ANNOUNCEMENT
KIMBRO OIL NEWS
FOR IMMEDIATE RELEASE
KIMBRO OIL ANNOUNCES AGREEMENT TO SELL TRI STAR ENERGY INTEREST TO SHELL, ACQUIRE COMMERCIAL FUEL BUSINESS
Transaction honors more than 25 years of partnership while bringing an important part of the business home to Kimbro Oil
NASHVILLE, Tenn., Sept. 1, 2026 — Kimbro Oil Company today announced that it has entered into an agreement to sell its ownership interest in Tri Star Energy LLC to Equilon Enterprises LLC, doing business as Shell Oil Products US (Shell).
Shell is acquiring the remaining interests in Tri Star Energy from The Parman Corporation, Kimbro Oil Company and their subsidiaries, increasing its equity in Tri Star Energy from 33% to 100%.
As part of the agreement, Kimbro Oil Company will separately acquire Tri Star Energy’s commercial fuel business, which will continue to operate independently of the sale to Shell.
More than 25 years ago, the Kimbro family, through Kimbro Oil Company, joined The Parman Corporation and Shell in a venture that became Tri Star Energy. The partnership created an opportunity to carry forward the legacy of the generations before them while laying a stronger foundation for those who would follow.
Since then, Tri Star Energy has grown into one of the Southeast’s leading convenience retail and fuel distribution companies. The Kimbro family is deeply proud of what the partners built together and grateful to the employees whose dedication made that success possible.
“This is one of the most significant milestones in the history of our family and our businesses,” said William Kimbro, president and CEO of Kimbro Oil Company. “We are incredibly proud of what was built through Tri Star Energy and thankful for the partnership that made it possible. This transaction honors that history while opening the door to an exciting future for Kimbro Oil.”
The acquisition of the commercial fuel business will significantly expand Kimbro Oil’s bulk plant network, geographic reach and delivery capabilities. It will also bring experienced employees, valuable expertise and new opportunities into the Kimbro family of companies.
“Commercial fuel has long been at the heart of Kimbro Oil and remains a business our family knows and believes in,” William Kimbro said. “In many ways, business is coming home. We look forward to bringing our people together and building a stronger company for its employees, customers and the communities it serves for years to come.”
The transaction is expected to be completed by the end of 2026, subject to regulatory clearance and the satisfaction of customary closing conditions.
Financial terms were not disclosed. Raymond James is serving as financial advisor to Kimbro Oil Company, and Bricker Graydon Wyatt LLP is serving as transaction counsel.
About Kimbro Oil Company
Kimbro Oil Company is a family-owned energy company based in Nashville, Tennessee, serving businesses across Middle Tennessee and the broader Southeast. The company provides commercial fuels, lubricants and related energy products and services supported by a dedicated transportation and delivery network. Through generations of Kimbro family leadership and committed employees, the company has built its business around dependable service, lasting relationships and responsible growth.
Media Contact: Des Carlisle, dcarlisle@kimbrooil.com, 615-484-1174
