As noted in Jobbers World last week when the deal
closed, Maxum Acquired Paulson Oil (POCO). And as
promised, more deals would come. Well here it is...
Founded in 1956 by Robert J. Paulson and based
approximately 40 miles southeast of Chicago in
Chesterton, Indiana, Paulson is a leading supplier
of motor fuels and lubricants to commercial and
industrial customers in the greater Chicago and
Northern Indiana areas, with sales of over $200
million annually. The acquisition of Paulson expands
Maxum's existing operations in the Midwest with a
leading, well-respected distributor, and Paulson's
fuel and lubricants business complements the
existing Chicago area fuel operations of Maxum's
Hartney Fuel Oil subsidiary. The entire management
team of Paulson, including second generation
executives Bob Paulson and Pete Paulson, will
continue in their current roles as part of the
expanded Maxum organization.
"We are very excited for the Paulson team to join
Maxum Petroleum", said Perot Bissell, Maxum
Petroleum's CEO. "Paulson has a great reputation of
service and capabilities in fuels, lubricants and
related services. We believe those offerings
together with Paulson's fuel additives line will
make for a great addition to our existing strong
presence in the Midwest".
"We are pleased that Paulson Oil is now part of
Maxum", noted Bob Paulson, President of Paulson Oil.
"My brother Pete and I believe joining an industry
leader like Maxum provides our employees and
management team with more resources to serve our
customers and continue to grow the Company far into
the future."
Maxum Petroleum, Inc., based in Old Greenwich, CT,
is a leading independent energy logistics company
that markets and distributes a comprehensive
offering of refined petroleum products and services
to commercial and industrial customers. Maxum is
continuing a strategic growth and acquisition plan
in the fragmented commercial fuel and lubricant
distribution industry, launched in 2004 by three
leading private equity firms, Northwest Capital
Appreciation, Inc., Waud Capital, LLC, and RBC
Capital Partners (through Cadent Energy Partners).
To date, Maxum has completed 11 acquisitions of fuel
and lubricant marketers and facilities, including
Simons Petroleum, Trevco, Hartney, Pecos (including
its General Petroleum and Rainier Petroleum
subsidiaries), Canyon State Oil, Petroleum Products
and Paulson Oil.
