Written on: December 5, 2018 by ICM
Fredericksburg, VA-based Quarles Petroleum Inc. has is set to acquire Revere Gas, a Hartfield, VA-based propane gas distributor. The purchase is expected to close by year end. Financial terms of the deal were not disclosed.
Revere Gas is one of the largest retail propane distributors in Virginia. The family-owned company was established in 1942 by H.L. Revere and now serves more than 25,000 residential, commercial, agricultural, industrial and governmental customers. It has field offices in Burgess, Fredericksburg, Gloucester, Hartfield, Oilville/Richmond, Providence Forge, Warsaw and Williamsburg. The company also has a rail terminal in West Point. The Revere family will reportedly retain ownership of the Hartfield headquarters building.
Established in 1940 in Warrenton, Quarles Petroleum provides propane and heating oil, commercial services and fleet fueling services to customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania and North Carolina.
Original story: http://www.virginiabusiness.com/news/article/family-owned-virginia-fuel-businesses-to-combine