MORRISTOWN, Tenn. — Rogers Petroleum Inc. completed its acquisition of the western division of BV Oil Co. Inc. The transaction includes an established commercial fuels and lubricants business; two commercial bulk plant facilities located in Arcadia, Fla., and Wauchula, Fla.; a card lock facility in Arcadia; and related equipment. Terms of the deal were not disclosed.
“This acquisition provided us with a unique opportunity to strategically expand our commercial fuels business beyond our tradition areas of operation. We look forward to growing the business throughout the Southeast and delivering our high level of service and valued fueling programs that have helped to successfully shape our business over the years,” said Chris Liposky, CEO of Rogers Petroleum.
Doral, Fla.-based BV Oil will continue to offer commercial fuel and lubricants distribution to customers throughout Southeast Florida.
“After developing our strategic plan and assessing our core competencies, it was decided that the divestiture of our western division would better position BV for long-term business success. Rogers’ desire to enter the Florida market aligned marvelously with our exit plan,” stated Alex Varas, chairman and president of BV Oil.
PetroActive Real Estate Services LLC provided confidential advisory services to BV Oil. “Of the many deals that my firm has coordinated over the past years, this transaction is unique in that we were able to match a growth strategy with an exit strategy to deliver a true synergistic outcome for both companies,” said PetroActive President Mark Radosevich. “Navigating the complexities unique to commercial deals are not easy and success is sometimes elusive compared to convenience store transactions. It’s always satisfying when the planets align and two fine companies are able to walk away from the table enjoying a win-win result.”
BV Oil remains a commercial fuels and lubricants wholesaler in southern Florida. It also exports products to 15 countries.
Morristown-based Rogers Petroleum is a wholesale distributor of petroleum products throughout the southeastern United States, including Tennessee, Kentucky, Georgia, North Carolina, South Carolina and now Florida.