RelaDyne Takes Ownership of New West Oil Co.

CINCINNATI — RelaDyne LLC closed on its acquisition of New West Oil Co. LLC.

New West was founded in 2011 by industry veterans Tim Genrich, CEO; Ron Reeves, president; Tom Turley, vice president, Commercial Sales; and Terry Cooney, chief financial officer. The company began as a Valvoline distributor, and over a nine-year period transformed from a start-up to a leading lubricant and commercial fuels provider in the Southwest. 

In 2013, Arizona-based New West formed an environmental division to collect used oil from customers that could be resold as burner fuel to asphalt and concrete companies.

The leadership team previously worked together at Canyon State Oil Co, according to Matrix Capital Markets Group Inc., which advised the company on the sale.

Today, New West is the exclusive distributor for Valvoline and Petro-Canada products in key metro areas of Arizona and Nevada. RelaDyne, a portfolio company of Audax Private Equity, is a provider of lubricants, fuels, diesel exhaust fluid, and reliability services for industrial, commercial, and automotive businesses.

"New West Oil has prospered remarkably over the past nine years and has grown to a company of over 100 employees. This is an incredible milestone for any business and is a testament to the outstanding team we have assembled," said Tim Genrich, CEO of New West. "To have the ability to meet our growth goals, we decided to partner with RelaDyne who will provide us and our loyal customers with access to many more products and services that we could never have acquired alone.

"We are not selling out, we are buying in, and this ownership change will assure the future of New West Oil as one of the premier lubricant, fuel, and environmental services providers in the United States," he added.

New West marks the first acquisition for Cincinnati-based RelaDyne into Arizona and Nevada.

"New West fits all aspects of the type of company we like to bring into the RelaDyne family," said Larry Stoddard, president and CEO of RelaDyne. "It has great people, great service, and aligns with our strategic growth initiatives. We are excited to welcome them to our family."

RelaDyne was formed in 2010 by the combination of four industry-leading companies and has since grown to more than 60 locations by strategically acquiring other industry leaders in the lubricant, fuel distribution, and industrial service segments.

"The acquisition of New West Oil is a continuation of our expansion strategy to the West Coast," stated David Schumacher, RelaDyne's vice president of business development. "We are continually looking to acquire leading businesses with great people and great customers — New West is no exception. The owners have built an incredible business on their and the company's reputation, integrity, strong relationships, and providing great service throughout their entire careers that span nearly 30 years. We are honored to build on that legacy."