Holmes Oil Company
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Holmes Oil Company - overview
Established
1997
Location
-, NC, US
Primary Industry
Retail
About
Holmes Oil Company specializes in commercial real estate development, having evolved from its initial operations in wholesale fuel distribution and convenience stores, with a focus on creating quality urban and suburban spaces. Holmes Oil Company, founded in 1997 in the United States, initially focused on wholesale fuel distribution and operated 26 Cruizers convenience stores. The company has since pivoted to commercial real estate development. In November 2020, Refuel, Inc.
, a portfolio company of First Reserve, agreed to acquire Holmes Oil Company, with the deal being completed later that year. Holmes Oil Company primarily operates in the commercial real estate development sector, having transitioned from a historical focus on wholesale fuel distribution and convenience store operations. The company previously offered wholesale motor fuels and operated 26 Cruizers convenience stores that served independent dealers and local consumers across various markets in North Carolina and beyond. Currently, Holmes Oil is focusing on developing commercial real estate to meet the rising demand for quality spaces in urban and suburban areas, thereby supporting local economic growth and infrastructure improvements.
Holmes Oil Company's revenue generation is centered around its commercial real estate development activities, which involve partnerships with local businesses and clients seeking property development. Revenue is derived from direct transactions with commercial clients and long-term leases and sales of developed properties. Previous operations in fuel distribution involved transactions based on wholesale pricing agreements with independent retailers and convenience stores. Specific pricing plans and revenue figures for current offerings are not disclosed, but the focus on creating valuable commercial spaces indicates a structured framework for financial transactions that benefit both the company and its clients.
Holmes Oil Company plans to leverage its recent acquisition by Refuel, Inc. to enhance its commercial real estate offerings. Upcoming projects aim to develop innovative commercial spaces tailored for local businesses in urban areas. The company targets expansion in key regions across the Southeastern United States by 2023, aiming to tap into growing markets.
Recent funding will be utilized to support these initiatives and bolster the company’s operational capabilities to meet increased demand.
Current Investors
Refuel Operating Company, LLC
Primary Industry
Retail
Sub Industries
Drug Stores/Convenience Stores, Petroleum Wholesale Distribution, Commercial Property
Website
www.holmesoil.com
Company Stage
Add-on
Total Amount Raised
Subscriber access only
Holmes Oil Company - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Holmes Oil Company | - |
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