JF Petroleum Group Names Jim Bolch Chief Executive Officer
RALEIGH, NC, JULY 20, 2015 – Jones & Frank, a leading value-add distributor, installer and servicer of fueling equipment, today announced that Jim Bolch has been named Chief Executive Officer and will join the Board of Directors, effective immediately. Mr. Bolch will be based in Raleigh.
“We are thrilled that Jim has agreed to lead Jones & Frank at this pivotal point in its development,” said Barrett Gilmer, Managing Director at MidOcean Partners. “Jim’s in-depth knowledge of service organizations, sophisticated business acumen and strategic vision make him the ideal executive to take on this important role. His longstanding track record of driving operational improvements and accelerating bottom line performance will be instrumental as Jones & Frank continues to expand its service business, grow distribution revenue, and further improve upon its nation-leading market share in the industry. We are confident that, with the addition of Jim, we have the right team in place to drive growth and continue to transform Jones & Frank.”
Bolch brings vast experience from a career spanning over 30 years in global industrial and service businesses serving a variety of customer segments. Most recently, he served as President and CEO of Exide Technologies, one of the world’s largest producers and recyclers of lead acid batteries, with operations in more than 80 countries and annual revenue in excess of $3 billion. Prior to leading Exide he was President of the Industrial Technologies Sector of Ingersoll Rand responsible for multiple business lines including air compressors, tools, materials handling, fluid handling and Club Car compact vehicles. He joined Ingersoll Rand from Schindler Elevator Corporation, where was Executive Vice President of the Service Business. Prior to his tenure at Schindler Elevator Corporation, Bolch spent 21 years with United Technologies Corporation (UTC) where he served in multiple roles including Vice President, Operations, for the UTC Power Division and Vice President Global Service Operations for Otis Elevator.
“Jones & Frank is the clear market leader with an impressive distribution footprint, excellent relationships with the largest suppliers and customers in the industry and a highly capable service organization,” said Bolch. “The company operates from a position of strength and has an experienced executive team as well as the most respected sales and operations staff in the industry. We also are fortunate to have excellent support in our majority owner MidOcean Partners. I am excited about the opportunities ahead for Jones & Frank as we continue to position the company for long-term success.”
Jim holds a BS and a Masters in Mechanical Engineering from Tulane University and the University of Florida, respectively.
About Jones & Frank
Based in Raleigh, N.C., Jones & Frank is a leading value-add distributor and provider of repair, maintenance and installation services to the fueling infrastructure industry. The company distributes, services and installs fueling equipment to retail fueling stations, commercial and government fleets and emergency power customers. Jones & Frank
covers the Atlantic Seaboard and Midwest from a network of branch offices and distribution centers including more than 175 highly skilled service technicians. Jones & Frank is a privately held company majority-owned by MidOcean Partners. Jones & Frank represents the premier products in the fueling infrastructure marketplace including Gilbarco/Veeder-Root, VeriFone, Containment Solutions, OPW and Franklin Fueling.