July 31, 2019 - 1:33 PM EDT
Print Email Article Font Down Font Up
BioUrja Trading LLC has completed its acquisition of the assets of Center Oil Company and modified its organizational structure

HOUSTON, July 31, 2019 /PRNewswire/ -- BioUrja Trading, LLC ("BioUrja") of Houston, TX has completed its acquisition of the refined products and ethanol trading and supply business and related assets of GP & W Inc (doing business as "Center Oil Company"). The acquired business continues to do business as "Center Oil," but is a now an unincorporated business unit of BioUrja.  

BioUrja Trading, LLC is an energy commodities company that supplies and trades physical ethanol, crude oil, natural gas, and electric power, and is the flagship company within the BioUrja Group. (PRNewsfoto/BioUrja Trading, LLC)

Center Oil was founded in 1986 by Gary Parker and was among the nation's leading wholesale suppliers of gasoline, diesel and ethanol. Headquartered in St. Louis, Missouri, the company was one of the largest privately held energy companies in the Mid-West, with annual revenues averaging above $3 Billion

BioUrja, on the other hand, was founded in 2006 by Amit Bhandari and is a leading energy commodity trading and supply company, focusing on ethanol, electric power, crude oil, and natural gas.  BioUrja's headquarters are in Houston, Texas, which is also the headquarters for the combined business, though the primary operations of Center Oil will remain in St. Louis.  BioUrja is among the largest privately held energy companies in the Houston area, with annual revenues pre-acquisition averaging above $3 Billion

Amit Bhandari, Chairman and CEO of BioUrja, stated that: "We are excited to have completed our acquisition of Center Oil, which is truly a milestone in the growth of BioUrja.  As a combined company, we now can reach into new geographies and new product lines, which will enhance our legacy business as well as the newly acquired business.  We are honored to have so many great new people join our organization from Center Oil."

In order to help in managing BioUrja's growth, on the heels of this transaction, BioUrja also hired Dan Gordon, formerly an Executive Vice President at Delek U.S. Holdings, Inc.  The new organizational structure will have Rob Kraeger from Center Oil as the President of the Center Oil business unit and Dan Gordon as the President of the legacy trading business of BioUrja.  Mr. Kraeger stated that: "It's great to be part of the BioUrja team and to join a company with values so similar to Center."  Mr. Gordon commented that: "I've known and transacted with both BioUrja and Center Oil for over ten years, so this is a great match for me.  I am looking forward to working with the BioUrja team to grow the business further."  BioUrja's affiliated businesses in the metals, grain, and terminal sectors will remain unchanged, as will its group-level executive management team. 

About the BioUrja Group:

BioUrja Trading, LLC is an energy commodities company that supplies and trades physical ethanol, crude oil, natural gas, and electric power, and is the flagship company within the BioUrja Group.  The BioUrja Group also supplies corrosion resistant metal tubular goods for the energy exploration sector through Hamilton Metals, LLC, with operations in the USA, China, India, Singapore and Mexico.  Additionally, through West Plains, LLC, the Group supplies and stores grains and animal feed products, as well as owns and operates approximately 25 grain elevators across the Mid-Western United States and Texas. The Group also owns and operates the BioUrja New Town Terminal, a frac sand & crude oil terminal, in the heart of the Bakken formation, as well as an ethanol terminal in Port Barre, Louisiana, and an NGL terminal under development in Port Allen, Louisiana.  See www.Biourja.com for more information. 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/biourja-trading-llc--has-completed-its-acquisition-of-the-assets-of-center-oil-company-and-modified-its-organizational-structure-300894223.html

SOURCE BioUrja Trading, LLC


Source: PR Newswire (July 31, 2019 - 1:33 PM EDT)

News by QuoteMedia
www.quotemedia.com

Legal Notice