DALLAS -- Titan Global Holdings Inc. has announced the management team that will lead Appalachian Oil Co. (Appco), the company's initial acquisition in the energy sector.
Among the key executives, Marty Anderson will be the president of the retail division, which operates Appco's 56 convenience store locations. And John Thomas III will be the president of the sales and marketing division, which generates volume through wholesale contracts to supply fuel to more than 160 dealer accounts in the Southeast.
Titan formed Titan Energy [image-nocss] Group, a division engaged in the acquisition and management of complementary energy sector assets. Concurrent with the formation of Titan Energy Group, the company announced the execution of a definitive purchase agreement to acquire 100% of the outstanding stock of Appco. This transaction is expected to close in September 2007.
Appco, formed in 1923 and based in Blountville, Tenn., is a leading petroleum company in the Southeast that owns and operates an extensive petroleum product distribution network that generated approximately $400 million in revenues for fiscal 2006. Appco distributes petroleum products to more than 160 dealers in the southeastern United States and owns and operates 56 convenience store locations. Appco has more than 550 employees and maintains longstanding partnerships with strategic terminal operators and major oil companies.
Anderson will be the president of retail, overseeing Appco's c-stores. He joined Appco as the director of marketing and was promoted to president of the retail division in July 2006. Anderson has more than 20 years experience in the c-store operations and retail fuel sales. He has served in growing positions of leadership in retail operations in the Midwest and the Atlantic Seaboard prior to joining Appco in 2000.
Thomas will be the president of sales and marketing, overseeing the wholesale contracts to supply fuel dealer accounts in the southeastern United States. He is a former petroleum distributor who has more than 30 years' experience in wholesale fuel distribution. His knowledge of the supply chain and the marketplace has driven Appco's growth in its wholesale operations, the company said. Thomas and his team sell petroleum products to independent operators, third-party c-store operators and wholesale accounts.
Appco's seasoned management team is the cornerstone of this transaction as we launch Titan Energy Group, said Bryan Chance, president and CEO of Titan Global Holdings, Dallas. This team's expertise in the distribution of essential energy products through retail and wholesale channels will provide tremendous knowledge and leadership to Titan as we implement our aggressive growth plans in the energy sector.
Other appointments include: Ernestine Clark will be senior vice president and Debra Manis will be vice president of finance. Clark and Manis will lead the administration division, which manages the accounting, human resources and other administrative functions for the company.
Clark has more than 40 years experience in the petroleum distribution market with Appco. Her expertise includes finance, accounting, inventory control, federal and state tax reporting and information systems. Clark led the information system initiative to implement the Factor System in Appco retail locations and works very closely with Appco's strategic terminal operators. Prior to serving as senior vice president, she was the vice president of finance and controller of Appco.
Manis has more then 22 years experience in the petroleum distribution market with Appco. Her experience includes accounting, finance and human resources. She was promoted to vice president of finance in 2005.
Click here for previous CSP Daily News coverage of Titan and Appco.
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