Ozark Mountain Energy merges with Colorado-based Offen Petroleum

By: 
Steve Chapman

Combined companies create two-billion-gallon petroleum distributorship west of Mississippi River
 
Ozark Mountain Energy, a motor fuel distributor based in Mt. Vernon, is now part of something larger. The company officially merged with Offen Petroleum, provider of motor fuel, lubricants, and petroleum logistics services based in Commerce City, Colo., on Tuesday, Dec. 15.
Brent Wilmoth, CEO of Ozark Mountain Energy, said the merger means the company will be able to grow as a distributorship. Before the merger, he said, Ozark Mountain Energy sold 750-million gallons of fuel per year; with the merger, that number will now grow to two billion.
“The biggest reason (for the merger) was so that we could increase our purchasing power and it’s going to allow us to buy better over a period of time,” he said. “The petroleum distributor industry is probably going to consolidate over the next 10 years, by probably 75-percent. So, we felt it was an opportunity for us to align ourself with another company that (has) likeminded values like we do in the business, and it’s going to create a two-billion-gallon fuel distributorship west of the Mississippi River.”
Wilmoth added that the combined companies plan to expand their operations even further.
 “We’re on a growth trajectory of trying to reach five billion over the next … five years, and it will allow us to have a combined, merged company to be able to reach those growth goals over the next five years,” he said.
Despite the merger, very little will change locally, Wilmoth said.
“Everything is going to basically remain the same, other than … the logistics side is going to be operated under Offen Petroleum, doing business as Ozark Mountain Energy,” he said. “The actual company is going to be Offen Petroleum, but Ozark Mountain Energy is going to be the mid-continent headquarters for the new combined company. Corporate headquarters will be in Denver, Colo.”
Wilmoth said he and his sons, Kyle and Eric will continue to remain active in the company. According to a press release announcing the merger, Eric will join Offen’s leadership as executive vice-president of Ozark Operations, while Kyle will be the strategic account manager.
“Myself, Eric and Kyle … are going to remain here and continue to operate the mid-continent region of the combined companies,” Wilmoth said.
Wilmoth said he and his family are very confident that, combined, Offen Petroleum and Ozark Mountain Energy will have a long and prosperous future.
“As a family, we felt it was the best opportunity to merge the two companies together,” he said, “and I’m very confident in the new combined company. And to further demonstrate our commitment to the future in the combined companies, the Wilmoth family is retaining a significant equity stake in new, merged companies.”

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Lawrence County Record

312 S. Hickory St.
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