No gas in the tank: GPM Petroleum LP withdraws $100 million IPO

GPM Petroleum LP, which distributes motor fuel to GPM Investments' over 600 acquired convenience stores, withdrew its plans for an initial public offering on Friday. It originally filed in April 2015 with a proposed deal size of $100 million.

The Richmond, VA-based company was founded in 2003 and booked $1.8 billion in sales for the 12 months ended March 31, 2015. It had planned to list on the NYSE under the symbol GPMP. Raymond James, Wells Fargo Securities and RBC Capital Markets were set to be the joint bookrunners on the deal.