Davis Polk is advising Metalmark Capital in connection with the acquisition of a controlling interest in Maxum Petroleum, Inc. by Pilot Flying J for cash and Pilot Flying J’s contribution of Western Petroleum into Maxum Petroleum. Current investors in Maxum Petroleum, including Maxum management, Metalmark and Waud Capital Partners, will receive cash and will also re-invest in the new venture. The transaction is subject to customary closing conditions, including expiration or early termination of the waiting period under the Hart-Scott-Rodino Act.
Maxum Petroleum, based in Greenwich, Connecticut, is a leading independent energy logistics company that markets and distributes a comprehensive offering of refined petroleum products and services to commercial and industrial customers in the United States and Panama. Metalmark Capital is a leading private equity firm whose principals have a long track record of successful investing in targeted sectors, with particular focus and competence in energy and natural resources, industrials and health care. Pilot Flying J, headquartered in Knoxville, Tennessee, is one of the nation’s largest wholesale fuel providers, delivering over 8 billion gallons of fuel annually to thousands of customers in 47 states and eight Canadian provinces.
The Davis Polk corporate team includes partners William L. Taylor and Leonard Kreynin and associate Kristen L. Haase. All members of the Davis Polk team are based in the New York office.
