Southern South Carolina-based SCV Oil LLC has acquired five convenience stores located in Western Virginia and northeastern Tennessee from various related entities of Sunshine Fuel LLC of Florida.
This is SCV Oil’s second acquisition this year, greatly expanding the company’s geographic reach to now encompass a wide area of the Southeast. The newly-acquired stores will be rebranded to CITGO.
“After completing the Rhodes Oil acquisition earlier this year, we were able to gain an established platform from which to properly manage our growth. This new acquisition in Virginia and Tennessee allows us to expand both our relationship with CITGO and our business footprint in the Southeast,” stated Daniel Rafael, founder, SCV Oil.
“With the added critical mass that these stores provide, we are confident that new growth opportunities will arise that we can take advantage of in the near future,” he added.
PetroActive Real Estate Services LLC provided advisory guidance for this transaction.
“Having assisted SCV Oil with its first acquisition this past February, rarely do we have the pleasure of helping a company make a second successful transaction in the same year. This is a testament to SCV’s commitment to acting decisively when opportunities arise that fit their strategic growth plan,” stated Mark Radosevich, president of PetroActive Services.
PetroActive Real Estate Services exclusively serves the wholesale petroleum industry offering confidential strategic business including: mergers & acquisition representation, growth financing coordination and strategic business analysis. Company president, Mark Radosevich possesses over 35 years of diverse downstream petroleum business experience and is personally involved with all assignments.