Tri-County Petroleum Inc., a portfolio company of KRG Capital Partners, has acquired Loos & Dilworth Inc., a supplier of passenger car motor oils in the Philadelphia and Baltimore areas.
Tri-County Petroleum Inc. (“Tri-County”), a leading distributor of petroleum lubricant products, announced today that it has acquired Loos & Dilworth, Inc. and Loos & Dilworth Company, Inc. (collectively “Loos & Dilworth” or the “Company”) from its shareholders Rick Campbell and Gregg Draper.
Tri-County is focused on acquiring best-in-class lubricant distributors to expand its geographic footprint and service offering to customers. “Loos & Dilworth is a great addition to Tri-County with its experienced management team, its strategic locations near Philadelphia and Baltimore, its strong supplier relationships and its long-standing customer relationships,” said Robert Black, President of Tri-County Petroleum. “We are excited about the growth opportunities of our combined platform.”
Loos & Dilworth, a 116-year-old company, will provide Tri-County with a strong regional supplier of passenger car motor oils from leading suppliers throughout the combined company’s territory. In addition, Tri-County plans to service new commercial and industrial lubricant customers from Loos & Dilworth’s two facilities in Bristol, PA and Laurel, MD.
Rick Campbell, CEO of Loos & Dilworth, said, “The opportunity to partner with Tri-County will provide Loos & Dilworth with the capital and resources necessary to expand our operations and service offering as we continue to focus on providing great service to our customers and accelerating our growth.”
Mr. Campbell and Mr. Draper, General Manager of the Maryland operation, will continue in their current management roles and will become shareholders of Tri-County.
About Tri-County Petroleum:
Tri-County Petroleum is the leading lubricant distributor in the Mid-Atlantic region, serving a diverse set of over 2,500 customers engaged in diverse industrial, commercial and passenger vehicle applications. Tri-County provides its customers an extensive selection of bulk and “mini-bulk” lubricant products complemented by a full suite of packaged lubricant products. The Company’s services include customized on-site tank systems, filtration, expert oil analysis, application engineering expertise, and coolant program expertise. Tri-County Petroleum is actively pursuing organic growth as well as growth through acquisitions. Tri-County Petroleum is a platform company of KRG Capital Partners, a Denver-based private equity investment firm.