U.S. Venture has been an investor in BreakthroughFuel since 2006, steadily buying more of the business over the years. BreakthroughFuel will operate independently within the U.S. Venture portfolio of companies.
The addition of BreakthroughFuel fits well with U.S. Venture’s goal of diversifying its business, John Schmidt, CEO and president of U.S. Venture, said in statement.
“I’m excited about the ways our companies will partner to pursue products and services that are relevant for the future,” he said.
Headquartered in Appleton, U.S. Venture is a leading distributor of petroleum and renewable energy products, lubricants and tires, and parts for the automotive aftermarket.
Founded by Craig Dickman in 2004, BreakthroughFuel is an energy and supply chain management company that helps shippers cut energy costs and consumption while reducing emissions. In 2018, the company helped its clients eliminate more than 8.9 million gallons of diesel fuel from their supply chains and reduce their collective carbon footprint by more than 90,000 metric tons of carbon dioxide. Dickman stepped down as CEO in 2018; he now serves as managing director of TitletownTech.
Doug Mueller, who became CEO and president of BreakthroughFuel when Dickman left, will continue in that role and join U.S. Venture’s senior leadership team to help with collaboration between the businesses.
“We truly believe that our partnership with U.S. Venture best positions us to realize our long-term strategic goals,” Mueller said in a statement.
The acquisition will not change BreakthroughFuel’s plans to build a new corporate headquarters in Green Bay’s shipyard development.