Fourth Deal in 18 Months for U.S. Oil
Published in CSP Daily News
U.S. Venture's energy division acquires Ill.-based wholesaler Combined Oil
APPLETON, Wis. -- In its fourth acquisition in the past 18 months, U.S. Oil, the petroleum and renewable energy distribution division of U.S. Venture Inc., has acquired Combined Oil, a branded wholesale fuel supply business that supplies more than 160 convenience stores throughout southern Wisconsin, Illinois, Indiana and Kentucky.
Formed in 2003, Lincolnshire, Ill.-based Combined Oil is a reseller and distributor of petroleum products in the Midwest.
As reported in a Raymond James/CSP Daily News Flash, the company provides services for a variety of major oil brands including Marathon, Mobil, BP, Clark and Shell.
"We're excited about this new acquisition as we continue to solidify and expand U.S. Oil's Midwest operations," said Steve Quinette, vice president of branded sales for U.S. Oil. "We continually look for growth opportunities and adding Combined Oil accelerates our expansion efforts and provides a greater foundation for our market development in the Midwest and Mid-Atlantic states."
Combined Oil principal Mac Bhambra said, "We've created a successful company that built a strong reputation for providing quality services to our clients. I'm proud to have U.S. Oil take ownership of the business going forward. They have an excellent reputation and will continue to build upon the great products and services Combined Oil's clients have come to expect. This is truly a great opportunity for all involved."
This is the fourth company to become part of U.S. Oil within the past 18 months. In March 2013, U.S. Oil added SEE USA, which supplied portions of Indiana and Illinois; in May 2012, the firm added Trueblood Oil Co., which supplied services to Indiana; earlier in 2012, U.S. Oil added Draeger Oil, with sites in Wisconsin and Michigan.
"We've seamlessly integrated these acquisitions into U.S. Oil and we're continually seeking new opportunities that will help us broaden our reach and accelerate our growth strategies," said Quinette.
Appleton, Wis.-based U.S. Venture is a leading energy and transportation products distributor and marketer. An independent, family-owned business, it operates in the Midwest through several divisions: U.S. Oil (bulk storage terminals, wholesale and branded distribution of petroleum products, multiple-brand c-store jobbership and gas station-related real estate; it also owns and markets GAIN compressed natural gas); Express Convenience Stores (19 locations throughout Wisconsin); U.S. AutoForce (tires and automotive parts); U.S. Lubricants; U.S. Petroleum Equipment; Design Air (heating, ventilation and air conditioning wholesaler); and Custom Manufacturing (manufacturing and supplying metal tubing for the automotive, furniture and lawn and garden industries).