NEWS & UPDATES
Chicago, IL/Denver, CO/Greeley, CO (July 2008) Houlihan Smith & Co., Inc. acted as the exclusive advisor for Hill Enterprises, Inc., dba Hill Petroleum, in the acquisition of Cox Oil Company based in Greeley, Colorado, as announced by Charles Botchway, Group Managing Director and Vice Chairman of Houlihan Smith & Co., Inc. The transaction was led by Houlihan Smith Managing Director Reginald McGaugh. Terms of the deal were not disclosed.
Founded in 1982, Hill Petroleum is a large-scale bulk oil, lubricant, and fuel distributor serving customers in Colorado and five adjacent states. The company provides a wide variety of gasoline, diesel, and lubrication products and services to clients in multiple industries, including energy, brewing, mining operations, food processing, construction, and transportation. Hill Petroleum, the leading fuel distributor in the state of Colorado, has long-term distribution agreements for premium brands including Chevron, Sunoco, and Sinclair.
Cox Oil Company – based in Greeley with operations in Fort Morgan and Wiggins, Colorado – distributes and markets bulk oil, lubricants and gasoline. "The acquisition allows Hill Petroleum to establish strategic refueling distribution points for its commercial clients in Northeastern Colorado," McGaugh said. "The acquisition will also provide Hill Petroleum with a tremendous increase in contribution margin and significantly enhances the EBITDA of the company."
"We are extremely pleased with the professionalism and support provided by Mr. McGaugh and the entire Houlihan Smith & Co., Inc. team in allowing us to complete this strategic acquisition in a relatively short period of time, and we look forward to working with Houlihan Smith again," said Troy Hill, Vice President and General Manager of Hill Petroleum.
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