Nautical Ventures Group buys controlling interest in LukFuel
Nautical Ventures Group
January 17, 2014
Filed under News
DANIA BEACH, Fla. – As part of their on-going strategy for growth in the South Florida recreational marine market, Nautical Ventures Group has purchased a 51% stake in LukFuel, a South Florida direct-to-dock fuel delivery company.
“Since the formation of Nautical Ventures Group last year, we’ve been looking for the right business components to make us a single source supplier for the local South Florida marine community,” notes Roger Moore, CEO of Nautical Ventures Group. “Our local boating market is ripe for an economic rebound and we’re establishing a strong foundation on which to build our organization upon. Adding LukFuel to our portfolio gives us a valuable component on the service side of our business.”
This move comes on the heels of the recent opening of a new 30,000 Sq. Ft. state-of-the-art retail showroom and service center and last year’s acquisition of River Bend Marine Center.
As a result of this partnership, LukFuel’s local fleet of 4 tanker trucks will double over the course of 2014 and they will be expanding into new market segments with bulk fuel delivery programs tailored to select, hi-usage clientele. According to LukFuel, “Our growth has been exponential these last few years, and now with the help and industry connections that the Nautical Ventures Group can provide, we estimate our sales will triple over the next 12 – 18 months.”