Mergers & Acquisitions

Southeast Petro Enters South Carolina

SCV Oil exiting industry with this sale

COCOA, Fla., and WALTERBORO, S.C. — Southeast Petro Distributors Inc. has finalized the acquisition of the retail assets of SCV Oil LLC, Walterboro, S.C. The transaction included four company-operated CITGO- and Shell-branded convenience stores in Walterboro and Hampton, S.C., and a Dunkin' Donuts restaurant adjoining one of the Walterboro stores.

This acquisition provides a strategic foothold to support Southeast Petro’s growth plans in South Carolina and beyond, the company said.

“We are excited for this opportunity to enter the state of South Carolina and to now be able to deliver the quality business values that have fostered both our customers’ and our business success over the years,” said Summit Shah, vice president of operations for the Cocoa, Fla.-based company. “Our goal will be to shine from reflected light by providing our customers with services and support that will truly set us apart in the Carolinas.”

With this and the previous sale of its retail holdings in Tennessee and Virginia, and the divestiture of its commercial fuels and lubricants operation earlier in the year, SCV Oil has concluded its strategic industry exit plan. The company began operations in 2015 with the acquisition of Rhodes Oil Co. Inc., which included the Walterboro and Hampton stores that were conveyed to Southeast Petro in this transaction.

PetroActive Real Estate Services LLC, Coral Gables, Fla., provided advisory services to SCV Oil for both its strategic plan development and the business component divestitures.

Founded in 1980, Southeast Petro has grown to become one of the largest petroleum marketers in the Southeast, serving more than 400 retail customers in Florida, Georgia and Alabama.

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