Santmyer Companies purchases Cole Distributing

May 4, 2023 By    

Santmyer Companies, based in Wooster, Ohio, acquired Cole Distributing, located in Shelby, Ohio.

A privately owned and family-operated company established in 1952, Santmyer is a full-service petroleum marketer in northeast and central Ohio. Santmyer’s primary offerings include diesel, gasoline, propane, lubricants, diesel exhaust fluid and logistics services.

“We are proud to welcome Cole Distributing to the Santmyer family of companies,” says Zach Santmyer, president and CEO of Santmyer. “The Cole family has built a phenomenal business, and we are excited to build upon their legacy of propane and fuels distribution in north-central Ohio.”

“The synergies between our teams make it a natural partnership, and we look forward to the opportunity for growth,” he adds.

Cole Distributing provides propane, commercial fuels and lubricants. The company was founded in 1980 by Rodney and Kathleen Cole and serves thousands of central Ohioans’ energy needs.

“For over 40 years, the Cole ownership and employees have built a strong, loyal customer base, and we look forward to continuing these relationships,” says Terry Santmyer, chairman of Santmyer.

Adds Nate Santmyer, general manager of Santmyer: “We are thoroughly impressed with the quality addition of Cole’s operations, equipment and facilities to our existing infrastructure.”

Matrix Capital Markets Group provided capital and acquisition advisory services to Santmyer, which included financial modeling, assessment of optimal financing strategy, enhanced structural flexibility and negotiation of the financing. The transaction was managed by John Whalen, head of Matrix’s Capital Advisory Investment Banking Group; Ryan Weir, director; and Garrett Novotny, analyst.

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