PetroChoice, a leading distributor of petroleum lubricant products, announced today that it has acquired Anderson Lubricants, Inc. from its shareholder Steve King.
PetroChoice is focused on acquiring best-in-class lubricant distributors to expand its geographic footprint and service offering to customers. "Anderson is a great addition to PetroChoice and we look forward to partnering with Steve King and his team," said Robert Black, President of PetroChoice. "We believe the partnership between PetroChoice and Anderson will be very complementary given both companies' focus on providing unmatched service, reliability and product selection and we are excited about the growth opportunities for the combined business."
Anderson, a distributor of commercial and industrial ExxonMobil and private label products, will serve as the foundation for PetroChoice's Midwest division. In addition to distributing lubricants, Anderson has developed an industry leading service platform that further enhances its value proposition to customers.
Steve King, CEO of Anderson, said, "Partnering with PetroChoice will provide Anderson with the necessary resources and capital to accelerate our growth and expand our service offering. In addition, our companies' overlap will enable the sharing of best practices across the entire platform and increase our ability to provide value added services to our collective customers."
Mr. King and the existing Anderson management team will continue in their current roles and will become shareholders of PetroChoice.
As some may recall, JobbersWorld ran a story about KRG Partners Acquiring Tri-County Petroleum in January 2008. That was followed by Tri-County Petroleum Inc. ("Tri-County"), acquiring Loos & Dilworth, Inc in April 2009.
PetroChoice is a leading value added distributor of petroleum based lubricant products. As the largest lubricant distributor in the Mid-Atlantic region, PetroChoice serves a diverse set of customers engaged in industries including OEM, off-highway construction, food processing, surface mining, metal working and passenger automotive. PetroChoice provides its customers with Total Fluids Management for their lubricant needs. The Company distributes an extensive product offering of bulk products and a full range of packaged lubricants. In addition, PetroChoice offers its customers value-added services including customer on-site tank systems, in-plant and off-loading filtration, application engineering expertise, coolant program expertise and expert oil analysis. PetroChoice is actively pursuing organic growth as well as growth through acquisitions. PetroChoice is a platform company of KRG Capital Partners, a Denver based private equity investment firm.