Grade A Petroleum partners with Plexus Capital
Grade A Petroleum, LLC has received an investment from Plexus Capital, LLC (“Plexus”). Grade A Petroleum markets and distributes commercial, aviation, industrial, and automotive lubricants, diesel exhaust fluid (“DEF”), antifreeze, coolants, and related products in New York City’s five boroughs, Long Island, Lower New York, Southwestern Connecticut, and Northeastern New Jersey.
“Grade A Petroleum has been in my family for four generations,” said Thomas Comber, Jr., CEO of Grade A Petroleum. “I am extremely proud of our heritage and how far we have come. I do not take this decision lightly. I am abundantly confident that this next step in our Company’s journey will provide a vehicle for accelerated growth and the security to continue offering our customers and suppliers a best-in-class partnership.”
“With its 60+ year history of family ownership and stellar reputation as a regional market leader, Grade A Petroleum was a perfect fit for our investment strategy,” said Brad Pence, Partner at Plexus. “We are excited to work alongside the Grade A Petroleum management team to continue to build upon the Company’s strong legacy and provide additional capital to support its continued growth both organically and acquisitively.”
Financing for the transaction was provided by PGIM Private Capital.
About Grade A Petroleum
Grade A Petroleum, based in Valley Stream, New York, is a distributor of lubricants, DEF, and related products. Leveraging its strong supplier relationships, Grade A Petroleum serves commercial, aviation, industrial, and automotive accounts throughout New York City’s five boroughs, Long Island, Lower New York, Southwestern Connecticut, and Northeastern New Jersey.
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 195 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.