TAC Energy Buying Fuel Managers Inc.

by Arkansas Business Staff  on Friday, Oct. 30, 2009 3:54 pm  

TAC Energy, a division of Truman Arnold Cos. of Texarkana, Texas, announced Friday the acquisition of the wholesale fuel business of Fuel Managers Inc. of Tulsa.

The acquisition is effective Saturday, but terms of the transaction between private companies were not disclosed.  

TAC will keep "all key sales, operations and customer service staff from FMI," and they will work from expanded TAC offices in Tulsa and Denver.

"This proactive move is part of our overall growth strategy, and we are excited to be expanding our market share in the central and western U.S., while also reinforcing our supply resources and services to existing customers." Greg Arnold, president and CEO of Truman Arnold Cos., said in the news release announcing the deal.

Todd Phillips, president and CEO of Fuel Managers, said the "great deal" will bring together "two of the largest wholesale distribution companies."

Fuel Managers operates in 18 states.



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