PetroChoice Opens New Distribution Center

PetroChoice, a leading provider of lubrication solutions, announces the opening of its newest location in Lamesa, TX. The new facility is the 52nd location for PetroChoice and will serve as a distribution center for Western Texas and Eastern New Mexico.

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Building on PetroChoice’s expansion from the acquisition of Universal Lubricants last year, the Lamesa location solidifies the PetroChoice footprint in Western Texas. This location will enhance service to the Permian Basin region, a large oil and natural gas producing area, as well as accommodate future growth.

“The Lamesa expansion is a key step in PetroChoice’s continued growth strategy and we are one of the few lubricant distributors investing in new greenfield locations to support current and future customers,” says Rick Palmore, Regional Vice President of PetroChoice’s Western Region. “Our Lamesa branch will carry a full line of high-quality products to serve the industrial, commercial and automotive businesses. PetroChoice will also provide our trusted and proven services to add value to our customers.”

PetroChoice combines deep operational and equipment expertise with value-added lubrication services to create a platform for customer success. Laboratory services, including the company’s Engine Guard® oil analysis program and LifeLines® equipment maintenance program, allow heavy-duty equipment owners and operators the ability to improve efficiencies with their major capital assets. PetroChoice also offers automatic lubrication systems and customized equipment programs for complete customer support.

“Expanding our footprint allows us to further serve a new audience in this area and offer an unparalleled level of sales, service and distribution capabilities,” added Palmore.

“PetroChoice is committed to putting our customers first, driving improvements in the way we deliver products and services,” says Gary Shaffer, Operations Vice President of the Western Division. “This is the ideal location to better provide our comprehensive programs to the West Texas market.

About PetroChoice:
PetroChoice is one of the largest petroleum-based lubricant distributors in the United States, providing business solutions for industrial, commercial, and passenger automobile customers. The company, headquartered in Fort Washington, Pennsylvania, operates 52 locations across the U.S. and employs some of the nation’s most knowledgeable technical experts of petroleum lubrication and equipment. PetroChoice is a portfolio company of Golden Gate Capital. For more information about PetroChoice, please visit Petrochoice.com.

PetroChoice Acquires Miller Industrial Fluids, LLC

PetroChoicePetroChoice today announced the acquisition of Miller Industrial Fluids, LLC (“Miller”), an Indianapolis-based distributor and blender of metalworking products, specialty lubricants, and rust preventatives. Through this acquisition, PetroChoice will gain immediate presence in the Indianapolis market, providing a critical bridge between its current Ohio and Illinois locations. With the acquisition of Miller, PetroChoice now has 51 locations servicing 32 states.

Founded in 2004, Miller serves a broad customer base primarily across the aerospace and automotive manufacturing segments and has earned a reputation for delivering high quality products and exceptional service. Ross Smith, President and CEO of Miller, will serve as PetroChoice’s General Manager for the Indianapolis market.

“The addition of Miller enhances our ability to service the metalworking market in the Indianapolis area and strengthens our geographic footprint in the Midwest. We are excited to welcome Ross Smith and Miller’s outstanding employees to the PetroChoice team,” said Shane O’Kelly, CEO of PetroChoice. “This transaction marks PetroChoice’s fourth acquisition over the last twelve months and we will continue to evaluate ways in which we can expand our network through organic and inorganic growth opportunities, including strategic acquisitions.”

Ross Smith, President and CEO of Miller, said, “We are pleased to join forces with PetroChoice, the premier U.S. distributor of lubricants and services. We are a natural fit, with similar customer-centric cultures and values, rooted in a shared focus on delivering the highest-quality products and solutions to our customers.”

Kevin Lowe, CFO of Miller stated, “The team at Fifth Third Securities did an excellent job of bringing structure to the process. We are very excited that this led us to an agreement with PetroChoice.”

Fifth Third Securities, Inc. acted as exclusive financial advisor to Miller Industrial Fluids, LLC on its sale to PetroChoice. Nob Hill Law Group, P.C. provided legal advice to PetroChoice.

About PetroChoice:
PetroChoice is a leading value-added provider of petroleum based lubrication products and services, providing its customers with complete Lubrication Solutions to meet their Safety, Savings, and Sustainability goals. PetroChoice distributes an extensive product offering of lubricants, coolants, metalworking fluids, equipment, auto-lube and filtration systems, and contamination control devices backed by unmatched technical expertise and services. This is the 17th acquisition that PetroChoice has made since 2008. PetroChoice is a portfolio company of Golden Gate Capital. For more information about PetroChoice, visit www.petrochoice.com 

About Miller Industrial Fluids, LLC:
Miller Industrial Fluids, LLC is a custom blender and distributor of high quality lubricants, cutting fluids, rust preventatives, cleaners, coolants and drawing compounds. Miller provides reclamation and disposal services to provide a full product life cycle service. Miller is committed to the continued growth and improvement of their manufacturing and service capabilities and dedicated to long-term success of their customers. For more information about Miller Industrial Fluids, visit  www.millerif.com

About Fifth Third Bancorp:
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company had $143 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,497 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth Asset Management.

