Diversified energy services platform providing commercial and residential fuels and value-added energy field services
Delancey Street Partners is pleased to announce that we served as financial advisor to Coen Oil Company, LLC on its sale of membership interests of Coen Energy, LLC and Coen Transport, LLC as well as assets consisting of four bulk plants and underlying real estate (collectively, “Coen Energy”) to Sprague Operating Resources LLC, a subsidiary of Sprague Resources LP (“Sprague”). Delancey Street managed a competitive sell-side M&A process and, together with the legal team, assisted in negotiating the terms of the transaction.
Coen Oil Company, LLC
Divestiture of certain assets to Sprague Resources LP (NYSE: SRLP)
Sector: Infrastructure
Delancey Street Partners served as the exclusive financial advisor to Coen Oil Company, LLC
Delancey Street Partners is pleased to announce that we served as financial advisor to Coen Oil Company, LLC on its sale of membership interests of Coen Energy, LLC and Coen Transport, LLC as well as assets consisting of four bulk plants and underlying real estate (collectively, “Coen Energy”) to Sprague Operating Resources LLC, a subsidiary of Sprague Resources LP (“Sprague”). Delancey Street managed a competitive sell-side M&A process and, together with the legal team, assisted in negotiating the terms of the transaction.
Coen Oil Company, LLC
Divestiture of certain assets to Sprague Resources LP (NYSE: SRLP)
Sector: Infrastructure
Delancey Street Partners served as the exclusive financial advisor to Coen Oil Company, LLC
Coen Energy (www.coenenergy.com), located in Washington, PA, provides energy products and complementary energy field services to over 7,000 Energy Field Services, Commercial, and Residential customers located in Pennsylvania, Ohio and West Virginia. The Energy Field Services segment provides fuel sales, delivery, management and related services supporting the Marcellus and the Utica shale drilling activity. The Coen Energy business is supported by four in-land bulk plants, two throughput locations, approximately 100 delivery vehicles and nearly 250 employees.
Founded in 1923, Coen Oil Company (www.coenoil.com) is the parent company of Coen Energy, Coen Transport as well as Coen Markets, a leading convenience store chain in the PA, OH, WV tri-state area, and Coen Tire, a leading tire retailer in that same region.
Sprague Resources LP (www.spragueenergy.com) is engaged in the purchase, storage, distribution and sale of refined petroleum products and natural gas. The company also provides storage and handling services for a broad range of materials.
Delancey Street Partners is an independent, industry-focused investment bank. We serve CEOs, Entrepreneurs, Shareholders and Boards of Directors of high growth and middle market private and public companies. Our services include strategic advisory, capital raising and independent board advice. We advise on sell-side and buy-side M&A, growth capital financings, and recapitalizations. Our focus sectors include Healthcare, Business & Technology Services, Industrial & Industrial Technology, and Infrastructure. We form long-term partnerships with our clients and commit to managing each engagement with senior professionals who bring years of experience and insight.
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