Wellspring Capital Management Acquires Cadence Petroleum Group
October 8, 2020
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.
- Targets
- Cadence Petroleum Group
- Sellers
- Tenex Capital Management
- Industry
- Transportation
- Location
- North Carolina, United States
- Transaction Type
- Buyout
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