HomeMy WebLinkAbout2014 05-21 Yocum Oil Sold MAPLEWOOD REVIEWF :
MAY Z 201
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ownership. Holiday, as and cozwenience
Long -deliberated p• y g
v "We've seen some other Poo-: store franchises, which it' sold
decision has led t0 theg le who were doing thins like. back to Holiday Companies,
f� - p g Y
ither on a national level based out. of Bloomington.
Sale. of Maplewood or on the lubricant side of the Yocum Oil's Holiday stations i
family business business," he said in an' inter- included two in North St. Paul,
pj view last week.. "When we one in Maplewood and one in
'Tim Faklis evaluated. what ,would be. the Inver Grove Heights. According
Review staff best way to serve our custom-: to media reports, Holiday Com-
ers- as well as take what we've panics purchased the Yocum
Longtime Maplewood staple, "been able to do at Yocum and stations for $8 million in April:
Yocum Oil, has been sold. contribute that to what they're Yocum Oil was founded in
Mansfield EnergyCorpora- Linda Baumeister/Review doing, we found some wonder- 1959 by Paul Yocum and his
tion, based out of Georgia, .and Yoeum,0ii truck is parked by the company's .headquarters on ful complements with some wife, Fern, who ran the. bnsi
Minnesota-based Lubrication Stillwater Road in Maplewood of the partners that we chose ness together. At the time, .Paul
Technologies Inc. announced to enter into this transaction - would carry five -gallon pails of
Tuesday, May 6 they have nesses of the family-owned cor- public.with," heating oil to fill. customers' oil
acquired` the commercial fuels, poxation.. Tim Yocum, current CEO This everything -must -go sale
The amount of the.�sale has of :Yocum Oil is set to join the
lubricants, and solutions busi- includes the company'.s nine see Yoeiiin on page 1.3
not yet been disclosed to the : board of directors of the new
YOCUM000"
MAY 2 1 2014
continued from page 1 partners took "months" and ogles' that helped them decide sfield, is looking to use those tion with the new ownership,
they needed to make sure it was than finalizing the sale was ulti- resources to help continue so that it becom'e's, as Tim
a correct tit. mately the best thing for the building a climribing business. Yocum put it; "at minimum,. a.
Ytaj�ks to heat. their homes. A"It was:a very difficult deci business and its customers. ."Our Great Lakes operation seamless�integration"
e4r later, Yocum Oil opened, �s «
Y p . sion, Yocum said. We re They offer them the same has been growing rapidly fox An important aspect to the
a. full-service gas station at the Very proud ,of our. employees type of 'service we've been able the past five years, and this,.was sale is .that employees who have
i,, corner of McKnight and :Still -and proud of our heritage, 'and to provide, and expand on that a great opportunity to acceler- transitioned to the new compa-
water roads in Maplewood.proud of our performance to service with some additional ate that growth," he said in the :nies keep contact with the same
Fern died in, 2011,' and .Pauldate. That's why choosing the service and solutions on a press statement. customers, and Yocum said
passed away just, a year later. right partners to work with was . national level," he said. "They There will still be a large everyone, wants to make sure
i. Fast forward. to 2014,- with so important when deciding to have another layer of technol- number of Yocum employees that familiarity isn't lost.
the company now run by their go down this road." ogy and communication as well on .the payroll under the new
grandson Tim, the third` gen- Ultimately, it was the' apti- as additional resources. management 3 Tim Faklis can be rea�lie'd at
oration of Yocums opted to sell tulle and past success of Mans- Joe Cam bell senior vice �, rria _
Th p J Campbell, , t steps `a to -work^ tfaklis@lillae�ews cam or at 1651 -
after long deliberations They field and Lubrication Technol- president of operations at Man- dnael dig the exmsng opera 748 784.
said discussions on bringing in °_ ;
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