Texas based oil marketer expands operations in the Northeast.
DALLAS, Texas (June 1, 2016) – TAC Energy, a division of The Arnold Companies (TAC) has acquired the wholesale unbranded business assets of Mutual Oil Co. Inc. (Mutual) effective June 1, 2016.
Terms of the sale between the privately held companies are not being disclosed.
TAC Energy will maintain all key sales and customer service associates from Mutual, who will temporarily operate from their current offices outside Boston. Plans are currently underway to relocate to new office space in the area within the next several months.
TAC Chairman and CEO, Greg Arnold, stated “The Mutual Oil acquisition is another facet of our overall growth strategy and establishes a strong base of business in New England.” Last February, TAC Energy opened a regional sales office in the Northeast, headed by industry veteran Christine McHale – who will focus on growing the mid-Atlantic region for TAC Energy.
According to Steve Shaer, Executive Vice President of Mutual Oil Co. Inc., “Our primary concern entering into this agreement was to make sure our customers were going to be taken care of by a like-minded supplier, who would by and large maintain the day to day interaction with the people they are used to working with. We wanted an organization who had the resources and a strong supply network.” He continued, “We are confident TAC Energy is the right company to serve our customers in this ever-increasing competitive environment.”
Fred Sloan, VP & COO of TAC Energy added, “TAC Energy is excited to bring our customer focused marketing to this new, diverse demand center. We are keeping key personnel in place and layering in our national coverage, financial strength and information technology. We will be offering customers in New England and the Northeast the most complete fuel supply and service packages of any independent supplier. It’s the best of all worlds – national coverage, regional focus, local support.”