Written on: March 9, 2022 by ICM
Lakes Gas Co., Wyoming, MN, has acquired the propane and refined fuels delivery business of Foss-Johnson Oil, LLC based in Walcott, ND. The transaction closed on March 1. Terms of the deal were not disclosed.
For nearly 70 years, Foss-Johnson Oil has been delivering home comfort in North Dakota’s Richland County. Founded by Ernie Johnson who initially named the company Johnson Oil, by 1955 the business was acquired by Ray Foss who renamed it to include his name. Ray’s family stepped in after his death and in 1991 his daughter Penny Cirks bought the business from her mother Lillian.
The company today sells and delivers propane, heating oil, and diesel fuel to residential and light commercial customers. In the early 2000s, the company built more storage, and added buildings to its Walcott facility. The company later added a retail refueling station with gasoline and diesel to serve motorists traveling on the interstate.
“We are very happy that our company will become a part of Lakes Gas,” said Foss-Johnson Oil Owner Penny Cirks. “We’ve built a great reputation for exceptional service which we know is a high priority for Lakes Gas as well.”
Family-owned for more than 60 years, Lakes Gas Co. is now one of the largest propane providers in the Midwest. Their 48 locations in the upper Midwest are all staffed by employees who live in the communities they serve.
“We’re pleased to be working with the dedicated Foss-Johnson group and are proud to carry on their legacy,” said President & CEO Trent Hampton. “We take pride in our customer service professionals—this is a very good match.”
Cetane Associates served as the sole arranger and business advisor to Foss-Johnson Oil.