Palmdale to Acquire Maassen Oil Company

PALM BEACH GARDENS, Fla., Aug. 6, 2024 /PRNewswire/ -- Palmdale Oil ("Palmdale"), a leading provider of fuels, propane, lubricants, and chemicals with delivery solutions across the state of Florida, today announced it has acquired Maassen Oil Company, Inc. ("Maassen"), a Florida-based distributor of refined fuel, lubricants, and propane. Financial terms of the transaction were not disclosed.

Founded in 1931 and based in Arcadia, Florida, Maassen supplies a diverse product offering, including propane, dyed off-road diesel and clear on-road diesel, gasoline, and lube oils to a broad base of commercial and residential customers across the region.

This transaction enables Palmdale to strategically expand its capabilities and bulk plant footprint across Florida.

"Like Palmdale, Maassen is a family-owned business that prioritizes personalized customer service. This partnership will enhance our transportation efficiency, and allow us to maintain our exceptional service standards, while reaching more customers within the Tampa and Fort Myers regions," said Lachlan Cheatham, Chief Executive Officer of Palmdale.

"Palmdale shares our values and commitment to exceptional service and respects the strength of our connection to the markets and communities in which we operate," said David Maassen, Co-Owner of Maassen. "As part of the Palmdale family, customers will continue to receive the high-quality refined fuel, lubricants and propane products customers rely on, while benefitting from Palmdale's expanded distribution network and capabilities and operational expertise – including across the agriculture and industrial markets."

About Palmdale Oil
Palmdale is a leading statewide provider of fuels, lubricants, and chemicals with delivery and management solutions. Headquartered in Palm Beach Gardens, Florida, Palmdale is a family-owned business operating in more than 50 counties across Florida.

About Maassen Oil Company, Inc.
Maassen Oil Co., Inc. operates as a petroleum products wholesaler company. The Company distributes lubricants, commercial and residential propane, as well as provides lubricant reclamation and filtration services to a broad base of commercial and residential customers throughout the state of Florida.

Contacts

Mallory Doremus
Vice President of Sales & Marketing
[email protected]

Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

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SOURCE Palmdale Oil