Orrick advised Superior Plus, a leading North American distributor and marketer of propane and distillates and related products and services, on the $144 million acquisition of the retail propane and refined fuels distribution assets of Quarles Petroleum, Inc. The assets included in the acquired business service residential and commercial customers primarily in Virginia. Additional information is available in Superior Plus’s announcement. The acquisition follows Superior Plus’s recently closed $240 million acquisition of Kamps Propane and Kiva Energy, on which Orrick also advised.
Orrick advised on all aspects of the transaction, which included significant real estate and environmental components given the acquisition of 20+ owned sites and multiple leased sites within the portfolio. The cross-practice team was led by King Milling, Joe Roger, and Adam Kowis on M&A, Nicole Walsh on real estate, and Robert Lawrence and Sue Cowell on environmental, and also included Jennifer Clarke-Smith, Robert O’Connell Jr., Spencer Sinclair, Alessandra Grace, Zachary D.T. Huey, Karen Cannon, Ryan McKenney, Cacique Rich-Martinez and Maria Sanchez, among others.