JF Petroleum Group, a portfolio company of MidOcean Partners, has acquired Plant City, Florida-based Dykstra Construction, a contractor specializing in commercial and convenience store construction and petroleum equipment installation and repair. No financial terms were disclosed.
PRESS RELEASE
MORRISVILLE, N.C.–(BUSINESS WIRE)–The JF Petroleum Group, a MidOcean Partners portfolio company and the premier provider of fueling system solutions in North America, announced today that it has acquired Dykstra Construction. Headquartered in Plant City, Florida, Dykstra Construction is a commercially certified, multi-industry contractor specializing in commercial and convenience store construction and petroleum equipment installation and repair. The acquisition of Dykstra Construction will strengthen The JF Petroleum Group’s Southeast Region’s market leadership position in the petroleum equipment industry and enhance its ability to serve customers by adding additional turnkey services to its retail and commercial construction offerings.
Keith Shadrick, CEO of The JF Petroleum Group, stated, “Given the growing demand for construction services throughout our Southeast and Gulf Coast Regions, this acquisition will significantly enhance our ability to provide best in class turnkey construction solutions to our customers. We will also enhance the offerings and capabilities that Dykstra Construction has today through organic growth and additional bolt-on acquisitions, delivering a greater value proposition to their existing client base. Dykstra Construction is widely recognized in the state of Florida for its exceptional quality, expertise in fuel system design and installation, general contracting and their additional wide range of service offerings that are in high demand. We are proud to welcome Darry Dykstra and the employees of Dykstra Construction to The JF Petroleum Group family!”
“I look forward to continued growth in our industry, as well as the opportunity to work with The JF Petroleum Group to branch out into new sectors offering clients a truly turnkey experience. This is a great environment for employees of Dykstra Construction to thrive.” said Darry Dykstra, founder of Dykstra Construction. “The JF Petroleum Group is a great fit for us moving forward given our trusting relationship and shared values.”
Barrett Gilmer, Managing Director at MidOcean Partners, stated, “The acquisition of Dykstra Construction is yet another demonstration of our commitment to building the North American petroleum equipment industry’s leading solution provider in The JF Petroleum Group. Additionally, this acquisition expands the robust service offering we offer today in one of the nation’s leading high growth market areas.”
About JF Petroleum Group
The JF Petroleum Group (formerly Jones & Frank) is a leading provider of turn-key distribution, construction and service solutions to the North American fueling infrastructure industry. The company serves retail fueling stations, commercial and government fleets, and emergency power customers through its network of 40 branch offices, 4 distribution centers and over 1,200 employees located across the United States. The JF Petroleum Group represents the premier products in the fueling infrastructure marketplace, including Gilbarco Veeder-Root, VeriFone, OPW, Franklin Fueling and Containment Solutions. To learn more, visit www.jfpetrogroup.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.
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