PetroChoice Acquires the Lubricant Division of Rex Oil Company

PetroChoicePetroChoice is pleased to announce the acquisition of the lubricant division of Rex Oil Company in Thomasville, North Carolina, solidifying its footprint in Central North Carolina.

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Left to Right:
Jeff Nance and Bob Crouch

“At PetroChoice, we take pride in offering our customers unparalleled sales, service and distribution capabilities. The addition of Rex Oil will allow us to reach our Central North Carolina and Southern Virginia customers more efficiently and effectively,” said Bob Crouch, Executive Vice President of PetroChoice’s Eastern Division.

RexOilLogoEstablished in 1932, Rex Oil Company services the Piedmont Triad area of North Carolina with dependable lubricant delivery to the commercial, automotive and industrial markets.

“PetroChoice’s mission and values directly reflect ours- to deliver quality products and lubrication solutions to our customers,” said Jeff Nance at Rex Oil. “We are excited to join the PetroChoice team and continue to grow our relationships.” Mr. Nance will join the PetroChoice team as Area Manager for Central North Carolina.

PetroChoice continues to grow by acquiring best-in-class lubricant distributors that are a strategic fit with its business model, expanding its product and service offerings to customers as well as its geographic footprint.

About PetroChoice:
PetroChoice is a leading value-added provider of petroleum based lubrication products and services, providing its customers with Lubrication Solutions to meet their Safety, Savings, and Sustainability goals. PetroChoice distributes an extensive product offering of lubricants, coolants, metalworking fluids, equipment, auto-lube and filtration systems, and contamination control devices backed by unmatched technical expertise and services. This is the 16th acquisition PetroChoice has made since 2008. For more information about PetroChoice, visit www.petrochoice.com.

PetroChoice Acquires Hagan Kennington Oil Company

PetroChoicePetroChoice announces the acquisition of Hagan Kennington Oil Company in Charlotte, North Carolina.

The deal further broadens PetroChoice’s distribution reach in North and South Carolina. “Hagan Kennington is a great company and together we will continue to provide the quality products and high level of service expected by lubricant customers throughout the Carolina Region,” said Bob Crouch, Executive Vice President of the PetroChoice Eastern Division.

Located in Gastonia, NC, Hagan Kennington Oil Company has been servicing Western portions of North and South Carolina for over 50 years. The company distributes HaganKenningtonLogolubricants, equipment and a wide range of related services to the commercial, automotive, and industrial markets. “Our mission of delivering quality products with great customer service fits really well with PetroChoice’s vision,” said Grady Kennington. “We are excited for the opportunity to bring our teams together and build on our company’s legacy.” Mr. Kennington is joining PetroChoice and will lead sales and operations in the Charlotte market.

PetroChoice continues to grow through acquiring best-in-class lubricant distributors that are a strategic fit with its business model, expanding its product and service offering as well as its geographic footprint.

 About PetroChoice:

PetroChoice is a leading value-added provider of petroleum based lubrication products and services, providing its customers with Lubrication Solutions to meet their Safety, Savings, and Sustainability goals. PetroChoice distributes an extensive product offering of lubricants, coolants, metalworking fluids, equipment, auto-lube and filtration systems, and contamination control devices backed by unmatched technical expertise and services. This is the 15th acquisition PetroChoice has made since 2008. For more information about PetroChoice, visit www.petrochoice.com.

BREAKING NEWS! PetroChoice Acquires Universal Lubricants’ New Oil Business

PetroChoiceSignificantly Expands West and Midwest Coverage with Addition of 15 New Distribution Locations

PetroChoice, a leading provider of lubrication solutions, announced today that it has acquired Universal Lubricants’ new oil business from an entity controlled by Pegasus Capital Advisors. Through this acquisition, PetroChoice will add 15 distribution locations bringing their total to 45 facilities servicing 31 states.

Under the terms of the transaction, PetroChoice also acquired Universal Lubricants’ laboratory and blending facilities. In addition, PetroChoice has established a preferred vendor relationship with Universal Lubricants’ refinery and environmental services divisions, which were not included in the transaction. Additional terms of the deal were not disclosed.

