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
Explore More
Related Acquisitions
-
Wellspring Capital Management Acquires Cadence Petroleum Group
October 8, 2020
Transportation
Wellspring Capital Management partnered with Cadence Petroleum Group's management to acquire Cadence, a distributor of lubricants, fuels and related products across the eastern and central United States. Tenex Capital Management exited its ownership of Cadence; Wellspring said the investment will be used to accelerate growth through add-on acquisitions and organic initiatives. Financial terms were not disclosed.
-
Capitol Pain Institute Acquires Wellspring Pain Solutions
February 16, 2023
Healthcare Services
Capitol Pain Institute (CPI), backed by Iron Path Capital, has acquired Wellspring Pain Solutions to expand CPI's interventional pain management platform into Indiana. The deal adds Wellspring’s clinics and ambulatory surgical center footprint across central Indiana and strengthens CPI’s regional network and operational capabilities.
-
Wellspring Capital Management Acquires Pentec Health
October 11, 2021
Healthcare Services
Wellspring Capital Management acquired Pentec Health, a national leader in patient-specific sterile compounding and home infusion services, from existing investors including Norwest Equity Partners and DW Healthcare Partners. The investment provides Pentec with capital and strategic support to accelerate organic growth and pursue add-on M&A; financing for the deal was provided by Twinbrook Capital Partners and advisors included Houlihan Lokey and Morgan Lewis.
-
Infinity Natural Resources Acquires Chase Oil Corporation Working Interest in South Bend Field
January 1, 2026
Oil & Gas
Infinity Natural Resources (NYSE: INR) acquired Chase Oil Corporation's working interest in the South Bend field in Pennsylvania in an all-stock transaction valued at approximately $36 million, effective January 1, 2026. The deal adds roughly 18 producing wells (~14 MMcf/d net) and strategic Marcellus/Utica acreage, providing immediate production uplift and near-term development opportunities.
-
PennSpring Capital Acquires Majority Interest in EHC Associates
January 26, 2022
Environmental Services
PennSpring Capital has acquired a majority interest in Lancaster, Pennsylvania–based EHC Associates, a 30-year environmental services firm offering environmental consulting, asbestos and lead abatement, mold remediation, demolition and related services. The investment is intended to position EHC for accelerated growth and institutional-scale expansion under PennSpring's stewardship.
-
Pennzoil-Quaker State (SOPUS Products) / Shell Acquires TFH Reliability Group (Allied Reliability)
December 22, 2022
Industrial Services
Pennzoil-Quaker State Company d/b/a SOPUS Products, a subsidiary of Shell USA, Inc., has acquired 100% of TFH Reliability Group, LLC, the parent company of Allied Reliability, to expand Shell's North American lubricants business with industrial services and predictive maintenance capabilities. The seller was Capstreet, the private equity owner of TFH/Allied Reliability; the transaction was signed and closed simultaneously.
Track M&A activity that matters to you
Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.