Monday, March 17, 2014
Crystal Flash (Grand Rapids, Mich.) has acquired Owens Petroleum Inc. and Owens Propane Service Inc. of Albion, Mich. The transaction will add two new locations, including two Pacific Pride fuel stations, to the Crystal Flash energy distribution company. Joe Owens launched the business as a Standard Oil agent in 1968, later incorporating to become Owens-Raymond Oil Co. He changed the name to Owens Petroleum in the 1980s, and ran the company until he sold it to his daughter, Shelley Purucker, and her husband, Randy, in 1994.
Owens brings about 400 new commercial fuel customers and 800 residential home-heating customers in Michigan and northern Indiana to Crystal Flash. The acquisition is the company’s seventh in the past two years. Crystal Flash now has more than 230 employees at 16 locations across Michigan. Family-owned for nearly 50 years, the Owens companies provide petroleum, tank wagon deliveries, and bulk oils to commercial customers, as well as propane and fueloil for residential customers. Owens also offers lubricants.
“We are very pleased to once again expand our Michigan footprint with the addition of Owens Petroleum and Owens Propane,” said Crystal Flash president Tom Fehsenfeld. “Like Crystal Flash, the Owens companies are multigenerational, family-owned businesses that take pride in delivering quality products and services, which make them an excellent fit.
“In addition to strengthening our customer base in Michigan, this acquisition allows us to move into northern Indiana. We continue to evaluate opportunities for growth throughout the Midwest, and look forward to additional acquisition announcements in the months ahead.”
Owens brings about 400 new commercial fuel customers and 800 residential home-heating customers in Michigan and northern Indiana to Crystal Flash. The acquisition is the company’s seventh in the past two years. Crystal Flash now has more than 230 employees at 16 locations across Michigan. Family-owned for nearly 50 years, the Owens companies provide petroleum, tank wagon deliveries, and bulk oils to commercial customers, as well as propane and fueloil for residential customers. Owens also offers lubricants.
“We are very pleased to once again expand our Michigan footprint with the addition of Owens Petroleum and Owens Propane,” said Crystal Flash president Tom Fehsenfeld. “Like Crystal Flash, the Owens companies are multigenerational, family-owned businesses that take pride in delivering quality products and services, which make them an excellent fit.
“In addition to strengthening our customer base in Michigan, this acquisition allows us to move into northern Indiana. We continue to evaluate opportunities for growth throughout the Midwest, and look forward to additional acquisition announcements in the months ahead.”
