Quarles Petroleum to Acquire Hartfield-Based Revere Gas
Quarles Petroleum (Fredericksburg, Va.), a regional provider of residential and commercial fuel, has signed a purchase agreement to acquire Revere Gas, a third-generation, family-owned retail propane distribu- tor based in Hartfield, Va. Details of the transaction were not released. The deal is expected to close by the end of this year. “The Revere Gas delivery area complements our existing delivery territory in central Virginia and expands our presence in eastern Virginia,” said Paul Giambra, Quarles Petroleum CEO. “As family-owned businesses our companies share the same core values of providing superior service to our customers and giving back to the communities we serve. We look forward to welcoming Revere customers to Quarles and pledge to deliver the same high caliber of customer service they’ve come to…
Quarles Petroleum (Fredericksburg, Va.), a regional provider of residential and commercial fuel, has signed a purchase agreement to acquire Revere Gas, a third-generation, family-owned retail propane distribu- tor based in Hartfield, Va. Details of the transaction were not released. The deal is expected to close by the end of this year.
“The Revere Gas delivery area complements our existing delivery territory in central Virginia and expands our presence in eastern Virginia,” said Paul Giambra, Quarles Petroleum CEO. “As family-owned businesses our companies share the same core values of providing superior service to our customers and giving back to the communities we serve. We look forward to welcoming Revere customers to Quarles and pledge to deliver the same high caliber of customer service they’ve come to expect.”
One of the largest retail propane distributors in Virginia, Revere Gas was established in 1942 by H.L. Revere to meet the increased demand for locally provided clean energy. The company serves more than 25,000 residential, commercial, agricultural, industrial, and gov- ernment customers from field offices in Burgess, Fred- ericksburg, Gloucester, Hartfield, Oilville/Richmond, Providence Forge, Warsaw, and Williamsburg, and from a rail terminal in West Point, Va. The Revere family will retain ownership of the company’s Hartfield headquar- ters building to support other business ventures.
“Our customers and team members will be in great hands,” said Carlton Revere, president and CEO of Revere Gas. “We have been pleased as our business has grown and thrived over three generations based on pro- viding our customers great service at a competitive price. I am pleased that we are able to transition our customers to a company that shares our values and commitment.”
Established in 1940 as a one-truck oil company in Warrenton, Va., Quarles Petroleum is a regional pro- vider of residential propane and oil, commercial deliv- ered fuels, fleet card sites and services, and lubricants.
The family-owned firm serves customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania, and North Carolina. The company is seeking opportunities to accelerate its growth through strategic acquisitions.
(SOURCE:
The Weekly Propane Newsletter, December 17, 2018)
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