Two longtime leaders in lubricant distribution, Apollo Oil and Pugh Lubricants have announced a merger creating an organization uniquely positioned to serve the growing automotive, trucking and industrial lubrication markets with an unparalleled ability to support clients on a broad regional basis with a local touch.
The companies have very little overlap in geography, enabling Apollo and Pugh to continue operating as separate divisions while maintaining their historic company names in the near term, an affirmation of the commitment to customer relationships cultivated over more than one hundred years. The combination joins Pugh's service regions in North Carolina, South Carolina, Virginia, and Tennessee with Apollo's service regions in Kentucky, Ohio and West Virginia under one company.
Pugh President Mike Pugh said, "Apollo has long been recognized for their commitment to excellent service which is the foundation of our industry. We share the same philosophy and the combination of our two companies reflects a proud history of nearly 140 years in business. We look forward to building upon that heritage together."
"The Pugh brand has long been admired and shares Apollo's values of service, quality, and integrity," said Ed Dotson the CFO and GM of Apollo. "This combination is a fitting legacy to the original founders of both companies, and we are very excited to join these two companies and deliver increased value to our customers by leveraging the experience, products and services of both organizations."
Key strategic benefits of the combination include:
Mike Pugh and Ed Dotson will continue in their current leadership roles.
About Apollo Oil
Apollo Oil is a distributor of nationally branded and private label finished lubricants, antifreeze, and other ancillary product lines throughout Kentucky, Ohio, West Virginia, and portions of Illinois, Indiana, and Tennessee. For additional information, please visit www.ApolloOil.com.
Pugh Lubricants is pleased to announce an investment from Tenex Capital Management. Pugh is one of the largest lubricant distributors in the Southeast, servicing the automotive, commercial, and industrial markets from locations in Asheboro, NC; Richmond, VA; Charleston, SC; and Nashville, TN. Started in 1947, the company will continue to be managed by the third and fourth generations of company founder John Q. Pugh, Jr.
"We are very excited about this opportunity to work with Tenex and leverage their extensive financial and operating capabilities. This relationship further strengthens our position in the market and creates a foundation for future growth while allowing us to maintain our reputation for quality service earned over nearly 70 years in business," remarked Mike Pugh, President of Pugh.
Mike Green, CEO of Tenex Capital Management commented, "We are pleased to partner with the Pugh family to support accelerated growth and expand the reach of the Pugh brand while preserving the Company's focus on best-in-class customer service. We believe our teams bring highly complementary skills and share a common vision that will serve all customers, employees and shareholders well."
Tenex Capital Management is a private equity firm that invests in middle-market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex's deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
As a distributor of premium lubricants in seven states, Pugh Lubricants partners with premium, innovative businesses to deliver high quality products and services to our network. Pugh is pleased to announce its new market partnership with Chemtura, a global, specialty chemicals company.
Chemtura’s Anderol® Industrial Lubricants portfolio has a pedigree of technological leadership, including a global reputation as a manufacturer of high-performance lubricants within various market applications. Chemtura’s Royco® Fluids are engineered to deliver unrivaled performance for the most advanced requirements. Anderol® and Royco® Fluids set a quality and technology standard that is depended on today and has been trusted for the past 70 years.
Pugh Lubricants recently added Mississippi, Alabama and Memphis to their distribution territory. By expanding coverage, Pugh will now provide automotive, commercial and industrial lubricants along with related products to customers throughout this region.
In a statement, Tyson Pugh, Senior Vice President for Pugh Lubricants said: “The addition of Mississippi, Alabama and Memphis is a natural fit for our company to expand our reach in the southeast. We are excited to provide these markets with the same quality products and services that we provide throughout our network."
Pugh Lubricants has acquired a new 25,000 square foot facility located on 6 acres in Smyrna, TN to service the Nashville market and surrounding areas beginning February 1, 2014. Pugh will provide a full line of automotive, commercial and industrial lubricants, antifreeze, filters, wiper blades, and service chemicals.
This expansion represents a major step forward in the long term strategic plans for the company. Pugh has experienced staff on site and looks forward to serving the surrounding markets.
Pugh Lubricants, a leader in lubricant distribution, has completed a 25,000 square foot expansion to their Richmond, Virginia facility. The expansion includes the addition of 52 new bulk storage tanks, additional warehouse space, remodeling the existing office space, and paving all driveways on the property. This investment demonstrates a commitment to the Virginia market and provides the foundation for providing best in-class service.
2012 marks our 65th anniversary and we're proud to celebrate this milestone in our company's history. It is a testament to our previous leadership that we've successfully built upon their strong foundation and heritage of integrity, innovation and quality. Our commitment is demonstrated by strong customer relationships built over the years and this achievement is a tribute to the talent and dedication our employees have contributed to our past, present, and future success.
Distributor Receives Designation as Aviation Lubricants Specialists
ConocoPhillips Company, the fourth largest U.S. lubricants supplier, today announced that Pugh Lubricants has achieved TOP FLIGHT Marketer status as a preferred source for Phillips 66® Aviation lubricants. According to Gary Balzhiser, Manager of Commercial Lubricants, this recognition is awarded to a select number of ConocoPhillips Lubricants distributors who have guaranteed inventory of the top aviation SKU’s and deeper resources to help support the general aviation community. Pugh Lubricants, a 64-year-old company, is a TOP FLIGHT Phillips 66 brand distributor offering the entire line of Phillips 66 Aviation lubricants to customers in select regions of North Carolina, South Carolina and Virginia.