AEG Petroleum partners with Plexus Capital to launch a new platform focused on growth in the petroleum distribution industry
AEG Petroleum, LLC (“AEG”) has entered into a partnership with Plexus Capital, LLC to establish a new, growth-oriented platform in the petroleum distribution industry. AEG, founded by Wade Alexander in 2010, is a lubricant, diesel exhaust fluid, and fuel distributor headquartered in Amarillo, Texas. AEG operates several distribution locations throughout Texas, Oklahoma, and New Mexico, along with multiple card lock stations in the region.
“AEG is a leader in the petroleum distribution industry and has always maintained the utmost professional integrity while providing excellent service to our customers in Texas, Oklahoma, New Mexico, and surrounding states for the past 15 years,” said Wade Alexander, President, CEO, and Founder of AEG. “I am beyond proud of the lasting relationships with customers, vendors, and our employees. Our new partnership with Plexus is a natural next step as AEG continues to grow for the benefit of our customers and employees.”
“We are excited to partner with the AEG leadership team to accelerate growth within the petroleum distribution industry. The company has a proven track record of growth, long-standing customer relationships, a talented leadership team, and has earned a stellar reputation for unparalleled customer service,” said Brad Pence, Partner at Plexus Capital. “We look forward to building on this strong foundation to support AEG’s continued growth through organic initiatives and strategic acquisitions to scale a leading platform.”
Financing for the transaction was provided by PGIM Private Capital. Stephens Inc. served as financial advisor to Plexus, and Flatirons Capital Advisors served as financial advisor to AEG.
About AEG
AEG, based in Amarillo, Texas, is a distributor of lubricants, DEF, and fuel. AEG’s commitment to customer service, reliability, and safety has set it apart. Leveraging its proprietary brand, AEG serves agriculture, industrial, fleet, and government accounts throughout Texas, Oklahoma, New Mexico, and surrounding states. AEG prides itself on supplying advanced petroleum products while valuing customer relationships.
About Plexus
With offices in Raleigh and Charlotte, North Carolina, Plexus has raised over $2.2 billion across seven funds that has allowed it to fund over 190 platform investments and focus exclusively on the lower middle market. Plexus invests debt and/or equity to fund growth, acquisitions, leveraged buyouts, management buyouts, and recapitalizations. Prospective portfolio companies have strong management teams, positive cash flow, large market opportunities, and need capital to execute their business plans.