J.A.M Distributing Co. is buying Jones Oil Inc. and J.B. Jones Oil Inc., which does business as High-Tech Equipment.
Houston-based Jones Oil markets and distributes lubricants, fuel and ancillary products to automotive shops, industrial facilities and private and commercial vehicle fleets. High-Tech, also based in Houston, provides equipment for automotive shops, fleet maintenance and the commercial industrial market. Terms of the deals were not disclosed.
J.A.M, which is backed by private equity firm Ridgemont Equity Partners, distributes lubricants, fuel, base stock and ancillary products for the industrial, commercial vehicle, passenger vehicle and marine markets.
Charlotte, North Carolina-based Ridgemont focuses on investing in middle market energy, health care and telecommunications companies. The firm closed a $735 million fund in April 2013.