It is reported that the petroleum and diesel transportation company that will be acquired also has a branch/depot in Tampa, Florida and delivers to clients such as BJ Stores and major retail service stations; the acquisition includes all existing clients, a fleet of 10 tanker trucks and a transfer station.
The acquisition will be financed with a combination of corporate funds on hand, seller financing and a block of restricted stock (restricted for two years).
Ariel Rodriguez, president of Capital Oil & Gas, said: I am extremely excited with this acquisition as it adds another dimension to our company. Capital Oil & Gas will continue to pursue any and all acquisitions that will benefit the company and its shareholders as we strive towards our stated growth plans.
