MFA Oil Company has acquired select assets of Fuels & Supplies and Jim Woods Marketing, Inc. The sale includes propane operations in northeast Oklahoma and refined fuel/ tank wagon operations in northwest Arkansas and northeast Oklahoma.
The purchase represents a major step into refined fuel operations for MFA Oil in the state of Oklahoma. This is the company’s third propane acquisition in Oklahoma in 2016. MFA Oil previously acquired Terry’s Propane Inc. of Washington, Oklahoma in May and R&S Propane, Inc. of Dibble, Oklahoma in January.
“This is a great opportunity to expand our distribution network and increase efficiencies in Arkansas and Oklahoma,” says Don Smith, MFA Oil Director of Mergers and Acquisitions. “Fuels & Supplies and Jim Woods Marketing have an outstanding reputation in this region and we are eager to build upon their success. We plan to run their business with little noticeable change, and with the same commitment to service, quality and small town values.”
The former owners of Fuels & Supplies and Jim Woods Marketing plan to shift their focus to their retail and wholesale fuel hauling business.
“Fuels & Supplies and Jim Woods Marketing have been privileged to serve our customers for 60 years” remarked Alan Chapman, president of Fuels & Supplies and Jim Woods. “We are excited about this transition to MFA Oil. Their management has set the tone from the top, reflecting a corporate culture of integrity which will continue to serve our customers. As a result, all of Fuels & Supplies and Jim Woods Marketing can be assured that quality service will continue as we move forward with our future business plans.”
This is MFA Oil’s seventh acquisition of its fiscal year, which began September 1, 2015. Previous acquisitions include Lybarger Oil, Inc. in Garnett, Kan.; Elaine Petroleum Distribution, Inc. in Elaine, Ark.; R&S Propane, Inc.; S&S Oil and Propane Company Inc. in Emporia, Kan.; Brownfield Oil Company in Moberly, Mo.; and Terry’s Propane Inc.
MFA Oil will continue to evaluate strategic acquisition opportunities in its existing market area and other states where it can expand its footprint.