MIAMI —EzFill Holdings, which specializes in on-demand mobile fueling, signed an agreement to acquire the assets of mobile fuel delivery service Full Service Fueling Inc. (FULL).
EzFill will acquire the trucks, customers and other assets of West Palm Beach, Fla.-based FULL, an affiliate of Palmdale Oil Co. As part of the agreement, Palmdale will serve as a main supplier of EzFill throughout Florida, with preferred pricing on all fuel purchases, according to the company.
The agreement will allow Miami-based EzFill to expand its operations beyond the Miami area and into other cities throughout Florida, starting in March with Tampa and West Palm Beach.
EzFill, which closed its initial public offering (IPO) in September, has been using the net proceeds in part to gain additional market share in Florida and other targeted U.S. markets. EzFill recently purchased 33 fuel trucks, more than tripling the size of its delivery fleet.
“EzFill’s first post-IPO acquisition will demonstrate our ability to execute upon the company’s stated mission of providing customers throughout Florida and beyond with its industry-leading mobile fuel delivery services,” said Mike McConnell, CEO of EzFill.
Kendall Cheatham, vice president of Palmdale and founding President of FULL, said the company’s more than 35 years of experience in the market combined with EzFills strong management team will lead to success.
“We have helped pioneer on-demand fueling in Florida, and we are very optimistic about the future of the industry. We look forward to working with EzFill to support their rapid growth within this industry,” Cheatham said.
Closing of the acquisition is subject to customary conditions.
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