ADDITECH ANNOUNCES ACQUISITION BY OSGOOD CAPITAL
Houston, TX (October 25, 2018) – Osgood Capital today announced the acquisition of Houston-based Additech, Inc. (www.additech.com), the leader in at-the-pump fuel additive merchandising systems. The company’s technology and solution can be added to virtually any fuel dispenser allowing consumers to purchase world-class additives with the ease and convenience of having it blend directly into their fuel – right at the pump. The acquisition comes at an exciting time as the C-store forecourt is seeing record changes with increased challenges as consumers demand quicker services, better product quality as well as increased payment security.
Joseph Levy, Managing Partner of Osgood Capital, said, “I am very excited about Additech’s unique and recently upgraded technology. Its proprietary technology allows its fuel station customer to increase their revenue while giving consumers the opportunity to improve mileage, performance and have their engines run greener. There is a large opportunity working with the management team to capitalize on untapped markets for Additech in the future.”
Steve Miller, Additech’s president, said “We are happy to partner with Osgood Capital and leverage their experience building successful companies. The investment will provide fresh capital enabling Additech to grow our current customer base while attracting new partnerships.”
Additech, Inc., headquartered in Houston, Texas, is the leading outsourced operator of at-the-pump interactive merchandising systems in North America. Additech’s patented systems, installed on over 1,400 fueling positions at over 400 stores, enable fuel retailers to merchandise a variety of products and services to consumers right at the gas pump. The company’s technology seamlessly integrates with fuel dispensers and point-of-sale systems to offer retailers a complete merchandising solution. For over fourteen years Additech has been helping partners offer products for optimum engine performance and reliability, while adding incremental revenue with each transaction.
Additech offers its solutions to fuel retailers on a turnkey services basis, meaning that Additech manufactures, installs, operates, and maintains its equipment on behalf of fuel retailers. Retailers receive a share of Additech’s revenues while Additech is responsible for operating and maintaining the systems.
ABOUT OSGOOD CAPITAL
Osgood Capital Group is a lower middle market private equity firm focused on acquiring unique companies and then working with them to prepare and execute growth through innovation, strategy and investment. We have experience in closing over 30 different acquisitions in diverse industries including plastics, packaging, aerospace, automotive, energy services, electronics, technology, software and consumer products.