Andretti Petroleum Acquires Central Petro
Colvin Oil, an Andretti Petroleum Group business unit based in Grants Pass, Ore., has partnered with Thompson and Harvey Transportation Inc. of Santa Maria, Calif., to purchase the assets of Central Petro Inc., a fuel transportation logistics company based in Bend, Ore.
The newly created joint-venture acquirer entity will be known as Thompson and Harvey Transportation Northwest LLC and do business as a common carrier throughout Oregon, according to an announcement today.
The new joint venture was formed to “provide timely, safe and cost-effective fuel delivery services to Oregon wholesalers and retailers,” the announcement said. Andretti Petroleum also said that it has formed an alliance with ISTOBAL USA to provide vehicle wash equipment to its company locations and dealer sites. ISTOBAL has manufactured car wash systems out of its Bristol, Va., plant since it was founded in 1950.
Under the supply arrangement, Andretti Petroleum will provide ISTOBAL FLEX5 rollover washes to its customers in California and Oregon. “Our initial installations have been seamless and have yielded excellent uplift results,” said Mario Andretti, Andretti’s chairman. “Likewise our recent JV transport acquisition has allowed us to more efficiently and effectively serve our customers.”
The Andretti Petroleum Group comprises several companies that market petroleum products in California, Oregon and Washington, including: Peninsula Petroleum, Humboldt Petroleum and Colvin Oil.
The company also announced the following executive appointments: M.J. Castelo has assumed the newly created role of chief executive officer of the combined companies, Peninsula, Humboldt and Colvin; Elizabeth Bailey has joined the company as chief financial officer of Colvin Oil; Clint Monchamp has joined Thompson & Harvey Transport Northwest as general manager; and Kim Rodgers has
been named assistant controller of Humboldt Petroleum. Lane Colvin continues as president-member of Colvin Oil.
–Donna Harris, email@example.com
Copyright, Oil Price Information Service