LO3 Capital, a private investment firm, provided a senior subordinated debt investment to support the Santmyer Companies’ acquisition of Cole Distributing.
A privately-owned and family operated company established in 1952 in Wooster, OH, Santmyer is a petroleum marketer in northeast and central Ohio. Santmyer’s primary offerings include diesel, gasoline, propane, lubricants, diesel exhaust fluid and logistics services. Cole Distributing, based in Shelby, OH, is a distributor of propane, commercial fuels and lubricants.
“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,” Zach Santmyer, president and CEO of Santmyer, said. “As we continue to expand our footprint, we’re glad to work with LO3 Capital. They were able to step in, quickly understand our vision for Santmyer, and provide the support needed to close on a transformative acquisition.”
“We’re excited to partner with the talented management team at Santmyer,” Glenn Harrison, managing partner at LO3, said. “The acquisition positions Santmyer as a leading fuel distributor in the Ohio region and will allow the company to continue to provide outstanding service to its growing customer base.”
