Chicago firm acquires Glendale oil distribution center
Osprey Capital, LLC, a Chicago-based private equity firm, announced the acquisition of the Chevron Oil distribution center for the Phoenix market. The property includes an office, warehouse and tank farm. The acquisition is a part of the growth initiative for Orange Line Oil, a leading oil distribution company that Osprey also owns. Orange Line is expected to make an immediate impact in the Phoenix market, already inking supplier contracts with Castrol and Total.
Orange Line is a bulk oil wholesaler and oil distributor based in Los Angeles, CA. Founded in 1970, Orange Line offers a full line of motor oils, synthetics, specialty lubricants, automotive supplies, equipment and chemicals that includes name brand products such as Castrol, Wynn’s, Pennzoil, Quaker State, Rotella T, Formula Shell, Rain-X, Gumout, Peak, Motorcraft, Total, ENEOS as well as their own Private Label. With the recent acquisition, Orange Line now serves these great name-brand products to the Phoenix area with an emphasis in Castrol, Total, Wynn’s Chemical and Orange Line’s private label.
Greg Hoffmann, Principal and Senior Vice President of Osprey Capital, led the acquisition. “Now that we have fully integrated our chemical business [Osprey acquired Wynn’s Chemical Distribution in June of 2014], we are looking to expand our presence across the United States. This acquisition opens the door for us in the Phoenix market and is a great stride in growing this great company.” Orange Line CEO, Scott Tredinnick commented, “Phoenix presents tremendous opportunity for Orange Line. We look forward to delivering superior service to our customers and continuing to grow our strong
relationships with our suppliers.”