• Mexico's Energex Acquires Texas-Based Marshall Distributing

  • Mexico's Energex Acquires Texas-Based Marshall Distributing

    Mexican distributor Grupo Energéticos (Energex) reached a deal this week to
    enter U.S. markets with an agreement to acquire a Texas-based distributor
    for100 million pesos ($5.3 million), according to a report.

    The addition of Marshall Distributing marks Energex's entrance into the U.S.
    markets. The San Antonio-based gasoline and diesel distributor services the
    south central Texas area around San Antonio, Austin and San Marcos.

    Energex, based in Monterrey, supplies natural gas and Pemex refined products
    such as diesel and fuel oil. The company ranks as one of Mexico's largest
    diesel distributors with 30 storage sites throughout the country with a
    capacity of 40 million liters, per the report in the newspaper El Financiero.

    "We found a company that shares our business and family values and a very
    valuable employee group," Energex CEO Cesar Cadena Canales said in the
    report."We will retain them all to maintain the level of service and identity
    of the company, contributing to our experience to help expand the business."

    Marshall Distributing has 50 years of history in its area and supplies around 3
    million liters per year, providing a strong base, Cadena said.

    "We expect to have modest growth in the first year in which the two groups join
    in a new operation and management, and from the second year we expect a more
    aggressive growth through seeking to incorporate new clients and through other
    acquisitions," the CEO told the newspaper.

    --Justin Schneewind, jschneewind@opisnet.com

    Copyright, Oil Price Information Service

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