Bobby Taylor Oil Co. Sells Fuel Assets

The deal with Parker Oil Co. marks the company's exit from the business.
Bobby Taylor Oil and Parker Oil logos

SOUTH HILL, Va. — Parker Oil Co. Inc. closed on its acquisition of assets from Bobby Taylor Oil Co. Inc. (BTOC) and T&S Transport Inc.

Founded by Bobby Taylor in 1963, BTOC is a supplier of retail propane, commercial refined fuels and racing gas to a diverse customer base of residential and commercial accounts throughout the state of North Carolina. 

During the company's first years of business, it sold fuel oil, kerosene and gasoline to locals with just one tank wagon. Seeking to further diversify its business lines, BTOC added propane and racing fuels to its product mix and further expanded its customer base throughout central North Carolina. 

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Following his father's retirement in the early 2000's, Johnny Taylor Jr. assumed the role of president of BTOC and continued to guide the company through the 21st century along with his brothers David and Mark. Today, the company operates two refined fuels and propane bulk plants in Fayetteville and Elizabethtown, N.C., and employs more than 30 associates.  

Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to BTOC, which included valuation advisory; marketing the business through a confidential, structured sale process; and negotiation of the transaction. The transaction was managed by Vice President John Duni, Downstream Energy and Convenience Retail Investment Banking Group co-head Spencer Cavalier, and analyst Jared de Perio.

"While Mr. Bobby Taylor laid the foundation, Johnny and his family built BTOC into one of the most reputable refined fuels and retail propane distributors in the industry, evidenced by their organic growth and customer retention rates," said Cavalier. "We were honored to serve as their advisor."

R. Williford McCauley of Williford McCauley, Attorney at Law, served as legal counsel to BTOC on the transaction.

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Founded in 1935 and based in South Hill, Parker Oil serves businesses and residences in southern Virginia and northeastern North Carolina with a range of energy-related products and services, including oil, propane, biodiesel and other petroleum products.

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