MILWAUKEE (June 21, 2018) – Grace Matthews, Inc. and Jacobus Energy, Inc. (“Jacobus”) are pleased to announce the sale of the automated fueling stations business of Quick Fuel (“Quick Fuel”). On June 20, Wisconsin-based petroleum marketer Jacobus sold Quick Fuel to Flyers Energy, LLC. As part of the agreement, the employees of Quick Fuel’s automated fueling stations business have joined Flyers and continue in their current roles. The mobile fueling business is being retained by Jacobus and will be re-branded as Jacobus Energy.
Grace Matthews, a Milwaukee-based investment bank, advised Jacobus on this transaction.
Headquartered in Milwaukee, WI, Quick Fuel is a premier operator of automated fueling stations, known as ‘cardlocks’ throughout 15 states across the U.S. Its network of conveniently located, unmanned sites provide commercial drivers with fast, reliable offsite fueling featuring innovative technology and a host of driver amenities.
Charles Jacobus Jr., CEO of Jacobus, commented, “The combined Quick Fuel and Flyers fueling stations network will provide customers with a broader base of fueling options across the U.S. Flyers’ longstanding leadership in the industry makes it an ideal partner to continue to enhance Quick Fuel’s reputation for advanced technology and operational excellence.”
Flyers intends to retain the Quick Fuel brand for the acquired fueling stations.
“In Flyers, Jacobus has selected a strong strategic buyer capable of rapidly and effectively expanding Quick Fuel’s already strong market presence.” Ben Scharff, Managing Director of Grace Matthews, commented. “We are pleased that this transaction will allow Jacobus to focus on its mobile fueling operations while presenting continued growth opportunities for Quick Fuel.”
Grace Matthews, Inc. served as the exclusive financial advisor to Jacobus, and Godfrey & Kahn S.C. acted as its legal advisors on the transaction. DCA Partners and Aronowitz Skidmore Lyon PLC served as financial and legal advisors, respectively, for Flyers Energy.
ABOUT JACOBUS ENERGY, INC.
Headquartered in Milwaukee, WI, Jacobus is a premier petroleum marketer in the U.S. Its services include mobile refueling and fuel management solutions for commercial operators. The company also provides heating and cooling services, going to market under the Quickflash brand. Jacobus is a privately-held, family-owned and operated company founded in 1919. For additional information, visit www.jacobusenergy.com.
ABOUT FLYERS ENERGY, LLC
Flyers Energy, LLC operations include transportation, commercial fueling on the CFN, Voyager, and Pacific Pride networks, distribution of MobilTM brand passenger car, heavy duty, and industrial lubricants, supply of wholesale and branded fuel, and generation of renewable fuels and power in the United States. Flyers is a marketer for Chevron, Shell, Valero, and 76 branded fuel stations and is the largest participant on the Commercial Fueling Network (CFN). For additional information, visit www.flyersenergy.com.
ABOUT GRACE MATTHEWS, INC.
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies across the chemicals and materials value chain. Grace Matthews is known globally for completing successful chemical industry transactions dating back to the early 1990s. Grace Matthews’ principals have completed over 150 transactions involving global corporations such as Akzo Nobel, 3M, Lubrizol, BASF, DuPont, Sherwin-Williams, PPG Industries, Axalta, Eastman, Ashland, W.R. Grace, Ceradyne, DSM, ICI, Borregaard, Air Products, Landec Corporation, The Home Depot, ITW, Hexion Specialty Chemicals, Atofina Chemicals, Brush Engineered Materials, Becker Industrial Coatings, RPM International, Weatherford International, Hempel, PolyOne, Evonik Industries, Courtaulds, Domino Sugar, and Chr. Hansen Laboratories. For more detailed information on Grace Matthews, Inc., visit www.gracematthews.com.