Blythewood Oil Company, Blythewood, SC a second-generation company founded in 1976 by Larry Sharpe Sr. has agreed to be acquired by the Petroleum Marketing Group, Falls Church, VA.
Blythewood Oil Company operated 9 convenience stores, wholesale fuel sales and transportation business and has always had an affiliation with Exxon/Mobil throughout their tenure and later they acquired the BP brand. All 9 of Blythewood Oil Company stores are located between Charlotte, NC and Columbia, SC and in the beginning the Blythewood, SC store was the only store between Charlotte and Columbia.
Even though the Sharpe family had decided to exit the convenience store business they still remain in the transportation and dealer business continuing to serve their customers as they have done since 1976.
Petroleum Marketing Group, Falls Church, VA began in the 1970’s when Hossein Ejtemai acquired his first gas station. A graduate of George Washington University with a master’s degree in Computer Science and Engineering Administration Hossein continued to grow the business with more service sites in the Washington, D.C. area and by 2001 his operations had grown large enough that he formed Petroleum Marketing Group.
In 2004 PMG also began making major acquisitions, purchasing 150 sites in Maryland and Virginia and by adding over 500 more sites the end of 2012. Today, PMG employs over 600 people and serves 1,200 gas stations from Maine to Florida, making it one of the largest wholesalers and distributors of petroleum products on the East Coast. The company’s transportation division and its partners collectively deliver over a billion gallons of fuel per year.
American Business Brokers & Advisors, Ft Myers Beach, FL provided merger and acquisition advisory services to Blythewood Oil which included valuation advisory, marketing the business through a confidential process, and negotiation of the transaction. The transaction was managed by Terry Monroe, President.
Financial details of the transaction were not disclosed.
