HARRIMAN, Tenn. -- After two years in semi-retirement, a former industry leader is back in the game following his purchase of the Harriman Oil Co. in Harriman, Tenn.
Patrick Copeland, the former president and COO of Florida's National Oil & Gas, which was sold in 2004, closed on the purchase of the small wholesaler/retailer this week. I did not really enjoy my semi-retired state and decided that this is the only business that I really knew. So I decided to get back into it as early as it was convenient, Copeland told CSP Daily News.
Harriman owns and operates four convenience stores and supplies Shell and CITGO gasolines to 39 sites in eastern Tennessee.
Copeland said he will keep the Harriman name because of its long tradition in the area, which began in 1936. It has a wonderful tradition and legacy with Shell Oil, Copeland said.
He added that the East Tennessee area also was a draw. This is a company with a great history, and Harriman, for us, is a great nucleus to serve the growing East Tennessee market, Copeland said. I just believe there's tremendous opportunity in eastern Tennessee. There's tremendous growth here.
He also plans some modest growth of his own. I'd like to continue to grow the relationship with Shell and CITGO and sell more gallons. And I thing a realistic short-term goal is to own and operate as many as 10 stores, he said. Our goal is not to be the biggest jobber, but the best.
The deal includes the retail properties and branded wholesale distribution business located throughout Eastern Tennessee from the Kentucky border south to almost Georgia.
Outgoing owner John Browder commented, Because of the professionalism and experience of all parties involved the sale was quickly concluded with a minimum of aggravation. We're satisfied that the new owners will carry on in the quality manner that our customers enjoyed when the operation was owned and operated first by my father and then under my watch.
The deal was facilitated by PetroProperties & Finance of Coral Gables, Fla. Business is easier when you have the combination of a willing seller and buyer who are both seasoned professionals, as was the case in this transaction, said Mark Radosevich, president of PetroProperties & Finance. We look forward to assisting the new company with its future growth plans and are thankful that we were able to make Mr. Browder's transition out of the oil business that much smoother.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.