Quarles Petroleum Acquires Petroleum Distribution Business of Colonial Fuel Oil

1/8/18

Quarles Petroleum, Inc., a regional provider of residential and commercial fuel headquartered in Fredericksburg, Virginia, has acquired the petroleum distribution business of Colonial Fuel Oil, Mechanicsville, Virginia. Quarles currently operates distribution centers throughout Virginia and will consolidate its Richmond fuel distribution operations at the Colonial Fuel Oil property located at 5279 Mechanicsville Turnpike, Mechanicsville.

"This acquisition supports Quarles growth strategy of attaining quality businesses to increase market share in the delivery of heating products to residential and commercial customers," stated Quarles CEO Paul Giambra. "We look forward to providing Quarles high level of quality customer service to the Colonial Fuel Oil account base." Colonial Fuel Oil has served customers in the Mechanicsville and greater Richmond area since 1949, the last 41 years under the stewardship of the Cassanos family.

Art Cassanos, President of Colonial Fuel Oil, stated, "We looked at a number of possible companies to acquire the Colonial Fuel Oil business and we selected Quarles as the best fit for our customers. Like Colonial Fuel Oil, Quarles is a family-owned business that has served customers throughout the Virginia market since the 1940s. We believe they will continue to supply our customers with quality products and superior service."

About Quarles Petroleum, Inc.

Quarles Petroleum is now in its seventh decade of operations serving customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania and North Carolina. A regional provider of residential propane and oil, commercial delivered fuels, fleet card sites and services, and lubricants, Quarles strives to provide superior customer service and competitive prices every day. For more information about the company please visit our website at www.quarlesinc.com.

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