Wellspring Capital Management to acquire Cadence Petroleum Group.

Wellspring Capital Management, a private equity firm, agreed to acquire Cadence Petroleum Group, distributor of lubricant and fuel products across the eastern and central United States. Financial terms were not disclosed. "The acquisition of Cadence is an exciting opportunity to build on Wellspring's successful track record in the petroleum products distribution sector which dates back to 2005. We strongly believe that the value of Cadence rests upon the strength of its employees and strategic suppliers," Alex Carles, Wellspring Managing Partner.