ACT Capital Advisors Announces the Strategic Acquisition of Anderes Oil, Inc. by Crowley Petroleum Distribution Group, LLC
Seattle, WA (PRWEB) November 13, 2013 -- ACT Capital Advisors, LLC announced today that Anderes Oil, Inc. has been acquired by Crowley Petroleum Distribution LLC. Anderes is a provider of aviation, heating, fuel and lubricant oils for Ketchikan, Alaska and surrounding areas. Anderes Oil has provided petroleum distribution services to Ketchikan for nearly half a century.
The change in ownership will do little to disrupt the core operations of Anderes. Crowley and Anderes share similar cultures and the 20 Anderes employees have been welcomed into the Crowley team with open arms. “Our goal is a seamless transition and supporting the fine employees of Anderes Oil going forward,” said Bob Cox, Crowley vice president.
As a family-owned and operated business, Anderes Oil has worked with individuals and local businesses in southeast Alaska for nearly 50 years. The business has deep roots in southeast Alaska and will continue its tradition for years to come.
“This is our first venture in the southeast Alaska market and we are very excited to be expanding into this region. I am confident that we will be successful in integrating this business into the Crowley family while continuing the tradition of great service to the community of Ketchikan,” said Rocky Smith, senior vice president and general manager of Crowley.
Anderes Oil founders sought to exit the business as part of a defined retirement plan. “We ultimately helped the owners to sell the company in a strategic way to the right, most fitting buyer at the most opportune time,” said Robert Hild, managing director of ACT. “We offer our sincerest congratulations to the entire Anderes team who’ve spent the better part of five decades building a business they could be proud of selling.”
About ACT Capital Advisors, LLC
ACT Capital Advisors, LLC advises companies on capital transactions including both buy and sell-side engagements in mergers, acquisitions and recapitalizations. For over 25 years, ACT has provided strategic expertise to a number of key markets including construction, manufacturing, aerospace, oil distribution, financial services and technology. The principals have helped long-standing business owners unlock over $1 billion in transaction volume. ACT has offices in Seattle, Portland, Phoenix and New York. For more information, please visit http://actcapitaladvisors.com/
Nate Nead, Nead, LLC, http://nead.co/, 8888800857, [email protected]
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