avfuel corporation acquires assets of cbl trading, llc
October 22, 2019
Avfuel Corporation announced its acquisition of assets of CBL Trading, LLC—a fuel supply subsidiary of Charter Brokerage, LLC—out of Katy, Texas.
The acquisition enhances Avfuel’s existing supply and logistics infrastructure along the Explorer Pipeline from the Gulf Coast to Chicago as well as the Westshore Pipeline from East Chicago, Indiana, to Des Plaines, Illinois, and Chicago O’Hare International Airport (KORD).
Additionally, Avfuel will take over CBL’s storage agreements at three terminals: Magellan in Dallas, Texas; CITGO in East Chicago; and Shell in Des Plaines. This enables Avfuel to ship additional product via pipeline and expand its storage-base capacity for broader coverage and fuel availability.
“Avfuel’s excited to enhance its trading capacity, build on its supply network and improve its logistical efficiencies with this transaction,” said C.R. Sincock, Avfuel’s executive vice president. “With more than 45 years in the business, we’ve become core competent in the delivery of fuel via pipeline, barge, rail and truck. The CBL Trading acquisition gives Avfuel access to additional touchpoints in the fuel’s journey from refinery to wingtip, offering greater control in the fuel supply process.”
As part of the acquisition, the Avfuel team will grow with the addition of CBL Trading scheduler, Christine Owen. Owen will continue to work out of Katy, Texas, ensuring current customers experience no interruption of service or support. The Avfuel team also hired Muneeb Ahmed to oversee the company’s expanding trading and hedging capacities.
“This transaction enables Charter Brokerage to not only further enable the continued growth of an aviation fuel supply leader, and valued customer but, to engage CBL’s leadership into another fast-growing division within the Charter family,” said Matthew Dennis, CBL’s Executive President. “CBL quickly grew a successful jet fuel supply / logistic business model with its focus on helping customers be more successful. The opportunity to have an outstanding team and support to build the CBL brand and business…and then see it compatibly integrate into and enhance Avfuel’s capacities is professionally gratifying.”
Following the acquisition, Charter Brokerage looks forward to focusing its resources on other initiatives within its family of companies.