Cardwell Distributing of Midvale has been sold to RelaDyne, a provider of lubricants, fuels and services for industrial, commercial and automotive businesses based in Cincinnati. Cardwell is also a distributor of lubricants and fuels and was founded in Utah in 1964. Cardwell has locations serving over 3,000 customers in Colorado, Idaho, Nevada, Utah and Wyoming.
Cardwell Distributing of Midvale has been sold to RelaDyne, a provider of lubricants, fuels and services for industrial, commercial and automotive businesses based in Cincinnati. Cardwell is also a distributor of lubricants and fuels and was founded in Utah in 1964. Cardwell has locations serving over 3,000 customers in Colorado, Idaho, Nevada, Utah and Wyoming.
The acquisition of Cardwell represents RelaDyne’s first expansion west of the Rocky Mountains, and RelaDyne leadership is fully committed to supporting the Cardwell management team with industry expertise and resources to continue Cardwell’s expansion into greater geographies and markets, according to a release from the company.
“Cardwell is a significant geographic expansion into the western U.S. for RelaDyne,” said Larry Stoddard, RelaDyne president and CEO. “Cardwell has a long history, a great team and a strong culture, which are all positive attributes as we expand our geography. We welcome the entire Cardwell team to the RelaDyne family of companies and are truly excited to partner with this talented group to significantly grow the business both organically and through acquisitions.”
Bill Rawson, Cardwell Distributing CEO, will continue his leadership over RelaDyne’s Cardwell locations and ensure a smooth transition for both employees and customers. “RelaDyne is a great fit for our customers, our employees, our vendors, our community and our desire to grow our business into the future,” said Rawson. “With RelaDyne as our new partner, we will have the resources needed to allow our great team of employees to continue to grow our business, our service offering and our geographic footprint. It is clear that the history and heritage of Cardwell, our values and the culture we have built over generations perfectly aligns with those of RelaDyne. Our team is extremely excited about the partnership and the opportunities that lie ahead.”
“RelaDyne continues to be the acquirer of choice as we build a national distribution platform for lubricants, fuel and reliability services,” said Jeff Hart, RelaDyne’s customer service officer leading the company's merger and acquisition activities. “We always strive to acquire leading businesses with great people and great customers, and Cardwell is an excellent example of a perfect fit. This acquisition provides a strong framework for us to expand our platform of products and services to an entirely new customer base plus opens a gateway for further acquisition opportunities to enhance our density in the region.”
Cardwell is RelaDyne’s sixth acquisition of 2016 and the first in partnership with Audax Private Equity.