RelaDyne announces acquisition of Parker Oil
RelaDyne, headquartered in Cincinnati, Ohio, U.S.A., an industry leading lubricant, fuel, and DEF distributor, announced the acquisition of Parker Oil Co., Inc., a family-owned lubricant distributor headquartered in Wichita, Kan., U.S.A.
For more than 75 years, Parker Oil has serviced automotive and commercial companies with quality lubricants, chemicals, and automotive products, building strong business-to-business relationships with its customers. As part of RelaDyne, Parker Oil will strategically expand RelaDyne’s geographic reach into northern Oklahoma, Kansas, and Missouri.
Jim Selenke will continue as general manager of the RelaDyne-Parker Oil locations.
“Parker Oil is very excited to become part of the RelaDyne family,” said Selenke. “We look forward to the opportunity to continue to provide our customers with the same level of products and services they have come to expect from us for more than 50 years. With this change, we are excited to be able to offer our loyal customers a more expanded line of products and services, which will be afforded to us as part of the RelaDyne team.”
“This acquisition is the result of our team’s continuous execution of our acquisition strategy. RelaDyne continues to be the partner of choice for many companies in the fuel, lubricant, and services business. This transaction is the first of many for 2016 as we continue to create a national platform,” said Jeff Hart, executive vice president of business development for RelaDyne.
“The Parker acquisition is a great way to start the New Year,” said Larry Stoddard, RelaDyne president and CEO.
RelaDyne was formed in 2010 by the combination of four industry leaders – Mid-Town Petroleum, Inc. in Bridgeview, Ill., Oil Distributing Company in Cincinnati, Ohio, The Hurt Company, Inc. in Houston, Texas and Pumpelly Oil Company in Sulphur, La. RelaDyne’s distribution platform spans more than 30 locations in the Central United States.
In May 2014, RelaDyne’s industrial services business expanded with the acquisition of Turbo Filtration Corporation (TFC), enhancing their offering to key industrial customers throughout the United States. The company also benefits from the support of its business-building financial partner, AEA Investors LP, which manages funds worth approximately USD 6 billion of invested and committed capital.
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