Fuel distributor acquires company
A locally based fuel distributor has expanded its footprint in the state via acquisition.
Grand Rapids-based Crystal Flash said yesterday it acquired Lawrence-based Richardson Oil, a fuel distributor serving customers in southwest Michigan. The acquisition was finalized last month.
Financial terms of the deal were not disclosed.
The transaction is expected to be immediately accretive to earnings.
The acquisition will add four employees and more than 350 residential, farm, commercial and construction customers to Crystal Flash.
Tom Olive, Crystal Flash president, said he’s “pleased” to welcome Richardson Oil employees and customers to Crystal Flash.
Bill Richardson founded Richardson Oil in 1982. He sold the company to Jason Meachum, who has continued to run the company with one of his sons.
The company provides a broad range of fuel products, including home heating oil, diesel fuel, gasoline, kerosene, lubricants and racing fuels.
Crystal Flash has completed nine acquisitions in the past five years.
The company now has 14 locations across Michigan and delivers propane, diesel and other fuels to a variety of customers.