Private equity firm ArcLight Capital Partners’ affiliate, Chelsea Petroleum Products Holdings, completed the purchase of Gulf Oil from Cumberland Farms. The acquisition of Gulf is the second major terminal acquisition by ArcLight in the past 12 months.

In a related transaction, Blue Hills Fuels, another ArcLight affiliate, purchased Gulf’s Assured Dealers business, which collects rent from over 200 owned or leased, but non-operated, independently franchised sites under the Gulf or Mobil brand that also purchase branded product under contract from Gulf.

“Gulf is well-established among consumers as a top tier brand and in recent years has experienced significant growth of marketed volumes,” said Dan Revers, managing partner and co-founder of ArcLight. “The ownership of a major petroleum wholesaler and terminal operator represents a significant opportunity in today’s energy industry and is a key component of our investment strategy.”

Gulf, a terminal operator and wholesaler of refined petroleum products, including heating oil, diesel fuel and gasoline, marketed 3.3 billion gallons of products in 2014. Gulf owns and operates a comprehensive network of 12 proprietary refined product storage terminals, with connectivity via the Buckeye and Laurel pipelines as well as barge access that allows Gulf to source product from Canada, Europe, the Caribbean and all of the major U.S. refining markets.