Santa Barbara-based Corner Capital Advisors has announced the Aug. 1 sale of Sandford Energy LLC and Sandford Transportation LLC (“Sandford”), and their frack fueling and transportation business to Sunoco LP (NYSE: SUN).
The Decatur, Texas-based Sandford distributes diesel and gasoline to exploration and production and oil field services companies throughout nine states.
Frack customers and other commercial end-users across the Permian Basin and Eagle Ford shale production regions in Texas, Oklahoma’s Scoop & Stack, the Bakken region in Montana and North Dakota, and other major shale production regions rely on Sandford for their fueling needs.
Founded in 1988 with a single bobtail and transport, Sandford has grown to approximately 115 million gallons distributed annually by providing loyal and reliable crews to leading drillers, oil field service customers and traditional end-users.
Sandford has become the “go-to” provider of fuel and logistics services for top-tier Fortune 50 companies throughout its service geographies. With its experienced employees, large fueling fleet and the highest quality customers in the industry, Sandford provides a platform acquisition for Sunoco.
Sandford was advised on the transaction by Corner Capital Advisors LLC.
“We are grateful for the trust that Blake (Sandford), Carole and his family placed in Corner Capital, and we are excited for the Sandford team in their integration with Sunoco,” said Carl Ray Polk Jr., a Corner Capital principal.
“Sunoco has acquired a terrific operation with quality staff, and an entrenched reputation for excellence in fueling logistics and customer service.”
Since 2006, Corner Capital has been providing specialty advisory services for all refined products and to all constituencies in the downstream energy industry, including convenience store chains, fuel wholesalers and distributors, lubricant retailers and distributors, propane and heating oil distributors, and storage and transportation companies, institutional investors and lenders.
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