Universal Oil, Inc. has sold their business to an Employee Stock Ownership Plan (ESOP). Terms of the transaction were not disclosed.

EdgePoint Capital initiated the transaction, led the negotiations, identified key management talent, and served as exclusive financial advisor to Universal Oil, Inc. EdgePoint is a leading investment banking firm focused on providing lower and middle market business owners with merger and acquisition advisory services.

Founded in 1908, Universal Oil, Inc. is the premier distributor of fuels and oils to leading manufacturing companies throughout Ohio. The company is based in Cleveland, Ohio. The new ESOP was funded by KeyBank.