The JF Petroleum Group Announces the Acquisition of Rittiner Equipment Company, Inc.
May 4, 2021
Morrisville, NC – May 4, 2021 – The JF Petroleum Group, a MidOcean Partners portfolio company and the premier provider of fueling system solutions in North America, announced today that it has acquired Rittiner Equipment Company, Inc. Headquartered in New Orleans, LA, Rittiner Equipment is a full-service provider of petroleum equipment distribution, maintenance and construction services to customers across the Gulf Coast Region of the United States. The addition of Rittiner Equipment to the JF Petroleum Group strengthens its leadership position in the petroleum equipment industry and enhances its ability to serve customers’ fueling equipment needs across an expanding footprint in key US markets.
Keith Shadrick, CEO of the JF Petroleum Group, stated, “This acquisition represents another critical milestone for our Company. We can now provide our customers a contiguous service zone across an even broader geography. More importantly, the Gulf-Coast markets have a high propensity for growth and are in need of infrastructure development to support that growth and expansion. The combined resources of the JF Petroleum Group and Rittiner Equipment can better support the ever-increasing demand for equipment, service, and construction in the Gulf-Coast Region. Perry Rittiner built a company with a reputation for quality and exceptional customer service, the foundation of which is the tremendous team of professionals of the Rittiner Equipment Company. We are proud to welcome Perry and the entire Rittiner Equipment team to the JF Petroleum Group.”
“I am really proud of the Rittiner team and all that we have accomplished over the years, supporting both the growth of our customers and our company,” said Perry Rittiner, the founder of Rittiner Equipment Company. “The JF Petroleum Group is the perfect home for us, given the shared values of our companies as well as our commitment to quality and customer service.”
Barrett Gilmer, Managing Director of MidOcean Partners, said, “Acquiring Rittiner Equipment demonstrates our commitment to building the North American petroleum equipment industry’s leading solution provider in the JF Petroleum Group. We are laser focused on continuing to invest in the growth - both organically and through acquisition - of the JF Petroleum Group’s footprint, as well as the expansion of its service capabilities and product offerings.”
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About JF Petroleum Group
The JF Petroleum Group (formerly Jones & Frank) is a leading provider of turn-key distribution, construction and service solutions to the North American fueling infrastructure industry. The company serves retail fueling stations, commercial and government fleets, and emergency power customers through its network of 33 branch offices, 4 distribution centers and approximately 1,000 employees located across the United States. The JF Petroleum Group represents the premier products in the fueling infrastructure marketplace, including Gilbarco Veeder-Root, VeriFone, OPW, Franklin Fueling and Containment Solutions. To learn more, visit www.jfpetrogroup.com.
About MidOcean Partners
MidOcean Partners is a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments. Since its inception in 2003, MidOcean Private Equity has targeted investments in high-quality middle-market companies in the consumer and business services sectors. MidOcean Credit was launched in 2009 and currently manages a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts.
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