Waud Capital Partners

Industry:	Logistics / Specialty Distribution – Petroleum and lubricants
Headquarters:	Greenwich, Connecticut
Date of Investment:	April 2004
Fund:	WCP Fund II, WCP Fund I
Date of Exit:	January 2009 (Recapitalization Transaction)
Website:	maxumpetroleum.com
Areas of Acquisition Focus Petroleum products marketing and service providers in North America
Add-on Acquisitions DeCristo Oil - February 2011 Beard Oil - December 2010 Mid-State Industrial Lubricants – August 2009 Paulson Oil Company – December 2007 Farmington Oil Company – November 2007 Lubricant blending facility – November 2007 Petroleum Products – May 2007 Transport Services of Oklahoma – October 2006 Canyon State Oil Company – September 2006 Pecos – September 2006 McLain Truck Service – June 2006 Hartney Companies – January 2006 Trevco – June 2005 Simons Petroleum – April 2004
Related News 02/11 Maxum Petroleum Completes Purchase of DeCristo Oil 08/09 Maxum Petroleum Acquires Mid-State Industrial Lubricants Company 12/08 Maxum Petroleum Receives $300MM Investment from Metalmark Capital and WCP 12/07 Maxum Petroleum Acquires Paulson Oil 11/07 Maxum Petroleum Acquires New Mexico & Panama Facilities 05/07 Maxum Petroleum Announces Acquisition of Leading Petroleum Marketers 09/06 Acquisition of Two Leading Fuel and Lubricant Distribution Businesses 06/06 SPI Petroleum Acquires McLain Truck Service 01/06 WCP and SPI Petroleum Announce the Acquisition of the Hartney Companies 06/05 Simons Petroleum Acquires Trevco 04/04 Simons Aims to be Biggest Oil Marketer 04/04 WCP Completes Investment in Simons Petroleum

“Waud Capital has added tremendous value as an investor and partner for Maxum. In addition to providing capital to support our growth, WCP has assisted us with recruiting, upgrading our corporate infrastructure, and sourcing attractive acquisition candidates. WCP’s extensive experience in consolidating industries has helped our management team successfully close and integrate 11 acquisitions in a four-year period.”

Perot Bissell
Chief Executive Officer