Quarles Petroleum Acquires Revere Gas
Virginia-headquartered Quarles Petroleum, a regional provider of residential and commercial fuel, has acquired Revere Gas, another Virginia-based retail propane gas distributor, according to a Dec. 4 press release.
The purchase is expected to close by the end of the year, and financial terms were not announced.
“As family-owned businesses, our companies share the same core values of providing superior service to our customers and giving back to the communities we serve,” Quarles CEO Paul Giambra said. “We look forward to welcoming Revere customers to Quarles and pledge to deliver the same high caliber of customer service they’ve come to expect.”
Revere was founded in 1942. It serves more than 25,000 residential, commercial, agricultural, industrial and governmental customers throughout Virginia.
Quarles was founded in 1940 as a one-truck oil company in Warrenton, Va. It services customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania and North Carolina.
In January, Quarles announced the acquisition of two other Virginia petroleum distributors: Northern Neck Gas and Colonial Fuel Oil. The company continues to seek acquisition opportunities to accelerate growth, according to the press release.
