CrossAmerica Partners LP (CAPL) company profile

CrossAmerica Partners operates in the wholesale and retail distribution of motor fuel and the leasing of related commercial real estate. Through its wholesale segment, the partnership distributes branded and unbranded motor fuel to independent dealers and lessee dealers. Its retail segment engages in the direct sale of motor fuel and convenience merchandise to consumers at company-operated locations, while also supplying motor fuel to sites managed by commission agents. The partnership offers fuels from major oil brands, including Exxon, Mobil, BP, Shell, Marathon, Valero, and Phillips 66.

The organization distributes motor fuel to approximately 1,600 locations across 34 states in the United States. It owns or leases around 1,000 commercial properties, operating 352 of these as company-run retail stores, and generates rental income by leasing real estate to dealer networks and commission agents. The company maintains its principal executive headquarters in Allentown, Pennsylvania.

Summary of the business section of CrossAmerica Partners LP's latest annual report, written by StockData.

“Per Common Unit Total Initial public offering price $ 20.00 $ 120,000,000 Underwriting discounts (1) $ 1.30 $ 7,800,000 Proceeds (before expenses) to us $ 18.70 $ 112,200,000 (1) Excludes a structuring fee equal to 0.50% of the gross proceeds of this offering payable to Raymond James & Associates, Inc.”

Lock-up end is estimated as 180 days after the first trading day; the prospectus sets the actual terms.

“As of December 31, 2018, we had 548 employees who provide services to our Retail segment, all of whom are employed by one of our subsidiaries.”