The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding
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www.fueloilnews.com | FUEL OIL NEWS | DECEMBER 2015 21 BUSINESS OPERATIONS N E W S FIELD CONTROLS NAMES GLOVER PROJECT MANAGER Field Controls is pleased to announce the appointment of Kyle Glover as Proj- ect Manager. He will lead product de- velopment and operate as team leader on assigned projects. Glover will act as engineering liaison to support imple- mentation of product changes, as well as design and develop new and modified HVAC products, and support on-going product maintenance. "Kyle brings valuable experience and expertise to Field Controls," said Patrick Holleran, president of Field Controls. "His team-building and leadership skills are key to our quest for continuous im- provement, higher quality, and greater efficiency." Glover is a graduate of the University of Florida with a B.S. in Aerospace Engi- neering and a B.S. in Mechanical Engi- neering. While at the University of Flor- ida, Glover edged out highly acclaimed competitors to garner prestigious awards for robotics, electrical, and mechanical engineering projects. MATRIX ANNOUNCES THE SUCCESSFUL SALE OF CROSSAMERICA PARTNERS LP'S FUELS TRANSPORTATION, HEATING OIL & TANK WAGON BUSINESSES Matrix Capital Markets Group, Inc. an- nounces the successful closing on the sale of the fuels transportation, residential heating oil and tank wagon commercial fuels businesses owned by CrossAmerica Partners LP (the "Company" or "Cros- sAmerica") that were formerly operated by wholly owned subsidiary, Petroleum Marketers, Inc. ("PMI") to multiple buy- ers. Reliable Tank Line, LLC, a division of Quality Oil Company, LLC, purchased the fuels transportation business. The heating oil and tank wagon commer- cial fuels business was sold by terminal branch to multiple buyers: Quarles Pe- troleum, Inc.; Davenport Energy, Inc.; and, Woodfin Heating, Inc. In May of 2014, Lehigh Gas Partners LP, the predecessor of CrossAmerica, purchased PMI, which at the time oper- ated two primary lines of business: con- venience stores and petroleum products distribution. CrossAmerica subsequently decided to divest the fuels transporta- tion, residential heating oil and tank wagon commercial fuels businesses, which consisted of customers, bulk stor- age plants, operational facilities and fleet assets that served customers throughout the Common-wealth of Virginia. PMI was incorporated in 1949, and has been supplying and delivering a variety of pe- troleum products to commercial, dealer, governmental and residential customers for over 60 years. Matrix provided merger and acquisi- tion advisory services to CrossAmerica, on the above divestitures, which included valuation advisory, marketing of the as- sets through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co- managed by Spencer Cavalier, Managing Director and Cedric Fortemps, Managing Director. Andrew LoPresti, Associate, also advised on the transaction. David Hrinak, Executive Vice Presi- dent and COO of CrossAmerica said, "Matrix's advice, assistance and profes- sionalism throughout this process has resulted in a positive outcome for all par- ties. As always, it was a pleasure working with the folks at Matrix." Dennis McCarthy and Marc Albanese of Davison & McCarthy, P.C. served as legal counsel for CrossAmerica. HOT 4-in-1 Heating Oil Treatment Hot 4-in-1 is the most complete heating oil additive on the market today. HOT 4-in-1 totally disperses water, controls waxing and gelling, eliminates sludge, reduces soot and improves atomization. For use in heating oil, bio-fuel and kerosene. Break it Down MELT DOWN is a highly effective formula specifically formulated to provide significant performance benefits in all diesel fuels, in- cluding ultra low sulfur diesel and bio-diesel fuel blends. Melt Down has been formulated to dissolve gelled fuel back into solution and return the flow in minutes. Melt down will not harm fuel pumps, nozzles, or any pre- combustion components. Melt Down is an emergency fuel treatment only. For preventa- tive maintenance in applications using diesel fuel. Use either FPPF Total Power or FPPF Polar Power. For treatment of Home Heating Oil or Bio-Fuel, use HOT 4-in-1 Heating Oil Treatment. Deluxe Anti-gel & Water Dispersant POLAR POWER is a highly effective prod- uct specifically formulated to provide sig- nificant performance benefits in all diesel fuels, including ultra low sulfur diesel and bio-diesel fuel blends. This unique formula- tion combines all the benefits of Fuel Power with the most advanced cold flow improver in our industry. Polar Power provides supe- rior protection in the cold weather months, includes a wax dispersant, lowers pour point and does not contain alcohols. Contact Melba Stewart, mstewart@fppf.com, or Call 1-800-735-3773. www.fppf.com