Ridgemont Equity Partners has made a majority equity investment in J.A.M. Distributing Company (JAM), a distributor of lubricants, fuel, base stock and ancillary products.
“Our first introduction to Ridgemont displayed their professionalism and knowledge of investing in diverse industries. They definitely had a very strong interest in JAM and the desire to make a substantial investment in my company. I believe that Ridgemont Equity Partners will be a very good fit for JAM because of their commitment to our employees, customers and the continued growth of our business. I wish the new partnership a long and very prosperous future,” said Johnny Maniscalco, founder of JAM.
J.A.M. Distributing Company is a distributor of lubricants, fuel, base stock, and ancillary products for the industrial, commercial vehicle, passenger vehicle, and marine end markets. The company operates as one of ExxonMobil’s leading US lubricant distributors. JAM is headquartered at its main terminal in Houston with additional terminal operations in Dallas, Beaumont, Lufkin, Clute and Galveston (www.jamdistributing.com).
With the sale of JAM to Ridgemont, Mr. Maniscalco will be retiring from the day-to-day operations of JAM. “We recognize the tremendous accomplishments of the company’s founder and retiring CEO, Johnny Maniscalco, in building JAM into the organization that it is today, and we wish Johnny our best going forward,” said Jack Purcell, a Principal at Ridgemont.
Ridgemont Equity Partners (formerly Banc of America Capital Investors) focuses on middle market buyout and growth equity investments of $25 million to $75 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications/media/technology. Ridgemont Equity Partners is headquartered in Charlotte, NC (www.ridgemontep.com).
“We are pleased to partner with senior management of JAM and continue upon the company’s long history of providing industry leading products and services to its customers in several markets throughout the state of Texas,” said Rob Edwards, a Partner at Ridgemont.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-20-12
