TAC Energy: TAC Energy Buys Assets of Mutual Oil of Massachusetts

TAC Energy of Dallas, a division of The Arnold Companies, founded a half-century ago in Texarkana, Texas, has bought the wholesale unbranded assets of Mutual Oil Co. Inc. of Brockton, Massachusetts.Neither of the privately held companies disclosed financial terms, but TAC said the purchase signals a concerted move into New England and the northeastern United States."The Mutual Oil acquisition is another facet of our overall growth strategy and establishes a strong base of business in New England," said TAC Chairman and CEO Greg Arnold. TAC Energy, which opened a regional Northeast sales office in February, said it will maintain sales and customer associates who worked for Mutual."We are keeping key personnel in place and layering in our national coverage, financial strength and information technology," TAC Vice President and Chief Operating Officer Fred Sloan said. "We will be offering customers in New England and the Northeast the most complete fuel supply and service packages of any independent supplier."The Arnold Companies, founded by Truman Arnold, who became a Conoco agent in Texarkana in 1964, is one of the nation's largest independent fuel distributors, owning a huge petroleum storage terminal in West Memphis and operating a joint venture, Arkansas Terminaling and Trading, with Coulson Oil Inc. of North Little Rock. TAC Air, the Arnold aviation division, has 14 fixed base operations selling fuel and offering other services at 14 American airports, including Clinton National Airport in Little Rock and airports in Fort Smith and Texarkana.Steve Shaer, Mutual Oil's executive vice president, said his company's main concern was to make sure customers would be "taken care of by a like-minded supplier" that would keep the people customers "are used to working with."