MFA Oil Co. has announced its acquisition of Lybarger Oil Inc., based in Garnett, Kan. The new acquisition will establish a substantial presence in the east-central Kansas market for MFA Oil.
“We are excited to welcome Lybarger Oil’s employees and customers to the MFA Oil family,” said Mark Fenner, MFA Oil president and CEO. “Both companies share a passion for providing excellent service and high-quality fuel and energy solutions to customers and MFA Oil is committed to continuing the tradition of excellence the customers of Lybarger Oil have come to expect.”
Lybarger Oil has been in business since 1955 and is a second generation, family-owned business. The purchase includes 10 propane plants, eight refined fuel plants, five unattended fueling locations and bulk and packaged lubricants business.
“We are constantly exploring opportunities to grow our business and this purchase greatly enhances our presence in Kansas,” said Don Smith, MFA Oil director of mergers and acquisitions. “We look forward to integrating the Lybarger Oil business into our operations. It is a great cultural and strategic fit for us.”
Lybarger Oil is MFA Oil’s first acquisition of its fiscal year, which began Sept. 1, 2015. The company previously announced the acquisitions of Cunningham Propane of West Helena, Ark.; Faughn Oil Company of Campbell, Mo.; Alexander Propane of Sullivan, Mo.; Brown Propane Gas Inc. of Neosho, Mo.; All Propane of Murfreesboro, Tenn.; Home Service Oil of Poplar Bluff, Mo.; New Hampton Propane of New Hampton, Mo.; Georgia LP Gas Co. of Manchester, Ga.; PB’s Propane of West Plains, Mo.; and Basin Propane Systems of Vernal, Utah.
MFA Oil plans to continue evaluating acquisition opportunities in its existing market area and other states where it can expand its footprint.