Mansfield Oil Acquires C&N Companies
Published July 2nd, 2009
$5.1 billion Mansfield Oil Company announces the acquisition of C&N Companies, a leading ethanol marketer that represents 500 million gallons of ethanol production and 150 million gallons of biodiesel production capacity. This acquisition allows Mansfield Oil, which moved 2 billion gallons of motor fuel last year including a 450% increase in renewable fuel sales, to provide ethanol producers with an independent and financially strong marketing partner. Mansfield Oil operates from 650 bulk terminals and 900 supply points in 49 states and will begin marketing C&N products to refiners and blenders immediately.
“Our acquisition of C&N is a win for producers who need a thriving independent marketing partner with the financial strength to compete in today’s economy,” says J. Alexander, President of Mansfield Oil. “For ethanol plants, C&N dramatically deepens its relationship with refiners thanks to our established connections with all the oil majors.”
“Having someone with Mansfield’s expertise in downstream logistics and nationwide marketing capability is an attractive new development for the ethanol industry, and for its producers in particular. Mansfield can help bridge the gap between ethanol production and downstream consumption,” said Marlon Harrison General Manager Commercial Fuels, Motiva Enterprises LLC. “We’ve enjoyed a great relationship with Mansfield for decades and look forward to expanding our relationship.”
Doug Haugh, Executive Vice President and CIO at Mansfield Oil, is leading the transition team for Mansfield Oil. “I’m proud that the C&N executive team remains in place,” says Haugh. “This is a meeting of minds with substantial upside for both parties.”
Jon Bjornstad, who founded C&N in 2000, was advised through the acquisition process by Bill Fecht of WJF Services and Terry Monroe of American Business Brokers. He continues in the role of President. “I welcome this development with open arms and see it as delivering on my promise to create the best marketing possible for producers.” He cites that Mansfield’s deep roots with major refiners will give C&N customers a unique advantage in the market.
Mansfield Oil has the distribution capability that, coupled with C&N’s expertise in ethanol marketing, provides ethanol producers with more efficient access to refiners and blenders. Mansfield Oil and C&N are looking for more ethanol producers to join them in the next quarter as they aggressively expand C&N’s ethanol marketing opportunities with oil majors.
About Mansfield
Ranked #66 by Forbes, Mansfield Oil defines the next generation of downstream oil company, delivering a disciplined approach to fuel services across 49 states from over 900 supply points. Founded in 1957, the company has enjoyed double-digit growth for three decades. Mansfield Oil focuses on optimizing and controlling fuel-related costs with local service nationwide. The company annually delivers 2 billion gallons of fuel to corporations, fleets, retailers, convenience stores, and government agencies that demand the best value from a reliable fuel supplier and a strong return on investment from fuel systems. Mansfield Oil has headquarters in Gainesville, Georgia, with offices in Denver, Detroit, and Chicago.
