First Sun Oil distributor in New Jersey sells to a family-owned and operated fuel retailer.
Gill Energy, headquartered in Matawan, N.J., has acquired Mohawk Oil Co.
The sale included a collection of fee and leased retail gas assets with convenience stores, service bays and snack shops, wholesale supply only accounts, and assignment of the Branded Sunoco Distributor agreement. Specific terms of sale were not disclosed.
Chester, N.J.-based Mohawk Oil is an 87-year-old company that has been owned and managed for the past 20 years by the grandson of the founder. Mohawk was the first Sun Oil (predecessor company to Sunoco) distributor in the State of New Jersey, and remained one of Sun Oil’s only New Jersey-based distributors for its entire history.
The owner is exiting the fuels business.
Petroleum Equity Group, Ltd. of Chappaqua, N.Y. served as exclusive advisor to Mohawk Oil. “We are extremely pleased with the range of services and depth of industry expertise provided by Ken Shriber of Petroleum Equity Group in helping us manage this transaction,” said a spokesperson related to the deal.
In business for 25 years, Gill Energy is a family-owned and operated fuel retailer and wholesale jobber. The company currently distributes approximately 250 million gallons a year across its network of company operated retail locations, dealer sites, and wholesale accounts in New Jersey, New York and Pennsylvania. Its portfolio of brands includes BP, Sunoco, Exxon, Mobil and 76.
“We are very excited to add the assets of Mohawk Oil to our growing company, and we expect a seamless transition as the businesses of Mohawk were exceptionally well-managed for three generations,” remarked Bikram Gill, CEO of Gill Energy.