Palmdale Oil Expands Reach Through Acquisition of Tri-County Oil Distributors

In a strategic move aimed at strengthening its foothold in the Florida oil market, Palmdale Oil Company, a well-established provider of fuels, lubricants, and other chemical products, has announced its acquisition of Tri-County Oil Distributors. Based in Williston, Florida, Tri-County has been a staple in the regional fuel distribution industry, serving the North Central Florida community for nearly a century.

About the Acquisition

Palmdale Oil, which is headquartered in Palm Beach Gardens, Florida, has been operational since 1984 and has built a solid reputation throughout the state. The terms of the acquisition have not been disclosed, but the deal enhances Palmdale’s distribution capabilities, particularly in the greater Gainesville area.

Tri-County has long been known for its commitment to customer service and dependable distribution channels, providing fuel alongside cardlock fueling, packaged lubricants, and diesel exhaust fluid. The acquisition not only strengthens Palmdale’s existing operations but also significantly expands their customer base, allowing them to offer a wider array of products and services to Tri-County's existing clientele.

According to Lachlan Cheatham, CEO of Palmdale, this acquisition presents a great opportunity to capitalize on Tri-County's established reputation. He commented, “Tri-County has been an important part of the Williston community for generations, and Mike and his team have built a business with a loyal customer base and a strong reputation in the region. We see tremendous opportunity to build on what they have established, introduce additional products and services and grow our presence throughout North Central Florida.”

Customer Impact

The acquisition will not only maintain the existing local team at Tri-County but also provide their customers access to Palmdale’s expansive network of delivery services and products. This means that Tri-County's customers will benefit from a larger selection of fuels, lubricants, and chemicals, further enhancing the service they receive.

Mike Doerr, the President of Tri-County Oil Distributors, expressed confidence in the partnership, noting, “Tri-County has always taken pride in the relationships we've built with our customers and the communities we serve. As we considered the future of the business, we wanted a partner that would respect that history while helping us take the next step.” Under Palmdale’s umbrella, the iconic customer service that Tri-County is known for will remain intact, while also providing new opportunities for growth and expansion of services.

Future Opportunities

The integration of Tri-County Oil into the Palmdale Oil Company is anticipated to create significant operational synergy. With this acquisition, Palmdale Oil plans to explore novel avenues to enhance fuel distribution across North Central Florida, tapping into Tri-County's long-standing relationships with local businesses.

This step reflects a growing trend in the fuel industry, where consolidation is becoming increasingly common as companies seek to create economies of scale and expand their market presence. For Palmdale Oil, this acquisition aligns with their mission to offer comprehensive fuel solutions throughout Florida.

Legal guidance for this transaction was provided by Jones Walker LLP, while PCE Investment Bankers acted as the financial advisor to Tri-County.

As the fuel market evolves, Palmdale Oil’s acquisition of Tri-County Oil Distributors marks a significant milestone not just for the companies involved but also for the customers who stand to benefit from a wider array of services rooted in historical business practices and community engagement. The companies will work diligently in the coming months to ensure a smooth transition and continued exceptional service for all customers involved.

For further information about Palmdale Oil and its range of products and services, prospective customers can visit www.palmdaleoil.com.