen a new footprint in Chicagoland and surrounding markets. In addition, Offen is establishing an operations center in Chicago and will be hiring the talented operations personnel of Gas Depot. This acquisition builds upon Offen’s status as one of the leading fuel distributors in the United States and grows Offen’s commitment to supporting the branded motor fuel dealer and municipal businesses.

“George Nediyakalayil and his team of dedicated employees have created a very successful business operating in a highly competitive marketplace and I am very honored that the Nediyakalayil family has entrusted Offen to continue providing superior service to their customers,” said Bill Gallagher, Offen’s CEO.

“This is a unique opportunity for us to acquire a high-quality portfolio of customers in one of America’s largest markets,” added Gallagher.

About Offen Petroleum
Headquartered in Commerce City, Colorado, Offen is a leading distributor of motor fuels, propane, and lubricants that dedicates itself to serving its customers with the highest level of service. In addition to organic growth, Offen is an active acquirer of companies in this consolidating marketplace. Offen distributes more than 2.4 billion gallons of motor fuel annually and will serve customers throughout the United States. In addition to branded and unbranded motor fuels, Offen sells propane, and lubricant products and solutions for the commercial, industrial, and passenger car segments, as well as diesel exhaust fluids used in emission controls. Offen is a portfolio company of Court Square Capital Partners, a New York based private equity firm with $7 billion of assets under management.

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