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Lubricants distributor PetroLiance LLC, Apex, NC, has been acquired by MSouth Equity Partners, Atlanta, GA. Terms of the transaction were not disclosed.
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The company will continue to operate under the PetroLiance name with the same management, according to Bart McLean, a partner with MSouth. "We view ourselves very much as investing partners alongside management," he says. "As such, apart from a partial ownership change, the company will continue to operate as it has been."
MSouth will look to expand PetroLiance through add-on acquisitions going forward. "That's part of what the opportunity is for us, and it's consistent with things we've done in the past," McLean says.
PetroLiance LLC was formed in July 2006 through the merger of four ExxonMobil distributors. It serves the Chicago, Ohio, North Carolina, South Carolina, Georgia, Central and South Florida markets.