Cincinnati, Ohio, September 2, 2011 – RelaDyne, LLC (“RelaDyne”) announced today that it has acquired Derrick Oil and Supply, Inc. (“Derrick”). Derrick, an independent distributor of lubricants, fuel and related products and services located in and serving the Golden Triangle of East Texas, was founded in 1977.
From its inception, Derrick has been known as the most customer-focused lubricant and fuel supply business in the Port Arthur, Beaumont and Orange, Texas areas with a strong reputation for service. Former owners Rick and Cindy Alphin managed the business for industrial, commercial and automotive customers in the Golden Triangle area. The branch is strategically located between Houston, Texas and Lake Charles, Louisiana, ideal for servicing the East Texas market.
Rick Alphin, President, Cindy Alphin, General Manager, and their entire sales and operations team will be staying with the company to ensure continuity for customers, employees and suppliers. Derrick meshes well with RelaDyne’s Gulf Coast division, which includes Pumpelly Oil located throughout Southern Louisiana and The Hurt Company located in the Houston market. Derrick will operate as part of this division; and Cindy Alphin, the branch manager going forward, will report directly to Glenn Pumpelly, RelaDyne’s General Manager for the Gulf Coast Region.
“I welcome the customers and employees of Derrick Oil to the RelaDyne family and look forward to the opportunities the great event affords them!” says Larry Stoddard, Chief Executive Officer for RelaDyne.
Jeff Hart, Executive Vice President of Business Development for RelaDyne, commented on the acquisition, “Derrick represents an ideal acquisition candidate for RelaDyne in that it possesses quality people, an outstanding reputation and is strategically located in a market that is new geography to us. The only necessary components for immediate success lie in access to capital and depth in buying power, both of which RelaDyne brings to the company on day one. We are excited to see what the team in Port Arthur, Texas, can do with more ammunition at their disposal.”
Rick Alphin stated, “We are very excited that our employees will have an opportunity to join the RelaDyne team. RelaDyne brings the resources necessary in capital and back office support which will allow us to focus on market share growth. More importantly, we are excited for our employees who will be able to grow and benefit from RelaDyne’s experience and extensive network.”