Total Energy, LLC Acquires Ocean State Oil
Total Energy, LLC (Part of the Santoro family of Companies) acquired the assets of Ocean State Oil, a leading lubricant marketer in Southern New England on August 1st 2012.
This is a particularly significant and interesting acquisition, in part, due to the size and geographic reach of the aggregate companies.
Established in 1973, Ocean State Oil is one of the leading marketers of lubricants in the Southern New England region. The company operates a state of the art facility in Quonset Point, RI. This facility houses 50,000 square feet of space dedicated to lubricants, over one half million gallons of indoor bulk storage, and rail siding. They operate a fleet of 18 trucks, which includes the first Lube master vehicles in New England.
“The Santoro Family is excited about the opportunities created by the acquisition of Ocean State Oil and how the combination compliments its other operations in New England, Santoro Oil, in RI and CK Smith/Superior in Worcester MA,” says John Santoro, Vice President of Total Energy, LLC.
The Santoro family also operates Domestic Fuels and Lubes, a leading distributor of diesel fuels, gasoline and Chevron motor oils and lubricants servicing Southeast Virginia and Northeast North Carolina.
Ocean State Oil is the only 1st Source Elite Distributor for Chevron Lubricants in New England. Another reason why this is an interesting acquisition is the stronger relationship Total Energy (Santoro Family Co) appears to now have with Chevron Lubricants. In 2012 Domestic Fuels anticipates achieving the 1st Source Elite status with Chevron Lubricants. Total Energy’s acquisition of Ocean State Oil will strengthen the partnership between Chevron Lubricants and the Santoro Family of Companies.
The Santoro’s purchase of Ocean State, “provides an instant platform fully staffed with a winning team,” says John Santoro. Further he adds, “No changes in personnel or management are planned.”
The former owner of Ocean State Oil, Dan Bell will remain with the company and continue to have a vested interest in the venture. To this point, John Santoro says, “We are pleased to announce, it’s business as usual!”