CEO Today Global Awards

CEO Today Global Awards 2020 79 www.ceotodaymagazine.com USA operator. Luc has led the company to streamline operations, reduce debt and leverage, divest non- core assets, re-focus the business on its core competencies and embark on an aggressive M&A program. After accomplishing Superior’s “Destination 2015” strategic initiative program, which focused on improving the operations through cost-savings and process improvement, Luc initiated a strategic review of Superior’s portfolio of businesses. In August 2016, Superior successfully completed the sale of its Construction Products Distribution (“CPD”) business for $325M U.S. Dollar (approximately $420 million CAD). Superior used the sale proceeds to pay down debt and reduce leverage, improving the strength of the balance sheet, enabling Superior to invest in organic growth and pursue accretive acquisitions in its core propane distribution business. In February 2017, Superior acquired Canwest Propane for approximately $400 million CAD. Canwest Propane was the second largest propane distributor in Canada and the acquisition solidified Superior’s position as the leading propane distributor in Canada, with a diversified customer base and a coast-to-coast presence. Following the close of the acquisition, Luc successfully led the realization of over $20 million CAD in synergies by applying the company’s best in class operating model, “The Superior Way” and leveraging Superior’s existing integrated digital platform and tank sensors. In July 2018, Superior acquired NGL Propane, LLC, a retail propane business for $897 million USD (approximately $1.2 billion CAD). The acquisition was the largest in Superior’s corporate history and significantly expanded Superior’s U.S. propane distribution business. This acquisition was transformative as Superior became the second largest retail propane distributor in North America and significantly increased Superior’s operating footprint in the Eastern U.S. Superior had an initial synergy target of approximately $20 million USD at the close of the acquisition, and the target was subsequently increased to $24 million USD. Under Luc’s vision, Superior successfully reached its Evolution 2020 target ahead of schedule and continues to establish its position as a North American leader in its core businesses. Superior’s propane distribution model, developed at Superior Propane, is modern and provides Superior with a competitive advantage through a professional sales and marketing team and approach, an advanced operating model utilizing data and digitalization to increase organic growth and improve operational and logistic efficiencies. Superior ensures safety and employee engagement are the focus in everything the company does.