Tennessee-based Rogers Petroleum has announced the acquisition of the multifaceted Deloy L. Brown Petroleum, based in Crossville, Tenn.
The deal was comprised of three Exxon branded convenience stores and dealer supply accounts, an established commercial fuels and lubricants business, including a commercial bulk plant facility and card lock in Crossville, plus related equipment.
“This acquisition provides us with an important missing piece of the puzzle to strategically connect our growing central and east Tennessee operations,” said Chris Liposky, CEO of Rogers Petroleum. “We look forward to expanding the business throughout Deloy’s well established footprint, both north and south of Interstate 40, and delivering our high level of service and valued fueling programs that have successfully shaped our business over the years.”
Deloy L. Brown president and owner Rodney Brown will continue to own and operate his fuel transportation business, Desaix Transport, which will support Rogers with fuel delivery services to the subject accounts and beyond.
“It’s sometimes hard to believe that I’ve been working for this company since junior high school. I’m very proud and appreciative for the legacy that my father entrusted in me when I took over the business. We have enjoyed consistent growth and success during my tenure, but given the growing challenges our industry faces today, I came to realize that we couldn’t independently achieve the size and scale necessary for long term business relevance,” said Brown. “After implementing our divestiture plan, Rogers was clearly the best candidate for the future of our employees and customers, and this transaction has proven to be a true win-win outcome for everyone.”
PetroActive Real Estate Services provided exclusive confidential advisory services to Deloy L. Brown Petroleum. The transaction was managed by Mark Radosevich, the company’s president.
“Working for Rodney has been a true pleasure, and we’re delighted that we structured a deal that met his strategic goals, while allowing Rogers to achieve theirs. Navigating the complexities unique to commercial deals are not easy, and layering on a retail component makes the assignment even more challenging. Nothing makes the job easier than having two professional organizations engaged on both sides of the deal,” said Radosevich.
Founded in 1980, Rogers Petroleum has grown into a leading wholesale distributor of petroleum products throughout the Southeast including Tennessee, Kentucky, Georgia, North and South Carolina, Virginia, West Virginia and Florida. The company distributes a full range of branded and unbranded petroleum and related products, including biofuels and DEF to over 130 marinas, 300 convenience stores and 3,500 commercial and agricultural customers.
Deloy L. Brown Petroleum is a three generation family business headquartered in Crossville, Tenn. The company supplies petroleum products over a wide coverage area from Chattanooga to the south, north to the Kentucky state line and about 60 miles east and west of Crossville, Tenn.
PetroActive Services is a leader in confidential strategic business services for the wholesale petroleum industry.