Home > News > PetroLiance® Acquired AV Lubricants
PetroLiance® Acquired AV Lubricants
(COLUMBUS, Ohio) -- PetroLiance , which was formed last year through the consolidation of four of the nation's largest ExxonMobil distributors, has completed its first acquisition. The company today announced it has purchased the assets of Columbus-based AV Lubricants Inc., effective Sept. 1, 2007.
A leading provider of lubricants to the aviation industry and to mining operations in Ohio, Kentucky and neighboring states, AV Lubricants is one of the most successful companies in its field. That's why it was instrumental to PetroLiance to acquire this innovative and rapidly growing company. The acquisition has expanded the PetroLiance® family.
The acquisition will benefit the customers and employees of both PetroLiance® and AV Lubricants, says PetroLiance CEO Kevin McCarter. "AV Lubricants is a strong, well-run company that is widely recognized for its excellent service and technical support," McCarter said. "Their expertise in several key specialized off-road lubricants markets will greatly benefit the PetroLiance® organization."
"We are delighted and enthusiastic to become part of the PetroLiance® team," adds George Morrison, AV Lubricants' founder and CEO. "PetroLiance's significant resources will benefit our customers and employees, while we will be able to contribute valuable technical expertise and other strengths to the organization. It truly is a synergistic combination."
Morrison will assume a leadership role in PetroLiance's sales and technical service. A published author with expertise in fuel, filtration and additives, he is recognized as a Certified Lubrication Specialist by the Society of Tribologists and Lubrication Engineers. AV Lubricants has also pioneered a number of marketing innovations including advances in the use of online ordering and support.
"George Morrison's personal expertise, and the strength of the entire AV Lubricants organization, made this an ideal company for our first acquisition," notes McCarter. "We are enthusiastic about the opportunity to support those strengths by applying the significant resources of the PetroLiance® organization."
PetroLiance® has major facilities in Columbus, Ohio the headquarters of AV Lubricants. It was an additional value-added benefit that further enhanced the synergy of the acquisition. "To complete our first acquisition so smoothly and successfully is very encouraging," McCarter adds, "It establishes a very positive model for future transactions."
|
