RelaDyne announces acquisition of Conservancy Oil Group
RelaDyne, a leading provider of lubricants, fuel, diesel exhaust fluid (DEF) and industrial reliability services in the United States, continues to expand, with the announcement of its first acquisition for 2018. Last year, the company acquired three companies, including Western Marketing, Inc., Hager Oil Company and Sensmeier Oil Company.
RelaDyne said it has acquired Conservancy Oil Group, a leading regional distributor of lubricants, DEF and related products based in New Mexico. This acquisition extends RelaDyne’s geographical footprint into the southwestern part of the United States.
Founded in 1936, Conservancy Oil Group is the premier supplier of lubricants, coolants, DEF and chemicals in the Southwest. With four locations spanning New Mexico and Colorado, Conservancy Oil serves the automotive, commercial and industrial markets.
“Our partnership with RelaDyne marks a new and exciting era for Conservancy Oil,” said John Mayer, CEO of Conservancy Oil Group. “We are thrilled to partner with such a well-established company whose culture and values align so well with the foundation of Conservancy Oil. The infrastructure and capital that RelaDyne has to offer our team and our valued customers will greatly enhance the product offering and levels of service we can provide. We feel fortunate to be part of a company that is changing the landscape of lubricant distribution. Our combined strengths in the New Mexico and Colorado markets will allow us to accelerate our growth plans while providing more opportunities for our wonderful team and loyal customers.”
“The closing of the Conservancy Oil Group acquisition is the result of our substantial efforts to grow our existing footprint to include Southwest United States,” said Larry Stoddard, RelaDyne president and CEO. “With the existing capabilities of Conservancy Oil Group and the resources RelaDyne can provide, I am very confident in the future. We welcome the Conservancy Oil team to RelaDyne!”
RelaDyne continues to be the “acquirer of choice” in the lubricants, fuel, and reliability segments, according to Jeff Hart, RelaDyne’s chief strategy officer (CSO). “The acquisition of Conservancy Oil Group is the first of many in 2018 for RelaDyne. We are continually looking to acquire leading businesses with great people and great customers – Conservancy Oil Group and their stellar reputation is truly a perfect example of this. RelaDyne has made significant investments in acquiring great companies and in our ability to integrate and grow these companies once they join RelaDyne. This dedication to integration and growth at RelaDyne has allowed us to accelerate our acquisition pace as we continue to create a national distribution platform.”
Conservancy Oil Group is a leading, multi-branded lubricant distributor serving customers across New Mexico, Colorado and southern Utah. With a portfolio of products to serve the automotive, commercial and industrial markets, Conservancy is a well-established marketer in the Southwest region.
RelaDyne was formed in 2010 by the combination of four industry-leading oil distributors and the financial backing of AEA Investors LP, a leading global private investment firm focused on private equity and debt investments in the middle market. In 2016, it was acquired by Audax Private Equity, a private equity firm focused on building leading middle-market companies, based in Boston, Mass. Reladyne’s focus is on adding “new geography, new capabilities and more density within our current footprint as we continue to create a national distribution platform,” according to Hart.
