Global Partners LP 9.50% Series (GLP-B)

Overview

Global Partners LP, established in 2005, is headquartered in Waltham, Massachusetts, and specializes in the energy supply chain, focusing on the importation, marketing, and distribution of a wide range of petroleum products, including gasoline, distillates, residual oil, and renewable fuels. Operating through a network that encompasses transportation and storage logistics, the company manages to efficiently supply product to wholesalers, retailers, and commercial customers across different sectors. With its operations segmented into Wholesale, Gasoline Distribution and Station Operations, and Commercial, Global Partners harnesses a diverse service platform that caters to a wide array of energy needs, leveraging railcars, barges, trucks, and pipelines for transportation, while also engaging in direct sales and operations of convenience services through gasoline stations.

Products and Services

• Wholesale products and services: This involves the sale of home heating oil, branded and unbranded gasoline and gasoline blendstocks, diesel, kerosene, and residual oil to retailers and wholesale distributors. The comprehensive service includes logistical support encompassing transportation of these products utilizing railcars, barges, trucks, and pipelines, ensuring timely and efficient delivery to clients.
• Gasoline Distribution and Station Operations: Under this segment, Global Partners sells branded and unbranded gasoline to operators and sub-jobbers. Beyond fuel, the segment extends into the operation of gasoline stations and convenience stores, offering a range of ancillary services such as car washes, lottery, ATM facilities, and the leasing of gasoline stations, thus providing a holistic service package to gasoline station operators.
• Commercial services: This segment is focused on delivering an array of fuels including unbranded gasoline, home heating oil, diesel, kerosene, residual oil, and bunker fuel to a diverse commercial clientele. Targeting public sector entities as well as commercial and industrial end-users, the segment is tailored to meet the specific energy needs of each client with solutions like custom blended fuels. The segment underscores Global Partners’ commitment to serving the broad spectrum of energy requirements across different commercial landscapes.
• Transportation of petroleum products and renewable fuels: An integral part of Global Partners’ operations involves the strategic transportation of petroleum products and renewable fuels. The company manages to bridge the supply chain by facilitating the movement of these commodities through rail from significant production regions in the mid-continent area of the United States and Canada. This not only amplifies the company's logistical capabilities but also enhances its role in the renewable fuels market, reinforcing its position as a key player in the energy sector.