The JF Petroleum Group, a leading provider of fueling system solutions, including equipment distribution, maintenance & repair, installation & construction, and general contracting services across North America, announced today that it has acquired Jones Covey Inc. Jones Covey is a premier national general contracting and construction company, headquartered in Southern California, that also provides maintenance & repair and compliance testing services in the Western US. Terms of the transaction were not disclosed. Capital for the transaction was provided by JF’s current shareholders.
Keith Shadrick, CEO of the JF Petroleum Group, stated, “The growing demand for installation & construction services is continuing at an accelerated pace. Our customers desire to partner with solution providers with vast resources, deep inventories, advanced systems capabilities, and highly skilled technicians that can cover broad geographies. The acquisition of Jones Covey will provide our customers with the benefits of partnering with the industry’s most technologically advanced service and construction provider with a nationwide reach. This transformational acquisition creates the industry’s first turn-key solution provider that can reach coast to coast. We are proud to welcome the employees of Jones Covey to the JF family. We are also pleased to welcome Bret Covey and Bob Christie to our leadership team. We also congratulate Brett Crail on his well-deserved promotion to President of Jones Covey, Inc., a JF Company!”
Bob Christie and Bret Covey, the former owners of Jones Covey, Inc., expressed their appreciation for their team’s consistent high-quality performance and reputation for excellence. They also commented that the combination of JF and Jones Covey will bring tremendous benefits to their customers and will provide new opportunities for growth for their team.
Barrett Gilmer, Chairman of JF, stated, “This acquisition solidified JF’s leadership position in the industry and is yet another demonstration of our commitment to bring our customers best-in-class turn-key solutions on a truly national scale.”
