MidOcean Partners Announces Jones & Frank Acquires ANS Distributing
July 1, 2016
NEW YORK, JULY 1, 2016 – MidOcean Partners, a premier middle market private equity firm, is pleased to announce that Jones & Frank, the premier provider of fueling system solutions in the United States, announced today that it has acquired ANS Distributing. ANS is a leading national petroleum equipment provider serving some of the largest fuel marketers in North America. With the combined capabilities of these two leading companies, Jones & Frank has unequaled scale and resources in the petroleum equipment industry to better serve customers’ fueling equipment needs across North America.
Jones & Frank CEO, Jim Bolch, said “I am excited about the opportunities that this combination makes possible. ANS has built a very successful business over the last 35 years by providing outstanding customer service made possible by operational excellence and exceptional product support expertise. These capabilities will bolster Jones & Frank’s strong sales, service and installation network to provide our customers more comprehensive support for all their fueling equipment needs.”
“I am extremely proud of what ANS has accomplished to date and how we have been able to earn a position as a valued partner to many of the largest fuel marketers in the US” said John Sauers, President of ANS Distributing. “I believe that becoming part of Jones & Frank will provide great opportunities for our customers and our employees.” John Sauers will serve as President of ANS Operations and Executive Vice President for Jones & Frank.
Barrett Gilmer, Managing Director of MidOcean Partners, said “We are thrilled about continuing to build a truly world-class company within the fueling equipment industry. We believe there are numerous opportunities to continue to grow Jones & Frank across North America both organically and through acquisition.”
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About Jones & Frank
Headquartered in Raleigh, North Carolina, Jones & Frank is the leading value-add distributor and provider of repair, maintenance and installation services to the fueling infrastructure industry. The Company distributes, installs and services fueling equipment to retail fueling stations, commercial and government fleets, and emergency power customers. Jones & Frank predominately covers the Atlantic seaboard from Maine to Georgia and commands the #1 market position in the majority of its operating areas. Additional information about Jones & Frank is available at www.jones-frank.com.
Strategic Growth Through Acquistion
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has managed approximately $4.8 billion of committed capital and has targeted investments in high-quality middle market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and manages approximately $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of September 30, 2019.
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