First Reserve Partners completed the investment in Palmdale Oil.

First Reserve Partners, a private equity firm exclusively focused on investing across diversified energy, infrastructure, and general industrial end-markets, completed the investment in Palmdale Oil, a statewide provider of fuels, lubricants, and chemicals with delivery and management solutions. Financial terms were not disclosed. "This partnership with First Reserve provides us with additional financial resources and expertise to execute on our long-term vision for growth and innovation that will benefit all of our customers. We believe there are a number of actionable opportunities to thoughtfully expand our business and we are confident that together, we can build on our momentum and deliver Palmdale's trusted services and solutions to more customers," Lachlan Cheatham, Palmdale Oil CEO.