Add-on Acquisition • Construction

JF Petroleum Group Acquires Jones Covey

On November 1, 2023, JF Petroleum Group acquired construction company Jones Covey

Acquisition Context
  • This is JF Petroleum Group’s 5th transaction in the Construction sector.
  • This is JF Petroleum Group’s 10th transaction in the United States.
  • This is JF Petroleum Group’s 1st transaction in California.

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M&A Deal Summary

Date November 1, 2023
Target Jones Covey
Sector Construction
Buyer(s) JF Petroleum Group
Deal Type Add-on Acquisition

Target Company

Jones Covey

Rancho Cucamonga, California, United States
Jones Covey is a general contracting and construction company provides maintenance & repair and compliance testing services. Jones Covey was founded in 2006 and is based in Rancho Cucamonga, California.
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Buyer Overview 1

Buyer

JF Petroleum Group

Morrisville, North Carolina, United States

Category Company
Founded 1945
Sector Distribution
DESCRIPTION

JF Petroleum Group is a turnkey solution provider to the North American fueling infrastructure industry. The company distributes, installs, and services fueling equipment for retail fueling stations, commercial and government fleets, and emergency power customers. JF Petroleum Group was founded in 1945 and is based in Morrisville, North Carolina.


Deal Context for Buyer #
Overall 10 of 12
Sector: Construction 5 of 6
Type: Add-on Acquisition 10 of 12
State: California 1 of 1
Country: United States 10 of 12
Year: 2023 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-02 Star Construction

Johns Island, South Carolina, United States

Star Construction is a full service environmental excavating and petroleum equipment installation company specializing in C-Stores and bulk storage. Star Construction is based in Johns Island, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-12-19 Reliable Construction Services

Dayton, Ohio, United States

Reliable Construction Services is a Midwestern U.S. general contracting, petroleum services, and construction company that serves industrial, municipal, governmental, and commercial accounts and has widened its service area to include the tri-state area of Ohio, Kentucky, and Eastern Indiana. Areas of expertise include installing and testing fuel system equipment from industry leaders such as Gilbarco, Veeder-Root, Xerxes Tanks, OPW, and others; general construction services from state-certified installers; precision line testing to meet annual compliance regulations; engineering consulting services to design efficient systems with low maintenance requirements; and ongoing service and support of the facilities and fueling systems. Reliable Construction Services is based in Dayton, Ohio.

Buy -