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Young oil company completes first acquisition

WALTERBORO, S.C. — The acquisition allows the new company to expand its reach in the Southeast.

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WALTERBORO, S.C. — SCV Oil LLC recently purchased Rhodes Oil Co. Inc. during its first acquisition, according to a press release.

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The acquisition allows the new company to expand its reach in the Southeast, noted the release.

“Being totally new to the fuels distribution industry in the United States, we needed to acquire a company that would provide us with a complete turnkey operation, including systems and experienced personnel. Rhodes Oil really met our needs in this regard,” shared Daniel Rafael in the release.

Read also: Motion Industries acquires oil company

“With the experienced Rhodes Oil team, we look forward to assessing new acquisition opportunities in the very near future,” he added in the release.

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Rhodes Oil was founded in 1945 in South Carolina, stated the release.

“[Rhodes Oil] was one of the defining elements of our family for so many years,” said Bob Smith, CEO of Rhodes Oil, in the release. “After much deliberation and soul searching, we all agreed that the time was right to professionally sell the company and turn the page to a new chapter of our lives.”

Click here to read the entire release.

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