Mergers & Acquisitions

Flyers Energy completes fourth acquisition in two years

https://www.fuelsandlubes.com/forecast-for-global-bright-stock-prices-unusually-firm/

Flyers Energy, LLC, a family-owned business, based in Auburn, Calif., U.S.A., has completed the acquisition of another family-owned business, southern California lubricants and fuel distributor SKS Oil, its fourth acquisition in two years.

The SKS acquisition allows Flyers to expand its lubricants business throughout the Los Angeles and San Diego regions.

SKS Oil was founded in 1965 by Eric Kroesche. Son John Kroesche and son-in-law Andy Thweatt will join Flyers Energy as business development manager and Southern California operations manager, respectively.

SKS Co-President Andrew Thweatt cited an industry-wide trend in the U.S. of companies merging with larger jobbers in order to take advantage of bigger supply contracts and to better navigate the evolving U.S. regulatory and environmental landscape.

“We believe that this is the right time for such an arrangement and that Flyers Energy is the right company to continue our 50-year tradition of excellent service and customer care,” he said.

Flyers Energy said it is actively looking for additional acquisitions throughout the U.S. western states.

Beginning Nov. 1, Flyers Energy took over bulk fuel, DEF delivery and lubricant operations at SKS bulk plants in San Diego, Escondido and Anaheim, as well as all 13 commercial fueling “cardlock” sites.

“We anticipate a seamless transition for existing SKS customers,” said Flyers Energy CEO Rick Teske.

Flyers Energy’s operations include transportation, distribution of passenger car, heavy-duty, and industrial lubricants, wholesale and branded retail fuel, as well as generation of renewable fuels and power in the United States. The largest member of the Commercial Fueling Network, Flyers Energy is also the marketer for more than 100 Chevron, Shell, Valero, and 76 branded fuel stations, and offers commercial fueling at 230,000 retail gas stations nationwide with the Flyers Fleet Card.

Flyers Energy was formed in 1979 by four brothers: Tom, Walt, Steve and David Dwelle. Originally the company was named Nella (Allen spelt backwards) Oil Co. after their grandfather, Walter Allen, who founded Beacon Oil Co. in 1931. Nella Oil changed its name to Flyers Energy in 2011 to align with its Flyers brand, as well as  to reflect its expansion into alternative energy sectors. Flyers Energy is a partner in Calgren’s Ethanol Plant and Pacific Power solar management.

Demo 870×90

You may also like