Elgas to acquire LPG tanker fleet operator Rivet Energy

Rivet and Elgas LPG tankers parked side by side
Image: Elgas

Elgas has signed an agreement to acquire Rivet Energy, Australia’s largest LPG tanker fleet operator and its long-standing bulk transport provider.

Rivet Energy is a leading provider of gas and liquid fuel transportation and distribution services. The company currently services 100% of Elgas’ bulk haulage requirements across Australia.

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As part of the acquisition, Elgas will purchase all of Rivet Energy’s assets including its transport fleet of prime movers, tankers and trailers. Elgas will also retain Rivet Energy’s depots and workforce.

Elgas and BOC managing director Binod Patwari said the acquisition would secure Elgas’ LPG supply chain nationally and provide strong security of supply to thousands of customers across Australia.

“We are delighted to welcome Rivet Energy to the Elgas business and are confident this acquisition will safely deliver greater efficiencies and productivity across our transport fleet with access to industry-leading transport maintenance facilities and expertise,” he said.

“Rivet Energy has a highly experienced management team and drivers who share our strong commitment to safety and have an excellent track record hauling dangerous goods.

“We look forward to working closely together to strengthen Elgas’ national LPG supply chain and deliver strong security of supply to Elgas customers.”

Rivet Energy general manager Mark Anderson said he was delighted to expand the longstanding, productive partnership between Rivet Energy and Elgas.

“We are thrilled to be securing the future of the Rivet Energy business, including the ongoing employment of our experienced staff and drivers who can now be part of Australia’s largest supplier of LPG,” Anderson said.

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“Our transport industry experience and specialist workshops in key metropolitan locations throughout Australia will be a valuable addition to the Elgas transport fleet and delivery services for customers.”

The acquisition is expected to be finalised in the coming weeks.

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