Danielson Fuel Services (DFS), a leading regional fuel supplier in Oklahoma, announced today that it has completed the sale of its retail and wholesale fuels distribution business to Boyett Petroleum (Boyett), based in Modesto, Calif. Boyett is a premier independent fuel supplier and retailer in the Western U.S. The acquisition serves as a platform acquisition for continued growth and expansion in the Mid-continent region.
DFS was founded in the 1975 by Jerry Danielson and has grown to be a leading regional leader in refined fuel distribution within a four-state region under the leadership of second generation and current owner, Mike Lawson. The company sells branded fuel under the Phillips 66 and Valero banners and unbranded fuel to its retail customers. “Our core focus with this sale was to find a strategic buyer that would carry on the same high standards and values towards our customers and employees. It has been a privilege to serve and support our loyal customers and local communities and we’d like to thank our team of employees in representing our company with honor,” said Mike Lawson, President of DFS.
“We are very excited about acquiring Danielson Fuel Services as it further expands our existing operations and provides a growth platform for new, opportunistic geographies of our wholesale business. Mike and their employees have served their customers with dedication and enthusiasm. We are eager to remain on the same path of service with passion and commitment,” said Dale Boyett, President of Boyett Petroleum. Boyett went on to say, “Bringing the DFS employees to the Boyett team was very important to our leadership team.
Downstream Energy Partners LLC (“DEP”) provided exclusive merger and acquisition advisory services to Danielson Fuel Services. DEP is a leading investment bank specializing in M&A advisory services to middle market companies within the downstream energy sector and is comprised of professionals who have decades of experience as both owner/operators and strategic financial advisors to energy companies. “Boyett Petroleum is acquiring high quality wholesale fuel supply assets in a location strategic to their expanding footprint,” said Jeff Traub, Partner of DEP, adding, “Mike Lawson and the DFS Team have built an exceptional company and it’s been a pleasure representing them in this transaction.”