He also cited contract integrity as a core internal value at the company. “It’s very important that if we say something, we do it,” Brickowski said. “If we make supply mistakes, we have to pay for our mistakes and we expect the same from the customer. That relationship, knowing how we’re doing business and how they’re conducting business, is very important.”
Endbar: ArcLight Capital Partners, LLC
Founded in 2001, ArcLight is one of the leading private equity firms focused on North American and Western European energy assets. Since its establishment in 2001, ArcLight has invested over $13.9 billion across multiple energy cycles in more than 90 investments. Headquartered in Boston, with an additional office in Luxembourg, the firm’s investment team brings extensive energy expertise, industry relationships, and specialized value creation capabilities to its portfolio.
The company focuses on the following areas:
- Midstream: pipelines, storage and terminals, gathering and processing, transportation, and offshore
- Power: conventional power (natural gas, coal, oil), renewable power (wind, hydro, solar, biomass), and electric transmission and distribution
- Production: onshore oil, natural gas and natural gas liquids
The company was founded by Daniel R. Revers and Robb E. Turner
From the ArcLight perspective, Revers had the following to say about the Gulf acquisition: “Gulf is well-established among consumers as a top tier brand and in recent years has experienced significant growth of marketed volumes. The ownership of a major petroleum wholesaler and terminal operator represents a significant opportunity in today’s energy industry and is a key component of our investment strategy.”
Although the new era at Gulf is in its infancy (and the disclaimer always states “actual results may vary”), the old hands at Gulf who were interviewed for this article feel the future looks bright after the acquisition.
“I think people are excited to get going and expanding the Gulf flag and distinguishing ourselves as a new company,” said Walter Brickowski, Gulf’s Senior Vice President, Unbranded Marketing. “I think as long as we bring value to the customer, our expansion possibilities and certainty of success will be very good. Most of the income for Cumberland Farms/Gulf went, and I believe rightfully so under Cumberland ownership, for raising rebuilds for the Cumberland Farms stores, for new trucks, new equipment. For me being in an unbranded world, I always like to have terminals. You can control your destiny a little bit more as opposed to going to a public terminal or having to exchange at some major oil company’s terminal.”
“To me, the most exciting part about it is that the range of options has really increased tremendously,” said Ron Sabia, former Gulf President and the company’s current Chief Strategy Officer. “There’s probably never been more opportunity in the twenty plus years I’ve been in this space. We see lots of opportunities for our company to pursue.”
“But I think to me the most important thing is to acknowledge the tremendous group of professionals that we have working for us at Gulf, and now the ability to work with a company like PPT [ArcLight’s other recent terminal venture], who in its own right has built a great company based on service as well. Our employees have grown both companies to this point, and they’re going to be the key to our success going forward, so I want to make sure we acknowledge and thank them for all they’ve done.”
