Pops Mart Fuels has completed the acquisition of two travel centers, the wholesale fuel, transportation business and dealer business from Scully Oil — growing its footprint into Wisconsin.
Family owned and operated since 1932, Scully Oil was a third generation commercial and residential fuel supplier. For over 91 years, Scully Oil has supplied an assortment of petroleum products to homes, farms, convenience stores and industrial facilities.
Jeff Scully, president of Scully Oil, has been involved with the business since childhood, and said he had enjoyed all the opportunities from driving the trucks and delivering the fuel and petroleum products to building and operating the travel centers. However, with no one in the family interested in continuing to be involved in the transportation of fuel and travel centers, the timing was right to step away and pursue other interests.
American Business Brokers & Advisors provided merger and acquisition advisory services to Scully Oil and Pops Mart Fuels, which included valuation advisory, marketing the business through a confidential process and negotiation of the transaction. The transaction was managed by Terry Monroe, president.
“American Business Brokers & Advisors demonstrated an extraordinary understanding of the convenience store, fuel distribution and dealer business,” said Jeff Scully. “They were patient, diplomatic, intelligent and trustworthy. It’s not easy handing the keys to a multigenerational family business to just anyone. My sincere thanks to Terry Monroe on a job well executed from start to finish.”
Pops Mart Fuels operates over 45 stores in the South Carolina and North Carolina markets and is excited to be involved with the addition of Scully Oil and the opportunity to do business in Wisconsin, stated Don Draughon, president, Pops Mart Fuels.