Monthly Archives: November 2016

RelaDyne Acquires the Lubricants & Commercial Fuel Divisions of Slidell Oil Company

RelaDyne is proud to announce the recent acquisition of the lubricants and commercial fuel divisions of Slidell Oil Company, a distributor of lubricants, fuel and diesel exhaust fluid in Alabama. With the Slidell Oil locations in Montgomery and Demopolis, this acquisition significantly expands RelaDyne’s geographic density and capabilities within Alabama.

Slidell Oil began as a Shell Oil Company jobber in Louisiana in 1948 and has since grown to span Mississippi, Alabama, Florida and Georgia marketing retail fuel programs for Shell, Chevron, Texaco, Valero, and Liberty brands. Now, this top-tier division of Slidell Oil Company is joining the RelaDyne family.

As one of the nation’s leading providers of lubricants, fuel, diesel exhaust fluid (DEF), and industrial reliability services, RelaDyne will be better able to fulfill the needs of its existing Alabama customers as well as provide new products and services to an expanded three-state area with Slidell Oil’s market reach.

“First and foremost, we welcome all the Slidell Oil customers and associates to the RelaDyne family,” says Larry Stoddard, RelaDyne President and CEO. “We feel the Alabama market continues to present abundant growth opportunities for RelaDyne’s wide breadth of products and services as well as expanding opportunities for current and now new RelaDyne associates. We are committed to the Alabama market and community through this, our third acquisition in Alabama.”

“RelaDyne is such a great fit for our people and our customers,” states Brian Baker, owner and co-CEO of Slidell Oil Company. “We intentionally partnered with RelaDyne because of their reputation, and we knew they would take great care of our associates and our customers. RelaDyne will provide our associates with expanded opportunities and our customers with new products and services we could not previously provide with our resources.” Brian and Keith Baker are third-generation family owners and are honored to have the lubricants and commercial fuel portion of their family legacy join the rest of the family-owned companies within RelaDyne. This acquisition will have no impact on Slidell Oil’s retail and wholesale fuel operations.

RelaDyne continues to be the “Acquirer of Choice” in the lubricants, fuel and reliability segments. “The purchase of the Lubricants and Commercial Fuel Divisions of Slidell Oil Company represents our seventh acquisition of 2016,” says Jeff Hart who leads RelaDyne’s M&A activities and is the company’s CSO. “We are continually looking to acquire leading businesses with great people and great customers; Slidell Oil is yet another great example of that. Our M&A team at RelaDyne is focused on adding new geography, new capabilities and more density within our current footprint as we continue to create a national distribution platform.”

RelaDyne Acquires Cardwell Distributing of Utah

RelaDyne announces it has acquired Cardwell Distributing (“Cardwell”) of Utah. Cardwell is a distributor of lubricants, fuels and diesel exhaust fluid (DEF) proudly serving the western United States since 1964. With locations spanning Colorado, Idaho, Nevada, Utah, and Wyoming, Cardwell provides products and services to over 3,000 customers in the region.

The acquisition of Cardwell represents RelaDyne’s first expansion west of the Rocky Mountains, and RelaDyne leadership is fully committed to supporting the Cardwell management team with industry expertise and resources to continue Cardwell’s expansion into greater geographies and markets. “Cardwell is a significant geographic expansion into the Western US for RelaDyne,” states Larry Stoddard, RelaDyne’s President and CEO. “Cardwell has a long history, a great team and a strong culture, which are all positive attributes as we expand our geography. We welcome the entire Cardwell team to the RelaDyne family of companies and are truly excited to partner with this talented group to significantly grow the business both organically and through acquisitions.”

Bill Rawson, Cardwell Distributing CEO, will continue his leadership over RelaDyne’s Cardwell locations and ensure a smooth transition for both employees and customers. “RelaDyne is a great fit for our customers, our employees, our vendors, our community and our desire to grow our business into the future,” states Rawson. “With RelaDyne as our new partner, we will have the resources needed to allow our great team of employees to continue to grow our business, our service offering and our geographic footprint. It is clear that the history and heritage of Cardwell, our values and the culture we have built over generations perfectly aligns with those of RelaDyne. Our team is extremely excited about the partnership and the opportunities that lie ahead.”

“RelaDyne continues to be the Acquirer of Choice as we build a national distribution platform for lubricants, fuel, DEF and reliability services,” says Jeff Hart, RelaDyne’s CSO leading the companies M&A activities. “We always strive to acquire leading businesses with great people and great customers, and Cardwell is an excellent example of a perfect fit. This acquisition provides a strong framework for us to expand our platform of products and services to an entirely new customer base plus opens a gateway for further acquisition opportunities to enhance our density in the region.”

Cardwell represents RelaDyne’s sixth acquisition of 2016 and the first in partnership with Audax Private Equity.

Audax Private Equity Buys RelaDyne

RelaDyne is excited to announce it has officially closed its transaction with Audax Private Equity (“Audax”), a private equity firm focused on building leading middle market companies. The transaction closed on July 22, 2016. Based in Boston, Massachusetts, Audax partners with management teams to transform established market leading companies into appreciably larger, better-positioned, and more valuable enterprises.

RelaDyne, with this new partnership, will be focused on aggressively growing through acquisitions and organically. RelaDyne will continue to be focused on growth in the Lubricant, Reliability Services, and Fuel businesses in alignment with its strategic vendors. The entire leadership and management team will remain with the organization through this change of ownership and will continue to invest in high quality associates through future acquisitions and new hires.

“RelaDyne and its team of 750+ associates are excited to partner with Audax,” states Larry Stoddard, President and CEO of RelaDyne. “We are very appreciative of the investment AEA Investors made into our infrastructure and growth that has allowed us to get to this point.”

