Jobbers World News
January 7, 2008

  • KRG Capital Acquires Tri-County Petroleum, Inc.

  • KRG Capital Acquires Tri-County Petroleum, Inc.

    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.


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