The JF Petroleum Group Announces the Acquisition of McCon Building & Petroleum Services, Inc.
November 3, 2020
Morrisville, NC – November 3, 2020 – 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 McCon Building & Petroleum Services, Inc (“McCon”). Headquartered in Flower Mound, Texas, McCon is a full-service provider of petroleum equipment distribution, maintenance and construction services to customers across Texas. The addition of McCon to the JF Petroleum Group strengthens its leadership position in the petroleum equipment industry and enhances its ability to serve customers’ fueling equipment needs in Texas and other Southwestern US markets.
Keith Shadrick, CEO of the JF Petroleum Group, stated “This is one of the most meaningful acquisitions our company has ever conducted from the perspective of delivering the highest quality service and overall value to our customers. McCon’s reputation for quality is built on a foundation of operational excellence and exceptional customer service. Under the leadership of Chris Lawson, McCon positioned itself as an elite supplier of the highest quality construction and service capabilities in our industry. We are proud to welcome Chris and the entire McCon team to the JF Petroleum Group!”
“I am extremely proud of what McCon has accomplished over the years and how we have been able to support the growth of our customers across Texas,” said Chris Lawson, the former owner of McCon. “The JF Petroleum Group is the perfect home for McCon 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 McCon supports our strategy of building the North American petroleum equipment industry’s leading solution provider in The JF Petroleum Group. We look forward to continuing to grow our footprint across North America both organically and through acquisition, further solidifying our position as the industry’s leader.”
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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 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 currently manages over $7.5 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of September 30, 2020.
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