Purchases Redding Oil Co.
Further advancing its previously-announced aggressive growth strategy, Flyers Energy LLC has acquired the commercial fueling, wholesale contracts and two convenience stores from Redding Oil Co., a fuel distributor based in Northern California.
Redding Oil will continue to own and operate its remaining retail stores, local bobtail fuel delivery trucks, and bulk lubricants division as they have since 1939.
“The fuel industry is evolving. We have built this company through three generations over the past 75 years, and are pleased to partner with Flyers Energy to take on the commercial products,” said Jack Reiser, CEO of Redding Oil. “As much as anything, our decision to sell this part of our business was largely driven by our commitment to always act in the best interest of our loyal customers,” Reiser continued. “With the technology, regulatory, and environmental landscapes evolving so quickly, it is very difficult for smaller operators like Redding Oil to provide competitive pricing and best-of-class service to our commercial accounts. By contrast, we believe that Flyers has the skills, resources, and scale to be an exceptional partner for our commercial customers now and into the future.”
Privately-owned Flyers Energy is already Northern California’s largest fuel distributor and is on an active campaign to expand their operations throughout the Western U.S. The company announced its asset acquisition of Allied Washoe Petroleum earlier this year, and is said to be in discussion with other fuel distributors in the region.
“By growing, we can increase our operating efficiency and better serve our customers,” said Rick Teske, CEO of Flyers Energy. “The Reiser family and their team have built a solid, well-respected business here in Northern California and we are pleased to be adding many of the Redding Oil employees to the Flyers team.”
Flyers Energy Director of Sales and Marketing Jay Galvin stated, “There are immediate advantages for our new commercial customers. Redding Oil customers will be able to use their commercial fuel cards across the country as we activate them on CFN (Commercial Fueling Network).”
Flyers is actively looking for additional acquisitions throughout California, Oregon, Washington, Idaho, Nevada, and Arizona. The company offers an attractive pricing model, flexible terms, enhanced service levels for many customers, and an attractive career path for most employees.
Parties interested in a confidential discussion are encouraged to call the company’s M&A advisor, DCA Partners, at (916) 960-5353.
