PetroChoice Announces Acquisition of Superior Petroleum
PetroChoice, one of the leading providers of lubrication solutions in the USA, announces the acquisition of Superior Petroleum based in Crown Point, IN.
FORT WASHINGTON, Pa., May 21, 2019 /PRNewswire/ -- Superior Petroleum has been a recognized distributor of high-quality Mobil™ lubricants to the automotive and manufacturing industries in Northwest Indiana and the Chicagoland area since 1921. Superior's company mission, market services and lubricant programs fall in line with the current PetroChoice commitment to distribution excellence.
With the acquisition of Superior, PetroChoice will add support to their current Chicago distribution efforts with ExxonMobil, and expand their operations into Northern Indiana.
"Superior has always focused on the philosophy of 'When One Succeeds, We All Succeed," said Mark Schweitzer, President and CEO of Superior Petroleum. "Being a Mobil distributor for over 30 years, we are excited to become part of a robust national distributor and offer increasingly more investment that benefits our customers."
Celeste Mastin, CEO of PetroChoice stated, "I'm delighted that Mark Schweitzer and many accomplished employees at Superior have joined PetroChoice. We are especially appreciative of the long history of operational excellence Mark brings to the PetroChoice OneTeam. Over the last year we have transformed our sales organization and improved our delivery performance to better serve our customers. Superior represents the first of many acquisitions we intend to add to our stronger, more efficient, and customer-focused business platform."
"ExxonMobil is fortunate to be represented by the finest independent lubricants distributors in North America and throughout the world," said Nathaniel Hedman, Sales Manager for ExxonMobil's North America Marketing Business Unit. "We are pleased to continue our legacy of providing a rewarding Mobil™ brand experience, and in this case, with PetroChoice and the fine people of Superior Petroleum."
RGMichael & Associates and Evans & Associates acted as advisors to Superior Petroleum on its sale to PetroChoice.
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, is owned by Golden Gate Capital and headquartered in Fort Washington, Pennsylvania, operates locations across the U.S. and employs some of the nation's most knowledgeable technical experts in lubrication services and equipment. For more information please visit PetroChoice.com.
About 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.
SOURCE PetroChoice
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