Infinity Capital Partners Advises United Petroleum Transports on the Sale of Crude Oil Transportation Division
OKLAHOMA CITY, OK (January 7, 2019) Oklahoma City-based United Petroleum Transports (UPT) announces it has sold substantially all of the assets of its crude oil transportation division to DKS Transport, LLC (DKS). Infinity Capital Partners served as exclusive investment banking advisor to United Petroleum Transports. Details of the transaction were not disclosed.
United Petroleum Transports, a third-generation family business, was founded in Oklahoma in 1966 by Keith Price providing bulk refined petroleum transport services to large oil companies, convenience store operators, airports, and others. In 2012 UPT opened a crude oil transportation division to serve crude marketers in the Marcellus Shale basin in northern Pennsylvania. In recent years the crude oil transportation business shifted closer to home, serving customers throughout Oklahoma’s most prolific oil and gas basins.
UPT’s current CEO, Greg Price, said of the transaction, “This divestiture really allows us to re-align our resources to continue growing our core business of refined petroleum transportation. We are proud to work with the Sherrells and believe they are well-positioned to take these assets and continue providing the excellent service UPT is known for.”
DKS Transport, based in Alva, OK, is owned by husband and wife duo Ashley and Damon Sherrell. Founded in 2008, DKS operates a fleet of approximately 60 units throughout Oklahoma and Texas. “Purchasing UPT’s crude oil transport division really sets us up to be the premier crude hauler in central and western Oklahoma and will greatly help support our Texas operations,” said Damon Sherrell, CEO of DKS Transport. “UPT’s dedication to safety and service make this a great organizational fit with our existing fleet of drivers, and we continue to be excited about the future of our business.”
Through this acquisition DKS is seeking to further expand its presence in western Oklahoma in order to keep pace with the increase in crude oil activity in Oklahoma’s SCOOP & STACK regions.
“Some transactions can be dubbed ‘zero-sum’ with one side emerging as the clear winner in a deal,” said Bryan Vahlberg, Managing Partner for Infinity Capital Partners and project lead. “This deal, however, represents a clear win-win for both parties. UPT can now further focus their efforts on their core business of refined petroleum transportation, and DKS gains quality assets to better meet the increasing demands for crude takeaway throughout western Oklahoma. We were proud to be a part of advising on a transaction for two well-respected Oklahoma-based businesses.”
About United Petroleum Transports
Founded in Oklahoma in 1966, UPT provides bulk transport services to large oil companies, convenience store operators, petroleum marketers, airports and many others. Refined petroleum products represent the largest portion of the business, UPT also hauls complementary products such as asphalt, lube oils, and petrochemicals. Areas of operations include OK, KS, TX, AZ, NM, and LA. For more information, visit www.drive4upt.com.
About DKS Transport
Founded by Damon Sherrell in Alva, OK in 2008, DKS is a diversified energy logistics company specializing in crude purchasing, marketing, and transportation. Prior to the acquisition, DKS operated a fleet of approximately 60 units across OK and TX.
About Infinity Capital Partners
Infinity offers a full-suite of investment banking services for small and middle-market businesses. Headquartered in Oklahoma City, OK, the company has established a reputation working with closely held businesses with the utmost integrity, discretion and professionalism. For more information about Infinity Capital Partners, including a list of current projects, please visit our website at www.infinitycappartners.com.