Dirty Little Secrets???? |
Jobbers World received an interesting and
certainly concerning letter today. The
letter, which although anonymous, is said to
be authored by a "concerned" Jobber.
According to the contents of the letter, it
likely went to many lubricant jobbers in the
business. And from what we are hearing, it
has created quite a stir.
Whereas Jobbers World typically does not
publish anonymous letters, we are making an
exception in this case due to significance of
this letter should the allegation presented
be true. Since the author of the letter did
not identify who they are, in fairness to the
companies mentioned in the letter, we blacked
out their names so they too could not be
identified.
Read on by clicking the link to the letter
below and let Jobbers World know what you think.
Contact me at tom_glenn@petrotrends.com, or
call 732-494-0405.
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PetroLiance Completes First Acquisition |
PetroLiance LLC, which was formed last year
through the consolidation of four of the
nation's largest ExxonMobil distributors, has
completed its first acquisition. The company
today announced it has purchased the assets
of Columbus-based AV Lubricants Inc.,
effective Sept. 1, 2007.
AV Lubricants is a leading provider of
lubricants to the aviation industry and to
mining operations in Ohio, Kentucky and
neighboring states. According to PetroLiance,
AV Lubricants is one of the most successful
companies in its field and that is why it was
instrumental to PetroLiance LLC to acquire
this innovative and rapidly growing company.
The acquisition has expanded the PetroLiance
family.
The acquisition will benefit the customers
and employees of both PetroLiance and AV
Lubricants, says PetroLiance CEO Kevin
McCarter. "AV Lubricants is a strong,
well-run company that is widely recognized
for its excellent service and technical
support," McCarter said. "Their expertise in
several key specialized off-road lubricants
markets will greatly benefit the PetroLiance
organization."
"We are delighted and enthusiastic to become
part of the PetroLiance team," adds George
Morrison, AV Lubricants' founder and CEO.
"PetroLiance's significant resources will
benefit our customers and employees, while we
will be able to contribute valuable technical
expertise and other strengths to the
organization. It truly is a synergistic
combination."
Morrison will assume a leadership role in
PetroLiance's sales and technical service. A
published author with expertise in fuel,
filtration and additives, he is recognized as
a Certified Lubrication Specialist by the
Society of Tribologists and Lubrication
Engineers. AV Lubricants has also pioneered a
number of marketing innovations including
advances in the use of online ordering and
support.
"George Morrison's personal expertise, and
the strength of the entire AV Lubricants
organization, made this an ideal company for
our first acquisition," notes McCarter. "We
are enthusiastic about the opportunity to
support those strengths by applying the
significant resources of the PetroLiance
organization."
PetroLiance has major facilities in Columbus,
Ohio, the headquarters of AV Lubricants. It
was an additional value-added benefit that
further enhanced the synergy of the
acquisition. "To complete our first
acquisition so smoothly and successfully is
very encouraging." McCarter adds, "It
establishes a very positive model for future
transactions."
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Maxum Petroleum Files S-1 |
For those that have not yet heard, Maxum
Petroleum Holdings filed an S-1 with the U.S.
Securities and Exchange Commission (SEC) on
August 13, 2007. And if you take the time to
read it, it becomes clear that Maxum is
likely the largest lubricant marketer in the
US.
Maxum Petroleum Holdings Inc. said it has
filed Form S-1 with SEC for its proposed
initial public offering. The company has
planned to offer $400 million shares of its
common stock.
Maxum Petroleum, Inc., based in Greenwich,
CT, is a wholly-owned subsidiary of SPI
Petroleum LLC, an acquisition vehicle formed
in 2004 by three leading private equity
firms, Northwest Capital Appreciation, Inc.,
Waud Capital, LLC, and RBC Capital Partners
(through Cadent Energy Partners) to
consolidate the fragmented commercial fuel
and lubricant distribution industry. To date,
Maxum Petroleum or its affiliates have
acquired eight fuel and lubricant marketers,
including Simons Petroleum, Trevco, Hartney,
Pecos (including its General Petroleum and
Rainier Petroleum subsidiaries), Canyon State
Oil and Petroleum Products. Simultaneous with
this acquisition, Maxum increased its credit
facilities (co-led by PNC Bank, National
Association and JPMorgan Chase Bank, N.A.) to
over $400 million.
The S-1 is a good read and it can be accessed
a number of ways, including EDGAR Online, and
SECinfo.com
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