Parker Oil acquires Bobby Taylor Oil

Parker Oil Co., based in South Hill, Virginia, acquired Bobby Taylor Oil Co. and T&S Transport, based in Fayetteville, North Carolina.

Bobby Taylor Oil was founded in August 1963 by Bobby Taylor, and it operated at the time out of Taylor’s home in Fayetteville. During its first years of business, the company sold fuel oil, kerosene and gasoline to its local customer base with one tank wagon. The company added propane and racing fuels to its product mix and further expanded its customer base throughout central North Carolina. Following his father’s retirement in the early 2000s, Johnny Taylor Jr. assumed the role of president and, with his brothers David and Mark, led the company through several decades of continued growth.

Today, the company operates two refined fuels and propane bulk plants in Fayetteville and Elizabethtown, North Carolina, and employs more than 30 associates. It supplies retail propane, commercial refined fuels and racing gas to a diverse customer base of residential and commercial accounts throughout North Carolina.

Parker Oil serves businesses and residences in southern Virginia and northeastern North Carolina with a range of energy-related products and services. It delivers oil, propane and other petroleum products, including renewable biodiesel, and services heating and cooling systems.

Matrix Capital Markets Group provided merger and acquisition advisory services to Bobby Taylor Oil, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by John Duni, vice president; Spencer Cavalier, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; and Jared de Perio, analyst.

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