Pilot Flying J to acquire controlling interest in Maxum Petroleum

Pilot Flying J, Metalmark Capital (“Metalmark”), Waud Capital Partners (“Waud”) and Maxum Petroleum (“Maxum”) announced that Pilot Flying J will acquire a controlling interest in Maxum for cash and Pilot Flying J’s contribution of Western Petroleum into Maxum. Current investors, including Maxum management, Metalmark and Waud, will re-invest in the new venture.
As one of the largest independent energy logistics companies in North America, Maxum sells and distributes more than 1.3 billion gallons of refined petroleum products to more than 15,000 customers. Pilot Flying J delivers more than 8 billion gallons of fuel annually to thousands of customers in 47 states in the U.S. and eight Canadian provinces. It is one of the largest wholesale fuel providers in the U.S.
Commenting on the acquisition, Pilot Flying J President and CEO Jimmy Haslam said, “The acquisition of Maxum offers us an excellent growth opportunity and we are very excited to increase our participation in this industry. Maxum’s management team and talented workforce have demonstrated commitment and leadership in executing their business plan and delivering value to their customers and suppliers. Maxum will continue to operate as an independent stand-alone business under the leadership of CEO Perot Bissell.” (July 20, 2012)