Two U.S. lubricant distributors with extensive but distinct geographic reaches joined forces this week, as PetroChoice acquired PetroLiance.
PetroChoice, which is based in Avoca, Pa., and Superior, Wis., purchased PetroLiance, which is headquartered in Apex, N.C.,for an undisclosed sum. Last month, PetroChoice absorbed LubriCorp, a distributor based in Knoxville, Tenn., and opened a new distribution hub in Bridgeport, Ohio.
PetroLiances distribution network – spanning Florida, Illinois, North Carolina, Georgia, Ohio and South Carolina – will add to PetroChoices network after the LubriCorp acquisition, which includes Kentucky, Virginia, Georgia, Alabama, West Virginia and parts of North Carolina and Tennessee. PetroChoice now serves 20 states from a total of 27 locations, the company said in a press release issued last week.
The industry is becoming more complex with the rapid introduction of new products.At the same time, our customers are under pressure to do more with less, said Shane OKelly, CEO of PetroChoice. The benefits of bringing PetroLiance and PetroChoice together as a single company are readily apparent. Our geographic markets are highly complementary as their locations help fill in gaps in our existing network while also extending our reach in the Southeast, O’Kelly told Lube Report.
PetroChoice and PetroLiance built their businesses through the acquisition and combination of multiple companies in response to customer demands for fewer, more capable distributors, said Kevin McCarter, PetroLiances CEO. As the market begins to see the benefits of the combination, that trend will no doubt accelerate.
Shane OKelly will remain CEO of PetroChoice, while Kevin McCarter will serve as a consultant until his retirement in 2015.
PetroLiance distributes lubricants, metalworking fluids, fuel products and related equipment to industrial, commercial and passenger vehicle markets. PetroLiance was owned by MSouth Equity Partners.
PetroChoices offering includes lubricants, coolants, metalworking fluids, equipment, heaters, lifts, automotive lubrication and filtration systems, and contamination control devices. With the aqusition of PetroLiance, the company will now distribute fuels as well. The company is owned by Greenbriar Equity Group LLC.