Newly formed Next Generation Energy Logistics will work with equity firm Riverstone Holdings LLC to acquire and consolidate lubricant and fuel distributors.
Perot Bissell, Michael Crosby and Belinda Foxworth formed Next Generation Energy Logistics. Bissell was one of the founding investors of independent fuel and lubricants distributor Maxum Petroleum, serving as its CEO from 2006 until 2012. The company completed more than a dozen acquisitions of lubricant and fuel marketers and facilities over that time. Crosby served as president of Maxums commercial and industrial division, and Foxworth served as General Counsel. Maxum Petroleum was sold to Pilot Flying J in August 2012.