KRG Capital Partners (KRG), a Denver -based
private equity firm, announced today that it
has completed an investment in Tri-County
Petroleum Inc (TCP). Tri-County,
headquartered in Riddlesburg, Pennsylvania,
is a leading specialty distributor of
industrial and commercial lubricants. TCP is
the ninth platform company for KRG's $715
million fund III.
Stew Fisher, Managing Director of KRG Capital
added, "We believe Tri-County's strength
results from the strong commitment of its
people. Under the leadership of Robert Black
and Gregory Black, the Company has complied
sales, operations, delivery and back office
personnel committed to providing its
customers best-in-class service every day."
"We are very excited to be partnering with
the management team at Tri-County to support
the growth of this great company" noted Ted
Nark, Managing Director , of KRG Capital. "We
are very impressed with Tri-County's focus on
customer service and the longstanding
partnership the Company has established with
its major suppliers."
KRG's investment in Tri-County will support
the continued organic and acquisitive growth
of the Company. Through investments in
Tri-County's existing operation and selective
acquisitions, KRG and Tri-County expect to
continue increasing the Company's value
proposition to its customers, suppliers, and
personnel. Tri-County's existing owners will
continue to be shareholders of the Company.
Tri-County Petroleum serves a diverse set of
over 2,500 customers in the Mid-Atlantic
region. It's product line includes
ExxonMobil, Castrol, Texaco, ConocoPhillips,
Jax and PowerService.
KRG Capital Partners
Founded in 1996, KRG is a Denver-based
private equity firm with nearly $4 billion of
capital either deployed or available for
future investment, which includes
approximately $600 million deployed since
inception on behalf of equity co-investors.
KRG specializes in acquiring and
recapitalizing unique and profitable
middle-market companies. The firm seeks
investment opportunities for its partners
where KRG can work in concert with owners and
operating managers who are committed to
expanding their companies and becoming
industry leaders. The result is a partnership
that focuses on creating a significantly
larger enterprise through a combination of
internal growth and complementary add-on
acquisitions. For more information on KRG
Capital Partners, please visit
www.krgcapital.com.