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JOBBERSWORLD...MARKET INTELLIGENCE FOR INTELLIGENT MARKETERS... The First and Only Independent Newsletter to Focus on Lubricant Distributors.
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MSouth Equity Partners Acquires PetroLiance
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PetroLiance, one of the leading lubricant and fuel distributors in the US, has been acquired by MSouth Equity Partners. The company will reportedly continue to operate under the PetroLiance name and its management team will remain in place.
From what JobbersWorld is told, MSouth plans to expand PetroLiance's reach through add-on acquisitions.
MSouth Equity Partners, based in Atlanta, is a private equity investment firm that provides equity capital (and expertise) to support management teams in acquisitions and recapitalizations of lower middle market companies typically valued $25-$125 million.
While terms of the transaction were not disclosed, the Debt Investment Group of GB Merchant Partners (investment management firm affiliate of Gordon Brothers Group), provided a $10 million term loan in conjunction with financing by MSouth Equity Partners to support their acquisition of PetroLiance. GB's financing is in addition to the investment made by MSouth Equity Partners in PetroLiance.
PetroLiance was formed in 2006 through the merger of four of the largest ExxonMobil distributors; including Boncosky Oil, Commercial Ullman Lubricants Company, Young Oil Company and Lubricant Technologies. PetroLiance serves the Chicago, Ohio, North Carolina, South Carolina, Georgia, and Florida markets.
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