Poma Oil and Redwood Coast Petroleum Sold to Flyers Energy

Flyers Energy Continues Strategic Acquisition Push

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Jan 05, 2015, 07:25 ET

AUBURN, Calif., Jan. 5, 2015 /PRNewswire/ -- Flyers Energy, LLC (http://www.4flyers.com/) announced today that it has acquired the assets and business operations of both Bloomington-based Poma Distributing Company, Inc. and Santa Rosa-based Redwood Coast Petroleum, and related entities. These acquisitions come on the heels of Flyers' acquisitions of California marketer Redding Oil and Nevada marketer Allied Washoe, both completed in 2014. Flyers Energy is pursuing an aggressive growth plan announced in 2012, and is hopeful to complete several more acquisitions in 2015.

Trucks fuel at Rubidoux, an unattended cardlock site in Riverside County. Ownership of Rubidoux transferred to Flyers Energy with the sale of Poma Companies assets on Monday.

Flyers Energy CFO Tom Di Mercurio (left) shakes hands with Mark Williams, who will be the Lubricants Sales Manager for the combined company after the sale of Poma Companies, including Redwood Oil Company, to Flyers Energy on Monday.

These transactions will effectively triple Flyers' lubricants volume, whose commercial lubricants distributorships had been previously restricted to northern Nevada and areas around Lake Tahoe and Santa Cruz. "Poma is a good operation and a great fit for us," said Walt Dwelle, Managing Partner of Flyers Energy. "This deal allows us to expand our wholesale supply and lubes businesses into new geographic areas--particularly southern California, where we are a relatively new participant in the market."

Poma Distributing, Redwood Coast Petroleum and the related entities were all owned by Poma Holding Company, Inc. The acquired fueling operations include nine unattended commercial cardlock sites around the Inland Empire and in Sonoma County, wholesale distribution contracts for more than 100 branded gas stations, as well as distribution rights for three commercial lubricants brands in their respective geographic areas. Poma CEO Dave Larimer said, "We believe Flyers is an excellent buyer of the Poma Companies. Their strong heritage and rich family history in California are well aligned with the Poma Companies as is their passion around providing superior guest service."

Flyers Energy is actively looking for additional acquisitions throughout the western states. Parties interested in a confidential conversation about selling their business should contact Curt Rocca at DCA Partners, Flyers' outside acquisition representative, at (916) 960-5353 or by e-mail at [email protected].

About Flyers Energy LLC
Designated by Inc. Magazine in 2014 as an Inc. 5000 fastest growing company, privately held Flyers Energy franchises the Flyers fuel brand and distributes wholesale and branded retail fuel, commercial lubricants, renewable fuels and solar power in the United States. Flyers Energy is the largest member of the Commercial Fueling Network (CFN), and is also a marketer for Chevron, Shell, Valero, and 76 branded stations. Flyers Energy offers commercial fueling at 230,000 retail gas stations nationwide with the Flyers Fleet Card.

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SOURCE Flyers Energy, LLC