Ocean Capital announced Monday it had acquired the John W. Kennedy Company.
The Kennedy Company is a U.S.-based distributor of equipment to the petroleum services sector.
“Partner with Ocean Capital allows us to build on nearly a century of legacy while maintaining the independence and local leadership our customers and employees value,” said Kennedy Company board chair Kristen Kennedy in a release.
She said the acquisition marks the next chapter for the company, entrusting it to a partner “uniquely positioned to steward its evolution with care, shared values and a long-term vision.”
The company will continue to operate under its existing name and structure as a stand-alone U.S. platform within Ocean Capital’s portfolio.
“This acquisition builds on our long-standing experience in the fuel industry and reflects our long-term approach to investing,” said Keith Mullett, senior vice-president of direct investment at Ocean Capital. “We partner with strong, locally led businesses and focus on preserving what makes them successful. Kennedy Company’s people, culture, and customer relationships are exactly what we look for.”
The Kennedy Company, headquartered in Rhode Island, was founded in 1930.
It’s the oldest Gilbarco distributor in the United States and employs about 60 people at branches across Vermont, Maine, New Jersey and Florida. The company services the fuel and convenience store industry.
“The past 15 months have been transformative for Kennedy Company as we modernized key platforms and strengthened our foundation for long-term growth,” said CEO Tom Cacciola.
“Partnering with Ocean Capital builds on that momentum. With their support and collaboration, we are well-positioned to expand our reach and capabilities while continuing to deliver the excellence and customer service our clients expect.”
Ocean Capital is a privately held company based in Saint John, N.B. It is the parent company of Acadia Broadcasting, the owner of these stations.
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