Mansfield Energy Acquires Fuel Distribution Assets of Lube-T
MINNEAPOLIS, July 9, 2020 /PRNewswire/ -- Mansfield Energy Corp announced today the acquisition of the fuel transportation assets of Lubrication Technologies (Lube-Tech), including its tankwagon and transport fleet operations and bulk storage facilities.
"We are excited to enhance the service we provide to fuel customers by bringing together fuel supply and delivery solutions," said Blake Young, President of Mansfield Oil Company. Mr. Young continued, "We look forward to continuing our partnership with Lube-Tech to create an impactful combination of data integration and supply chain management for fuels, lubricants, DEF, equipment, and related services throughout the Midwest. This acquisition furthers Mansfield's broader strategy of expanding our fuel asset footprint across North America."
Since 2014, Mansfield and Lube-Tech have partnered in Minnesota, Wisconsin, and Iowa markets to provide fuel, lubricants and more to their shared customers while refining business processes to present innovative fuel solutions to customers. The purchase of Lube-Tech's fuel assets enables fuel customers to receive enhanced delivery logistics and reporting through Mansfield's online fuel portal, FuelNet, while still benefitting from Lube-Tech's industry-leading fluids, lubricants, and vehicle washing solutions.
"This agreement allows us to better serve our combined customers in the Midwest while enabling Mansfield to bring the full force of its industry-leading supply footprint. We expect a seamless transition for fuel customers, and we will continue working closely with Lube-Tech to provide our shared customers with service beyond their expectations while collaborating to grow our businesses together," said Michael Mansfield, Sr., CEO of Mansfield Energy Corp.
"We are grateful that our customers have trusted us with their fuel deliveries over the past several years," said Chris Bame, CEO of Lube-Tech. "The dedication and service our Lube-Tech teammates have provided to our customers has been invaluable and we thank them for living our purpose to make tomorrow a little bit better than today. We believe that one Mansfield team from order to delivery will result in the best, go-forward fuel solution for our customers."
About Mansfield Energy Corp
Since 1957, Mansfield Energy has provided innovative solutions to the nation's most demanding fuel supply and logistics challenges. Mansfield's portfolio of products and services spans fuels, natural gas, diesel exhaust fluid, data management and price risk management tools. Delivering over three billion gallons of fuel and complementary products annually, Mansfield operates an unmatched network of suppliers, carriers, and vendors across every U.S state and Canadian province. To learn more about Mansfield Energy, please visit www.mansfield.energy.
Lube-Tech provides advanced energy, fluids, lubricants, vehicle wash solutions and other supporting services to customers across the Midwest within the automotive, industrial and manufacturing segments as well as private label fluids and lubricants to some of the world's largest OEMs. Since 1925, Lube-Tech has demonstrated a people-first, customer-focused approach. Lube-Tech's purpose is to make tomorrow a little bit better than today. Lube-Tech helps customers accelerate their performance, from their engines and equipment to their bottom line while continuously supporting their teammates and the communities where they live. Based in Golden Valley, Minnesota Lube-Tech has operations throughout the Midwest region; Shreveport, Louisiana; and Langenthal, Switzerland. For more information, visit www.lubetech.com.
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SOURCE Mansfield Energy Corp