Delek US Holdings, a publicly traded Tennessee-based oil company, is working with outside investor relations counsel as it slates an initial public offering of its oil storage, transportation and marketing spin-off.
Delek on July 12 filed a registration statement for the IPO of Delek Logistics Partners in a share offering that could fetch up to $135M.
The company is working with Alpha IR Group, a Chicago-based firm led by FTI Consulting and FD Ashton Partners vet Chris Hodges, for IR and financial communications counsel.
Noel Ryan is head of IR and corporate communications for Delek.
The logistics unit includes a wholesale marketing business in Texas, hundreds of miles of pipelines, storage facilities, among other operations.
Delek, the parent company, owns the Mapco chain of 500 convenience stores, in addition to its oil services operations. The company is the latest in a line of oil companies to spin off distribution units, including Susser Holdings and Marathon Petroleum in the past month.