Sprague Energy, an energy wholesaler in the northeastern US, has completed its previously announced acquisition of 50% of Group Delangis.
Group Delangis of St-Paul-de-Joliette, Quebec, Canada, is a third-generation family business controlled by Jean Delangis, and its subsidiary, Kildair Service.
Kildair is one of the premier asphalt and heavy fuel marketers in Quebec. Kildair is a leading player in the residual fuel and asphalt markets, with 1.7 million barrels of storage in the greater Montreal area. The partnership with Kildair augments the capabilities of Sprague, which has marketed industrial fuels for more than 130 years, and has become the largest provider of asphalt storage services in the northeastern US.
John McClellan, Sprague’s president and CEO, said: We are very excited about our new partnership with Group Delangis. Jean Delangis has created a vibrant marketing business in residual fuel and asphalt, leveraging a first class terminal with state-of-the-art blending capabilities for both residual fuels and asphalt products.
Jean’s outstanding reputation in the Quebec and Ontario markets has carried Kildair to a position where they are the preferred supplier to some of the most attractive – and demanding – customers in Eastern Canada. Through this investment, Sprague can continue its growth into a new market with a partner with proven capabilities, unique assets and a sound strategy.