Scott Petroleum Corp. announced Thursday that it has been purchased by C&S Fuels LLC of Newport, Arkansas.
The sale was completed July 15 for an undisclosed price.
“I would like to express my sincere thanks to the over 300 dedicated employees who have worked diligently to help make Scott Petroleum such a success and also to our customers for their loyal patronage,” Solon Scott Jr., the company’s president, said in a prepared statement.
When considering a buyer, Scott Petroleum said it was looking for one with similar operating philosophies.
“It was important to the Scott family to search out a company that would have the same devotion to its customers, employees and community that Scott Petroleum has created in its 86 years of operation,” the statement said.
C&S Fuels distributes fuels and propane in Arkansas and Mississippi. As with Scott Petroleum, it is family-owned, the statement said.
The purchase, according to the statement, will allow Scott Petroleum to “broaden its strength with the management resources and experience that C&S Fuels LLC will bring to the organization.”
Scott Petroleum said that there will be no change to its name and it will continue to operate out of its Itta Bena headquarters. The management team will also remain intact, with Solon Scott Jr. staying on temporarily in an advisory capacity.
“If they want to know something, they can ask me,” the 84-year-old businessman said.
In 1957, Scott assumed the leadership of the company that was started by his father, Solon Scott Sr., as Scott Butane Gas Systems. Solon Sr., according to his son, was the second businessman to start a butane company in Mississippi. He operated it until his death in 1955.
Two years later, while Solon Jr. was studying business at Delta State University, he got a call from his overwhelmed mother.
“Solon, come home and help me run the business or I’m going to sell it,” Scott recalled his mother saying.
At the time, the company consisted of two butane trucks and a service truck.
Scott’s younger brother, Steve,…
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