Cadence Petroleum Group (Wellspring-backed) Acquires Hoosier Penn Oil
October 23, 2023
Cadence Petroleum Group, a Wellspring Capital Management-backed distributor, has acquired Hoosier Penn Oil, Inc., an Indianapolis-based distributor of motor oil, lubricants, and car care chemicals. Periculum Capital advised HP Oil on the sale as Cadence seeks to increase the density of its Indiana footprint; HP Oil will continue to operate under its current name while leveraging Cadence's broader product and service offerings.
- Buyers
- Cadence Petroleum Group, Wellspring Capital Management, LLC
- Targets
- Hoosier Penn Oil, Inc.
- Sellers
- Brian Johnson
- Platforms
- Cadence Petroleum Group
- Industry
- Transportation
- Location
- Indiana, United States
- Transaction Type
- Addon
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