What
was it about Jones Oil and High Tech that got you interested in this
acquisition opportunity? Both Jones and High Tech are well-known for their integrity, quality, safety, and high levels of customer service. We have the utmost respect for the businesses, which have strong and longstanding customer relationships, as well as for JB Jones who has been the owner and CEO for over 40 years and built a pair of incredible businesses. Since Ridgemont’s acquisition of J.A.M. in December 2012, we have continued to seek out high quality growth opportunities, and the acquisition of Jones and High Tech fits perfectly with that goal. What
changes will come as a result of this acquisition? We remain committed to
the longstanding values of quality, safety, integrity, and strong
customer service of our current business and of Jones Oil and High Tech.
The team intends to leverage the best
practices and know-how of both J.A.M. and Jones/High Tech to deliver
increasing levels of customer satisfaction.
What
benefits will the customer see? J.A.M. continues to
invest in technological and process improvements to better serve our
customers.
This acquisition will only further
improve the service levels for our customer base and allow us to deliver
additional value to the companies we serve. That will be the top
priority for us. What
does this acquisition do for J.A.M.? The acquisition will
further J.A.M.’s capabilities and continue to push us along in our quest
to be ‘The Premier Partner for Smart Lubricant and Fuel Solutions.’
Ridgemont’s ownership – particularly,
their financial expertise and strategy at the board of directors level –
has really allowed us to progress at this pace and set high goals for
our business in the future.
What’s next for J.A.M.? We plan to take a very
calculated approach to the integration of Jones Oil and High Tech; but,
at the same time, we continue to look for other high quality growth
opportunities – both organic and through acquisition – in the markets we
serve.
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