ARCADIA, Fla. -- Rogers Petroleum Inc. has successfully concluded an acquisition of the western division of BV Oil Co. Inc. Rogers Petroleum is actively seeking acquisition opportunities in areas that are geographically compatible, it said.
The deal included an established commercial fuels and lubricants business; two commercial bulk plant facilities located in Arcadia and Wauchula, Fla.; a cardlock facility in Arcadia, and related equipment.
“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,” said Alex Varas, chairman and president of BV Oil, Doral, Fla.
The company is still looking forward to continued growth in the markets that it operates, it said.
“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, Morristown, Tenn.
BV Oil will continue to offer commercial fuel and lubricants distribution to customers throughout Southeast Florida from its bulk plant facility in Doral, a suburb of Miami.
PetroActive Real Estate Services LLC provided confidential advisory services to BV Oil. Mark Radosevich, the company’s president, managed the transaction.
“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. 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,” said Radosevich.
Cosme Varas founded BV Oil in 1983. It is aleading commercial fuels and lubricants wholesalers in South Florida and exports products to 15 countries. In addition to commercial fuels distribution, the company supplies a full slate of Amalie and Cam2 lubricants.
Founded in 1980, Rogers Petroleum has grown into a leading wholesale distributor of petroleum products throughout the Southeast including Tennessee, Kentucky, Georgia, North and South Carolina, Virginia, West Virginia and now Florida. It distributes a full range of petroleum and related products, including biofuels and diesel exhaust fluid (DEF). Services offered include wet-hose fleet fueling, tankwagon and transport deliveries, common carrier freight, and branded and unbranded supply to retail outlets. Industry segments served include retail convenience stores, municipal and government, industrial, commercial and off-highway construction. Rogers Petroleum is a branded distributor of ExxonMobil, Marathon and CITGO fuels.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.