Quarles Petroleum To Acquire Revere Gas

FREDERICKSBURG, Va., Dec. 4, 2018 /PRNewswire/ -- Quarles Petroleum, Inc., a regional provider of residential and commercial fuel headquartered in Fredericksburg, Virginia, has signed a purchase agreement to acquire Revere Gas, a third generation, family-owned retail propane gas distributor based in Hartfield, Virginia. The purchase is expected to close by the end of the year.

"The Revere Gas delivery area complements our existing delivery territory in central Virginia and expands our presence in eastern Virginia," commented Paul Giambra, CEO of Quarles Petroleum. "As family-owned businesses our companies share the same core values of providing superior service to our customers and giving back to the communities we serve. We look forward to welcoming Revere customers to Quarles, and pledge to deliver the same high caliber of customer service they've come to expect."

One of the largest retail propane distributors in the state of Virginia, Revere Gas was established in 1942 by H.L. Revere to meet the increased demand for locally provided, clean energy. Today, Revere serves over 25,000 residential, commercial, agricultural, industrial and governmental customers from field offices in Burgess, Fredericksburg, Gloucester, Hartfield, Oilville/Richmond, Providence Forge, Warsaw and Williamsburg and a rail terminal in West Point, Virginia.

"Our customers and team members will be in great hands," said Carlton Revere, the president and CEO of Revere Gas. "We have been blessed as our business has grown and thrived over three generations based on providing our customers great service at a competitive price.  I am pleased that we are able to transition our customers to a company that shares our values and commitment."  The Revere family will retain ownership of their Hartfield headquarters building to support their other family business ventures.

About Quarles Petroleum, Inc.
Established in 1940 as a one-truck oil company in Warrenton, Virginia, Quarles Petroleum is a regional provider of residential propane and oil, commercial delivered fuels, fleet card sites and services, and lubricants. The family-owned firm headquartered in Fredericksburg serves customers in Virginia, Maryland, Delaware, West Virginia, Pennsylvania and North Carolina. Quarles strives to provide superior customer service and competitive prices every day. Quarles continues to seek the right opportunities to accelerate their growth through strategic acquisitions. From more information about Quarles Petroleum, please visit quarlesinc.com.

Contact: Susan Morgan, 804-405-5685, [email protected]

SOURCE Quarles Petroleum, Inc.