Hughes Hubbard helped PetroChoice acquire fellow lubricant distributor PetroLiance in the second acquisition steered by the firm in as many months.
PetroChoice announced the deal on Nov. 10. Terms of the transaction were not disclosed. PetroLiance, based in Apex, North Carolina, will expand Pennsylvania-based PetroChoice's coverage of the Midwest and Southeast markets.
"The benefits of bringing PetroLiance and PetroChoice together as a single company are readily apparent," said Shane O'Kelly, CEO of PetroChoice. "Our geographic markets are highly complementary; our cultures, values and missions are very much aligned and together we will have the expertise and capabilities to deliver comprehensive solutions to our customers on a scale that very few competitors can match."
The deal came on the heels of HHR's assisting PetroChoice in its acquisition of Tennessee-based lubricant distributor LubriCorp, which was announced on Oct. 1. HHR has also helped Greenbriar Equity Group-owned PetroChoice snap up a number of lubricant distributors in recent years, including Lorenz Lubricant Company, Suburban Oil and Craft Oil Corp.
PetroChoice is a leading provider of petroleum-based lubrication products and services in the Mid-Atlantic and Midwest regions. The company distributes an extensive product offering of lubricants, coolants, metalworking fluids, equipment, auto-lube and filtration systems and contamination-control devices. With the latest addition, PetroChoice now has 27 locations in 20 states.
Chuck Samuelson led the HHR team, which included David Schwartz, Steve Greene, Alex Anderson, Andy Braiterman, Sarah Downie, Christine Lamsvelt, Valerie Clark, Jennifer Graham, Carol Remy, Jillian Kane, Erin DeCecchis, Robyn Morris, David Gershel, Alexandra Bear, Helen Zhu and Celeste Pozo.