Mergers & Acquisitions

Quarles Petroleum Acquires Colonial Fuel Oil’s Distribution Business

Will consolidate Richmond and Mechanicsville operations

FREDERICKSBURG, Va. -- Quarles Petroleum Inc., a regional provider of residential and commercial fuel, has acquired the petroleum-distribution business of Colonial Fuel Oil, Mechanicsville, Va.

Fredericksburg, Va.-based Quarles currently operates distribution centers throughout Virginia and will consolidate its Richmond fuel-distribution operations at the Colonial Fuel Oil property in Mechanicsville.

“This acquisition supports Quarles' growth strategy of attaining quality businesses to increase market share in the delivery of heating products to residential and commercial customers,” said Quarles CEO Paul Giambra. “We look forward to providing Quarles' high level of quality customer service to the Colonial Fuel Oil account base.”

Colonial Fuel Oil has served customers in the Mechanicsville and greater Richmond area since 1949, the last 41 years under the stewardship of the Cassanos family, which has decided to retire from the business and exit the industry, according to its website.

“We looked at a number of possible companies to acquire the Colonial Fuel Oil business, and we selected Quarles as the best fit for our customers,” Colonial Fuel Oil President Art Cassanos said. “Like Colonial Fuel Oil, Quarles is a family-owned business that has served customers throughout the Virginia market since the 1940s. We believe they will continue to supply our customers with quality products and superior service.”

Quarles Petroleum is now in its seventh decade of operations serving customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania and North Carolina. It is a regional provider of residential propane and oil, commercial delivered fuels, fleet card sites and services and lubricants. Quarles Petroleum now serves 60 retail sites.

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