Meritum Energy Holdings acquires Pico Petroleum (Scandinavian Oil-Gas Magazine)

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Meritum Energy Holdings acquires Pico Petroleum

Published Sep 1, 2015

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Meritum Energy Holdings, LP has completed the acquisition of Pico Petroleum, a propane and fuel distribution business in south Texas.

In addition to the announcement of the acquisition, Meritum announces completion of the equity raise and closing of the limited partnership that was created to acquire, own and operate propane, NGL and fuel distribution related assets and operations throughout the southern United States.

Meritum has also closed on a credit facility led by Bank SNB’s San Antonio commercial team, which includes The Bank of San Antonio as a participant bank. The credit facility is structured to allow for the initial Pico Petroleum acquisition and also provides for significant additional capacity for future growth.

Tags: LP, Meritum Energy Holdings

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