Love’s Travel Stops announced an agreement to purchase natural-gas fuel provider Trillium CNG from WEC Energy Group for an undisclosed sum to expand the buyer’s network of public access CNG facilities to 65 from 37.
Chicago-based Trillium, which was acquired last year by WEC Energy Group, was offered for sale after the acquisition by the Milwaukee-based energy company. Love’s based in Oklahoma City, said in its statement that the move is intended to broaden options for its customers and expand its services to current CNG users such as transit authorities, airport shuttle operations and school districts that have been using Trillium locations.
Trillium, which designs, builds and maintains CNG facilities, provides annual fuel deliveries totaling more than 55 million gallon equivalents of CNG. Love’s Travel Stops include 360 locations in 40 states.
"The acquisition of Trillium CNG provides Love’s with a great opportunity to leverage the very best of two companies," said Frank Love, co-CEO of Love’s. "Trillium’s established network of CNG locations and its deep expertise within the industry will also allow Love’s to serve new types of customers in new markets while expanding reach to existing customers."
"Many of our customers, including fleets and motorists, appreciate the stable pricing that CNG offers, so we’ve remained committed to developing our CNG network," Love said in a statement. "We also understand the demand for cleaner-burning fuels remains steady, and we want to provide more options for our customers."
The statement by the buyer said the purchase is subject to regulatory review before it is completed.