Mansfield and Lube-Tech Acquire Yocum Oil Companies deeply integrate local operations with national supply and marketing
ST. PAUL, Minn., May 6, 2014 /PRNewswire-iReach/ -- Mansfield Energy Corporation and Lubrication Technologies, Incorporated announced today they have acquired the commercial fuels, lubricants, and solutions businesses of Yocum Oil. The acquisition was a coordinated effort between Mansfield and Lube-Tech with the commercial fuels business purchased by Mansfield and the lubricants and solutions business purchased by Lube-Tech. Lube-Tech will also provide fuel transportation and equipment service to Yocum Oil's fuel customers. Yocum's industry-leading fuel sales and marketing team, led by Tony Yocum, will join Mansfield, where Tony will serve as Director of Business Development. Tim Yocum will join Lube-Tech's board of directors, and Jon Yocum joins Lube-Tech as a Senior IT Project Manager.
Tim Yocum, CEO of Yocum Oil, commented, "We are excited to integrate our strengths with Mansfield's and Lube-Tech's excellence in automation, processes, and market leadership. This combination will fully integrate our companies with a more extensive and successful network and allow us to better serve our customers through an enhanced product offering and higher levels of service."
Yocum Oil's fuel business fits seamlessly into Mansfield's current fuel supply chain, and the integration into Mansfield's comprehensive fuel service, supply, and distribution network will enable them to broaden their service offering on a regional and national basis. "Our Great Lakes operation has been growing rapidly for the past five years and this was a great opportunity to accelerate that growth," said Joe Campbell, Mansfield SVP of Operations.
"From their Arsenal line of fuel additives to their innovative risk management and hedging programs, Yocum has long been a leader in the Minnesota fuels market. As importantly, the Yocum family and employees have long demonstrated the values, culture, and commitment to customer service that we know are required for sustainable success, and that provide a foundation for further business and professional growth," stated Michael Mansfield, CEO of Mansfield Energy Corp.
Combining Yocum Oil's lubricants and solutions businesses with Lube-Tech will result in an expanded product portfolio and a larger geographic footprint. Already a distributor of Mobil, Chevron, and CAT lubricants, Lube-Tech will continue to provide the same high-quality products and services that customers have come to expect. In addition, Lube-Tech will support Yocum Oil customers with custom-blended lubricants, chemicals, and recycling and equipment services. Eric Jackson, Lube-Tech COO said "We are excited to add further scale to our market-leading lubricants business and believe operating our fuel transportation assets in conjunction with Mansfield's national supply and marketing system will enable us to deliver increased customer value"
Chris Bame, CEO of Lube-Tech, commented, "We have tremendous respect for the Yocum family and how it has built its business by fostering an employee- and customer-centric culture. Like Yocum Oil, Lube-Tech is a family-owned company, and we share that same philosophy. At Lube-Tech, our mission is to continually help our customers accelerate performance while also enhancing our community and the lives of our employees"
Ranked as one of the Top 50 privately held companies in America by Forbes magazine, Mansfield defines the next generation transportation fuels company. Founded in 1957, the company has achieved double-digit growth for three decades by focusing on optimizing and controlling fuel-related costs for its customers using innovation, technology, and high touch service. Mansfield's corporate headquarters is located in Gainesville, GA, with regional operations centers located in Mark, Illinois, Detroit, Denver, Loma Linda, California, Houston, Calgary and renewable energy operations in Bloomington, MN. For more information, visit www.mansfieldoil.com.
Since 1925, Lube-Tech and its founding companies have demonstrated an employee-first, customer-focused approach. As the Midwest's go-to resource for advanced lubrication and energy solutions, Lube-Tech's mission is to help our customers accelerate their performance — from their engines and equipment to their bottom line — while continuously improving our employees' lives and our community. Lube-Tech serves transportation, automotive, industrial, and small engine customers in over 70 countries. Based in Golden Valley, Minnesota Lube-Tech has operations throughout the Midwest region, Shreveport Louisiana, and Langenthal Switzerland. For more information, visit www.lubetech.com.
About Yocum Oil Company, Inc.
Yocum Oil Company, Inc. is a leading independent marketer and supplier of fuel, lubricating oils, gasoline and associated services in the greater Upper Midwest. Yocum Oil serves its commercial and industrial customers through engaging how businesses can operate more efficiently through a comprehensive portfolio of petroleum products, services and solutions. For more information, please visit the company website at www.yocumoil.com.
Media Contact: Kristin Sanderson, Mansfield Energy Corporation, 678-450-2119, email@example.com
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SOURCE Mansfield Energy Corporation