About Us
History
Since Delek’s inception in 2001, our strategic vision has been to merge the acquisition savvy of a private equity firm with the management and operational expertise of seasoned energy industry veterans.
The result is a company that has become one of the more active acquirers of downstream energy assets. Our success, however, has not been solely the result of an opportunistic acquisition strategy. Our growth has hinged greatly on the ability of management to consistently enhance the efficiency and profitability of purchased assets. The good news for our shareholders is that we’re just getting started.
Since 2001, we have completed multiple acquisitions in the refining, marketing/logistics, and convenience store industries. The merging of assets from across the downstream energy supply chain has positioned us to benefit from a diversified revenue base. By leveraging the synergies, scalability, and operational efficiencies that overlap throughout our asset portfolio, we can create opportunities through the business cycle.
Today, we are a diversified downstream energy company with assets in petroleum refining, logistics, asphalt, renewable fuels, and convenience store retailing. Key events in our history are summarized below:
Date | Aquired/Divested Company Assets | Acquired from/ Divested to | Approximate Price |
---|---|---|---|
May 2001 | MAPCO Express, Inc., with 198 retail fuel and convenience stores | Williams Express, Inc. | $162.5 million |
June 2001 | 36 retail fuel and convenience stores in Virginia | East Coast Oil Corporation | $40.1 million |
February 2003 | Seven retail fuel and convenience stores | Pilot Travel Centers | $11.9 million |
April 2004 | Williamson Oil Co., Inc., with 89 retail fuel and convenience stores in Alabama, and a wholesale fuel and merchandise operation | Williamson Oil Co., Inc. | $19.8 million, plus assumed debt of $28.6 million |
April 2005 | Refinery, pipeline and other refining, product terminal and crude oil pipeline assets located in and around Tyler, Texas, including physical inventories of crude oil, intermediates, and light products | La Gloria Oil and Gas Company | $68.1 million, including $25.9 million of prepaid crude inventory and $38.4 million of assumed crude vendor liabilities |
December 2005 | 21 retail fuel and convenience stores, a network of four dealer-operated stores, four undeveloped lots, and inventory in the Nashville, Tennessee area | BP Products North America, Inc. | $35.5 million |
July 2006 | 43 retail fuel and convenience stores located in Georgia and Tennessee | Fast Petroleum, Inc. and affiliates | $50.0 million, including $0.1 million of cash acquired |
August 2006 | Refined petroleum product terminals, seven pipelines, storage tanks, idle oil refinery equipment, and rights under supply contracts | Pride Companies, LP. and affiliates | $55.1 million |
April 2007 | 107 retail fuel and convenience stores located in northern Georgia and southeastern Tennessee | Calfee Company of Dalton, Inc. and affiliates | $71.8 million, including $0.1 million of cash acquired |
April 2011 - October 2011 | Lion Oil Company, with a refinery, pipeline and other refining, product terminal, and crude oil pipeline assets in and around El Dorado, Arkansas, and product terminals in Memphis and Nashville, Tennessee | Ergon, Inc. and other stockholders | $228.7 million |
December 2011 | Pa line Pipeline Company, LLC, with a 185-mile pipeline system | Ergon Terminaling, Inc. | $50.0 million |
January 2012 | The Nettleton Pipeline, a 35-mile long, eight and ten inch pipeline system | Plains Marketing, LP. | $12.3 million |
February 2012 | The Big Sandy Terminal, a light petroleum products terminal and eight and five-eighths inch diameter Hopewell - Big Sandy Pipeline originating at Hopewell Junction, Texas and terminating at the Big Sandy Station in Big Sandy, Texas | Sunoco Pipeline LP. and Sunoco Partners Marketing & Terminals, LP. | $11.0 million |
January 2013 | The Beacon Facility, involved in the production of biodiesel fuels and related activities | Beacon Energy {Texas) Corp. | $5.3 million |
July 2013 | The Hopewell Pipeline, a 13.5-mile pipeline that originates at the Tyler refinery and terminates at the Hopewell delivery yard | Enterprise TE Products Pipeline Company, LLC | $5.7 million |
October 2013 | The North Little Rock terminal, a refined product terminal in Little Rock, Arkansas | Enterprise Refined Products Pipeline Company, LLC | $7.2 million, including $2.2 million of refined product inventory |
December 2013 | The Helena Assets, a 149-mile, 10-inch pipeline that connects El Dorado, Arkansas to Helena, Arkansas and a crude oil and/or refined product terminal located on the Mississippi River in Helena, Arkansas | Enterprise Product Partners LP. | $5.0 million |
February 2014 | The Crossett Facility, a biodiesel plant in Crosset, Arkansas | Pinnacle Biofuels, Inc. | $11.1 million |
October 2014 | The Greenville-Mount Pleasant Asset, a light products terminal in Mount Pleasant, Texas, a light products storage facility in Greenville, Texas, and a 76-mile pipeline connecting the locations | An affiliate of Magellan Midstream Partners, LP. | $11.1 million, including $1.1 million of product inventory |
December 2014 | FTT, a transport company that primarily hauls crude oil and asphalt by truck, including 130 trucks and 210 trailers | Frank Thompson Transport, Inc. | $12.0 million, including $0.5 million working capital |
May 2015 | Acquired 33.7 million shares of common stock of Alon USA Energy, Inc. This represented approximately 48% of Alon USA shares outstanding in May 2015 | Alon Israel Oil Company, Ltd. | 6.0 million Delek US shares; $145.0 million promissory note; $200.0 million cash |
November 2016 | Divested the retail related assets | Sold the assets to Compania de Petr6Ieos de Chile COPEC S.A. | Sold for cash consideration of $535.0 million, plus the Retail Entities' estimated cash on hand and working capital adjustment, totaling approximately $16.3 million |
July 2017 | Acquired the remaining shares of common stock of Alon USA Energy, Inc. Operations include refining, retail, asphalt, and renewable fuel | Alon USA stockholders | All stock transaction, with each share of Alon receiving 0.5040 shares of Delek US common stock |
February 2018 | Acquired the remaining outstanding units of Alon USA Partners, LP (NYSE:ALDW). Operations included the Big Spring Refinery | Alon USA Partners, LP | All-stock transaction. Each common units in Alon Partners receiving 0.49 Delek US shares |
Oct 2019 | New Albany refinery. Biodiesel fuel. Nameplate Production: 12.5mmgy. Acquired by Delek in 2019 | JNS Biofuel, LLC | $8 million |
(1) Excludes Transaction Costs. |