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L-R Shane O’Kelly, PetroChoice; Rick Palmore, Universal Lubricants; Andrew Cooper, Pegasus Capital Advisors; Steve King, PetroChoice

“Universal Lubricants’ new oil business is a natural strategic fit for PetroChoice as it significantly enhances our resources, expands our geographic reach as far west as Denver, and solidifies our position as the largest bulk lubricant distributor in the United States,” said Shane O’Kelly, CEO of PetroChoice.” This combination will also benefit customers of both companies as we will be able to provide them with a broader selection of products, services and solutions at more locations. With the backing of Golden Gate Capital, we will continue to evaluate ways in which we can expand our operating network through strategic acquisitions and distribution partnerships with best-in-class lubricant distributors.”

Rajeev Amara, a Managing Director of Golden Gate Capital, said, “We are pleased to support PetroChoice’s impressive growth and management team led by Shane O’Kelly. We look forward to PetroChoice’s continued success as they accelerate and execute on their expansion strategy.”

“PetroChoice is the premier U.S. distributor of lubricants and services, and we are excited to partner with them to provide our customers with access to an unmatched selection of products and solutions and industry-leading customer service,” said Rick Palmore, Vice President of Sales at Universal Lubricants. “Importantly, our cultures, values and missions are very much aligned, and together, we will be better able to deliver the complex solutions, technical expertise and deep industry knowledge that our customers demand.”

Andrew Cooper, CEO of Universal Lubricants and Partner at Pegasus Capital Advisors, commented, “We are pleased to sell Universal Lubricants’ new oil business to PetroChoice. Universal Lubricants has been a leader in developing the closed loop solution, from used oil collection to branded lubricant sales, and this transaction recognizes the value of that business model, allowing PetroChoice to extend its technical leadership and customer relationships across a broader footprint.”

Founded in 1929, Universal Lubricants is a recognized leader in the distribution of high-quality lubricants, leveraging innovation to meet U.S. demand for oil, including creating customer-specific blends that perform in some of the most extreme environments in North America. Universal Lubricants’ proprietary product lines include their signature Universal® line for automotive and heavy-duty diesel engines; their Dyna-Plex 21C® premium heavy-duty line; and their sustainable Eco Ultra® line. The Company’s new oil business is based in Wichita, Kansas and employs approximately 215 people across their 15 distribution locations.

Mr. Palmore, an industry veteran with over 30 years of experience, will join PetroChoice as Regional Vice President. Going forward, Universal Lubricants’ environmental services companies will operate as RS Used Oil Services, Inc. and Midstate Environmental Services, LP.

About PetroChoice:
PetroChoice is a leading value-added provider of petroleum based lubrication products and services, providing its customers with complete Lubrication Solutions to meet their Safety, Savings, and Sustainability goals. PetroChoice distributes an extensive product offering of lubricants, coolants, metalworking fluids, equipment, auto-lube and filtration systems, and contamination control devices backed by unmatched technical expertise and services. This is the 14th acquisition PetroChoice has made since 2008. For more information about PetroChoice, visit www.petrochoice.com.

Universal Lubricants:
Universal Lubricants® is a recognized leader in distribution of high-quality proprietary lubricants serving the areas of industry, agriculture, heavy construction, trucking, mass transit and passenger cars throughout the country for more than 85 years. They are trusted providers of lubricants, oil analysis, technical assistance and preventative maintenance consultation. They deliver a wide variety of products, technical services and efficient distribution with brands that represent quality and dependability. For more information about Universal Lubricants, visit www.universallubes.com. For more information about Environmental Services, please visit www.rsusedoil.com and www.midstateenv.com.

Golden Gate Capital:
Golden Gate Capital is a San Francisco-based private equity investment firm with over $15 billion of capital under management. The principals of Golden Gate Capital have a long and successful history of investing across a wide range of industries and transaction types, including going-privates, corporate divestitures, and recapitalizations, as well as debt and public equity investments. Other notable mining and industrials investments sponsored by Golden Gate Capital include US Silica, EP Minerals, ArrMaz, Humanetics Innovative Solutions, Springs Window Fashions, Canada Fluorspar Inc. and Atrium Windows. For more information, visit www.goldengatecap.com.

About Pegasus Capital Advisors, L.P.:
Pegasus is a private equity firm founded and led by Craig Cogut. Since inception in 1996, Pegasus has invested across five private equity funds and currently manages approximately $1.8 billion in assets. The Firm’s principal investment theme is providing strategic growth capital to companies within the middle-market focused on global resource scarcity, particularly energy, waste, food, water and health & wellness.

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