MidOcean Partners Announces that The JF Petroleum Group Enters into a Definitive Agreement to Acquire the Assets of JHS Construction
December 21, 2020
Morrisville, NC – December 21, 2020 – MidOcean Partners announced today that The JF Petroleum Group, a MidOcean Partners portfolio company and the premier provider of fueling system solutions in North America, has entered into a definitive agreement to acquire the assets of JHS Construction. Headquartered in Madison, IN, JHS is a turn-key construction services company serving the states of Ohio, Indiana and Kentucky. Effective January 1, 2021 all current employees of JHS Construction will become JF Petroleum Group Employees. The addition of JHS to the JF Petroleum Group’s Midwest Region strengthens its market leadership position in the petroleum equipment industry and enhances its ability to serve customers’ by adding turn-key construction services to its retail and commercial offerings.
Keith Shadrick, CEO of the JF Petroleum Group, stated “The addition of turn-key construction capabilities in our Midwest Region will significantly enhance and broaden the range of services we can provide our customers in that market. We have a long-standing relationship with JHS and have partnered on numerous projects throughout the years. Together we will be stronger and form a winning combination. We are proud to welcome Tim Ross and the employees of JHS Construction to the JF Petroleum Group!”
“I am extremely proud of what JHS has accomplished over the years since my father started the company,” said Tim Ross, of JHS Construction. “The JF Petroleum Group is the perfect home for our employees given the shared values of our companies and our long-standing and trusting relationship working side by side serving customers in the Midwest.”
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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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