JP Energy Partners Completes Acquisition of Conway Oil Company
Clovis, New Mexico Propane Provider Gets New Owners Committed to Helping It Stay Local
July 19, 2011
IRVING, TX, July 19, 2011 – JP Energy Partners announced today the partnership has completed the acquisition of Conway Oil Company of Clovis, New Mexico. This is JP Energy Partners’ sixth acquisition in the propane industry within the past year, further strengthening the organization’s presence throughout New Mexico, and adding to its’ existing footprint in Southeast New Mexico and West Texas.
Conway Oil Company is headquartered in Clovis, New Mexico, with operations in Tucumcari, Fort Sumner and Santa Rosa. Conway distributes propane, gasoline and diesel to its customers throughout eastern New Mexico and west Texas. As part of the acquisition, JP Energy Partners will retain the existing Conway Oil Company management team and employees to continue managing the daily operations of the business.
“It has been my pleasure to operate this business for more than 24 years and I appreciate all of the great people that have helped to grow Conway Oil Company,” said Jim Conway, founder and owner of Conway Oil Company. “This acquisition presents a tremendous opportunity for our employees and customers and the management team at JP Energy Partners has proven through their care and commitment throughout this transaction that they operate with the upmost honesty and integrity.”
Since July of 2010, JP Energy Partners has acquired or opened retail propane operations in Central, South and West Texas, New Mexico and Oklahoma. JP Energy Partners looks to continue expanding its’ regional footprint and developing innovative ideas for the propane industry.
“This acquisition reinforces our commitment to the New Mexico propane market and our continued plans for growth in the state,” said Robert Chalmers, SVP Corporate Development for JP Energy Partners.
About JP Energy Partners
JP Energy Partners was formed in 2010 to focus on opportunities to acquire and consolidate propane related businesses in the United States. JPE’s principal business largely consists of the retail, marketing, sale and distribution of propane to residential, commercial and industrial customers. JPE currently owns retail propane operations under the name Pinnacle Propane in New Mexico, Oklahoma and Texas, as well as 18 community propane systems under the name Alliant Gas LLC throughout central Texas. The ownership and management team of JP Energy Partners brings extensive experience and a history of success in the energy business. More information about JPE and its subsidiaries can be found at www.jpenergypartners.com.
Posted: July 18, 2011