July 7, 2016
Cascadia Capital, an investment bank serving middle market clients globally, confirmed today that it acted as the exclusive financial advisor to Associated Petroleum Products, Inc. (“APP”), a Tacoma-based bulk distributor of high-quality petroleum products and related services, on its acquisition by World Fuel Services, Inc. (“World Fuel Services”).
World Fuel Services (NYSE: INT) is a global fuel logistics, transaction management and payment processing company that delivers fuel and services to the aviation, marine and land transportation industries. Based in Miami, World Fuel Services serves clients in more than 8,000 locations across 200 countries and territories worldwide.
Founded in 1972, APP has become a leading full-service provider of fuels, propane and lubricants, serving many markets across the United States and operating multiple locations in Western Washington and Portland, Oregon. The acquisition of APP allows World Fuel Services to strategically expand its geographic footprint to better access the West Coast and build upon its platform up and down the I-5 corridor.
“The combination of APP and World Fuel Services will bring significant value to both companies and enable them to expand their geographic reach and capabilities nationally,” said Michael Butler, CEO of Cascadia Capital. “We are pleased to have helped APP complete this transaction during a challenging period for the oil and gas industry and expect to see further consolidation throughout the Pacific Northwest.”
“Cascadia has a long history of representing leading Northwest businesses across the industry sectors we serve,” adds Jamie Boyd, Managing Director of Cascadia Capital. “There is a growing interest in this region from financial investors and strategic acquirors alike, evidenced by another global player like World Fuel Services seeking a presence in the Northwest and acquiring a market leader in this geography.”
For more information about this transaction, please feel free to contact one of the following:
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