As noted in Jobbers World last week when the
deal closed, Maxum Acquired Paulson Oil
(POCO). And as promised, more deals would
come. Well here it is...
Founded in 1956 by Robert J. Paulson and
based approximately 40 miles southeast of
Chicago in Chesterton, Indiana, Paulson is a
leading supplier of motor fuels and
lubricants to commercial and industrial
customers in the greater Chicago and Northern
Indiana areas, with sales of over $200
million annually. The acquisition of Paulson
expands Maxum's existing operations in the
Midwest with a leading, well-respected
distributor, and Paulson's fuel and
lubricants business complements the existing
Chicago area fuel operations of Maxum's
Hartney Fuel Oil subsidiary. The entire
management team of Paulson, including second
generation executives Bob Paulson and Pete
Paulson, will continue in their current roles
as part of the expanded Maxum organization.
"We are very excited for the Paulson team to
join Maxum Petroleum", said Perot Bissell,
Maxum Petroleum's CEO. "Paulson has a great
reputation of service and capabilities in
fuels, lubricants and related services. We
believe those offerings together with
Paulson's fuel additives line will make for a
great addition to our existing strong
presence in the Midwest".
"We are pleased that Paulson Oil is now part
of Maxum", noted Bob Paulson, President of
Paulson Oil. "My brother Pete and I believe
joining an industry leader like Maxum
provides our employees and management team
with more resources to serve our customers
and continue to grow the Company far into the
future."
Maxum Petroleum, Inc., based in Old
Greenwich, CT, is a leading independent
energy logistics company that markets and
distributes a comprehensive offering of
refined petroleum products and services to
commercial and industrial customers. Maxum
is continuing a strategic growth and
acquisition plan in the fragmented commercial
fuel and lubricant distribution industry,
launched in 2004 by three leading private
equity firms, Northwest Capital Appreciation,
Inc., Waud Capital, LLC, and RBC Capital
Partners (through Cadent Energy Partners).
To date, Maxum has completed 11 acquisitions
of fuel and lubricant marketers and
facilities, including Simons Petroleum,
Trevco, Hartney, Pecos (including its General
Petroleum and Rainier Petroleum
subsidiaries), Canyon State Oil, Petroleum
Products and Paulson Oil.
