KSS Fuels to Acquire MPSI
Will leverage collective resources to diversify into new market verticals, sectors
Published in CSP Daily News
MANCHESTER, U.K. & TULSA, Okla. -- KSS Fuels and Market Planning Solutions Inc. (MPSI), leading providers of fuel pricing software, network planning services, data collection and analytics to the petroleum/convenience store and other industries, said that KSS Fuels will acquire MPSI and that the respective organizations will be merged, effective in late May, subject to shareholder approval.
In addition to integrating both companies' fuel pricing software and analytics, the combined organization will build upon MPSI's recognized leadership in network planning capabilities [image-nocss] globally to serve petroleum, convenience and grocery retailers of all sizes and in all segments of the market. It will also leverage the companies' collective research, sales and marketing resources to diversify into new market verticals and sectors.
"Together, we will provide global reach, unparalleled service and a comprehensive suite of proven solutions to deliver even greater value to customers in our existing markets and to serve the rapidly developing needs of customers in emerging fuels markets," said Bob Stein, president and CEO of KSS Fuels, who will manage the combined entity.
"We will draw upon our strong customer relationships and broad experience in serving the oil and gas and petroleum retail industries. Besides providing continuity to current products and services of both companies, we will also create valuable new service and business analytic offerings by teaming the best minds and proven industry experts to maximize the benefits of the math, science and intellectual capital of both of our organizations. In doing so, we will create additional opportunities to help our customers--and our company--grow.""We're putting together an entity that is going to have the leading fuel pricing solutions for the United States and worldwide," Stein told CSP Daily News. "We do pricing and they do pricing, so the combination is going to have tremendous value for the marketplace in terms of tools and analytics and services. Especially with all of the volatility that is in the [fuel] market right now. People are looking at how to have more confidence in managing and pricing in times like this."
He also said, "MPSI has long been in network planning activities, which is really around rationalization of assets. There is so much going on in the marketplace--divestitures from the oil companies, jobbers getting bigger and other changes--we're excited about how adding that service to the U.S. convenience market is going to enable us handle a network in terms of building, acquiring, remodeling and closing. The combination of being able to understand your network very clearly and how to make adjustments to your network going forward, and then to have confidence in speed of pricing, is what really put this all together."James Auten, president and CEO of MPSI, added, "This presents an opportunity to introduce MPSI's network planning products and data services to customers with which KSS Fuels already has relationships, to have the combined entity develop new consulting and analytic services to bring to market and to leverage the collective resources of the organization to accelerate progress in nonpetroleum sectors."
The companies currently serve approximately 500 customers in more than 80 countries, they said, with little overlap in customer base.
"With its broadened geographic reach, the combined organization will be in a strong position to provide value-added solutions across the globe, including Africa, China, India, Japan, Russia, Southeast Asia, Europe and the Americas," said Auten.
KSS Fuels will continue to operate under both the KSS Fuels and MPSI brands for the time being, and will maintain and service existing products. Its headquarters will be in Manchester, U.K., with MPSI offices remaining in Tulsa, Okla., and international locations.
KSS Fuels is a leading global provider of pricing software, analytics and consulting services to fuel retailers and wholesalers in the oil and gas, convenience store, grocery and retail industries. It helps fuel marketers and distributors implement pricing solutions. The company's U.S. headquarters is located in Florham Park, N.J., and its international headquarters is located in Manchester. KSS Fuels is 100% owned by Eurovestech plc.
Based in Tulsa, MPSI is a leading provider of fuels pricing, site evaluation and network planning solutions. Its products and services help customers with fuels price management, price optimization, volume projections, retail asset management and retail outlet data. It also provides traffic data, demographics and online mapping.