RelaDyne was formed in 2010 by the combination of four industry-leading oil distributors and the financial backing of AEA Investors LP, a leading global private investment firm focused on private equity and debt investments in the middle market. Since its formation, RelaDyne has completed over 20 acquisitions and has grown to over 40 locations servicing customers in 45 states and 22 nations.

“We are proud of the business we have built over the last 6 years, but we are just getting started…,” says Jeff Hart, who leads RelaDyne’s M&A activities and is one of its founders. “With this new partnership with Audax, we’ll be able to significantly increase our M&A activities to continue our mission to become a national platform for the distribution of lubricants, fuel and reliability services.”

About Audax Private Equity

Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested over $3.5 billion in 98 platform and 494 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $10 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. For more information, visit the Audax Group website www.audaxgroup.com.

About AEA Investors LP

AEA Investors LP was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors (the “Participants”) include an extraordinary network of more than 75 of the world’s leading industrial families, business executives and former government leaders. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $10.0 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments.  AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer / retail and services.

RelaDyne Acquires Lubricants Division of Hollingsworth Oil Company

RelaDyne is proud to announce the recent acquisition of the lubricants division of Hollingsworth Oil Company (“HOCL”), a distributor of premium lubricants in Tennessee and Alabama. With HOCL locations in Nashville and Birmingham, this acquisition significantly expands RelaDyne’s geographic density and capabilities within Tennessee and Alabama.

Hollingsworth Oil Company purchased its Lubricants Division in 2007. In the past decade, the company has grown to become one of the region’s top distributors of quality lubricants due to its exceptional associates, customers, and high value of service. Now, this top-tier company is joining the RelaDyne family.

As one of the nation’s leading providers of lubricants, fuel, diesel exhaust fluid (DEF), and industrial reliability services, RelaDyne will be better able to fulfill the needs of its existing Tennessee and Alabama customers as well as provide new products and services to an expanded five-state area with HOCL’s market reach.

“First and foremost, we welcome all the Hollingsworth customers and associates into the RelaDyne family,” says Larry Stoddard, RelaDyne President and CEO. “We feel with high confidence that the greater Nashville and Birmingham marketplace presents an abundant growth opportunity for RelaDyne’s wide breadth of products and services. We are excited and committed to that community through this, our second acquisition in Tennessee and Alabama.” In November 2015, RelaDyne acquired Mid-State Industrial Services of Nashville, thus securing its place in the Mid-South region.

“RelaDyne is such a great fit for our people and our customers,” states Ronnie Hollingsworth, owner and President of Hollingsworth Oil Company (the parent company of Hollingsworth Lubricants). “Because of RelaDyne, we’ll be able to provide our associates with expanded opportunities, and our customers with new products and services we could not previously provide with our resources.” Ronnie, a first-generation family owner, is honored to have the lubricants portion of his family legacy join the rest of the family-owned companies within RelaDyne.

RelaDyne continues to be the “Acquirer of Choice” in the lubricants, fuel and reliability segments. “The Lubricants Division of Hollingsworth Oil Company represents our fifth acquisition of 2016,” says Jeff Hart, who leads RelaDyne’s M&A activities. “We are continually looking to acquire leading businesses with great people and great customers; HOCL is a fine example of that in the lubricant distribution segment. Our M&A team at RelaDyne is focused on adding new geography, new capabilities and more density within our current footprint as we continue to create a national distribution platform.”

RelaDyne Acquires U.S. Refueling of Philadelphia, PA

RelaDyne announced its acquisition of U.S. Refueling, a mid-Atlantic supplier of diesel fuels, propane, and diesel exhaust fluid (DEF).

Located in Philadelphia, Pennsylvania, U.S. Refueling is a single-source supplier of diesel fuel and commercial propane refueling services ranging from generator fueling, emergency fueling, and other commercial fueling services. As part of RelaDyne, U.S. Refueling will expand RelaDyne’s existing Reliability Services – RediFuel services, which emphasize value-added specialty fuel distribution, and will increase RelaDyne’s geographic coverage area to include Philadelphia, its suburbs, and the surrounding mid-Atlantic region.

“We elected to join forces with RelaDyne because they share our commitment to continue building our business and earning the business of our customers every day,” states Barry Gosin, owner of U.S. Refueling. “RelaDyne can provide us with the resources to continue our rapid growth.” Barry will continue to manage the U.S.  Refueling division as it joins the RelaDyne family of companies, focusing primarily on business development and coordination of commercial fueling growth with the newly acquired Automotive Service, Inc. located in the Pennsylvania market as well.

For RelaDyne, the acquisition of U.S. Refueling creates opportunities for commercial fuel expansion within RelaDyne’s current Northeast business and development of its lubricant sales within the existing U.S. Refueling customer base. “U.S. Refueling is a perfect fit to our Reliability Services division of fueling services known as RediFuel,” states Larry Stoddard, RelaDyne President and CEO. “We look forward to working together to provide enhanced logistics as well as additional products and services for all our customers and professional growth opportunities for our associates.”

Jeff Hart, Executive Vice President of Business Development for RelaDyne, commented on the acquisition, “As the fourth acquisition of 2016, U.S. Refueling allows us to efficiently expand our fueling services business into the East Coast and provide additional services to our existing RelaDyne customers in those areas as well as provide lubricants to U.S. Refueling customers in the near future.”

U.S. Refueling customers can continue to expect the same level of exceptional customer service from U.S. Refueling, along with additional products and services available soon from the RelaDyne acquisition.

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