27 04 2016

One Rock Capital Partners to acquire downstream assets from Chevron in Hawaii

Chevron U.S.A. operations in Hawaii will be acquired by Island Energy Services, LLC, a subsidiary of One Rock Capital Partners, LP.


Island Energy Services, LLC, a wholly owned subsidiary of One Rock Capital Partners, LP has signed an agreement to acquire from Chevron U.S.A. Inc. certain refining, distribution and retail assets located in Hawaii, including the 58,000 barrel-per-day refinery in Kapolei, Chevron's interests in a network of 58 retail service stations, four product distribution terminals on Oahu, Maui, Kauai and Hawaii Island, pipeline distribution systems and other related downstream assets statewide.
Financial terms of the transaction were not disclosed.
The agreement is subject to customary regulatory approvals and is expected to be completed during the second half of 2016.
Jones Day is advising Chevron U.S.A. Inc. (“Chevron”) regarding its sale to Island Energy Services, LLC, a wholly owned subsidiary of One Rock Capital Partners, LP (“One Rock”), of all of Chevron’s refining, distribution and retail assets located in Hawaii, including a 58,000 barrel-per-day refinery in Kapolei, interests in a network of 58 retail service stations, four product distribution terminals on Oahu, Maui, Kauai and Hawaii Island, pipeline distribution systems and other related downstream assets in Hawaii.
The Jones Day team was led by Jeffrey Schlegel (picture) and David Stringer.
One Rock is advising on the deal by Hogan Lovells, with a team led by Alexander Johnson, Andrew Felton and Regwood Snipes. Involved fees earner: Jeffrey Schlegel - Jones Day; David Stringer - Jones Day; Alexander Johnson - Hogan Lovells; Andrew Felton - Hogan Lovells; Regwood Snipes - Hogan Lovells;

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