Private equity firm Trive sued over alleged fuel infrastructure scheme
The lawsuit, opens new tab from JF Petroleum Group said Trive, Seneca Companies and OWL Services used acquisitions to consolidate U.S. pump distribution and servicing for years and conspired to block JF from the market in Iowa and southern Illinois, in violation of U.S. antitrust law.
The defendants also tried to curtail Casey's, the third largest convenience store chain in the United States, from doing business with JF Petroleum, according to the complaint.
Dallas-based Trive, which boasts more than $8 billion in investments under management, in a statement said "the case and claims against Trive, OWL Services and Seneca Companies are without merit" and and said they would fight the lawsuit.
A lawyer for JF Petroleum at law firm McGuireWoods did not immediately respond to a similar request.
North Carolina-based JF Petroleum distributes and services pumps for gas and diesel at major retail stations across the country.
The lawsuit escalates a feud between Trive's Seneca, which provides fueling equipment and support services, and rival JF Petroleum.
Seneca is suing JF Petroleum in a separate lawsuit, accusing it of interfering with existing and potential agreements with customers and employees. JF Petroleum has denied the allegations.
JF Petroleum in its lawsuit said it had invested millions of dollars to expand into Iowa and Southern Illinois, but 'has faced unlawful obstacles at every turn.'
The lawsuit seeks unspecified monetary damages and a court order that would stop the alleged anticompetitive business practices.
The case is JF Acquisition LLC v Seneca Companies Inc et al, U.S. District Court for the Southern District of Iowa, No. 4:25-cv-00104-SHL-WPK.
For plaintiff: Nicholas Giles of McGuireWoods, and Samuel Jones of Shuttleworth & Ingersoll
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wales Online
7 minutes ago
- Wales Online
Persimmon sells more homes but warns mortgage costs still a ‘barrier' to buyers
Persimmon sells more homes but warns mortgage costs still a 'barrier' to buyers The York-based developer told investors that it was on track to meet its yearly sales target despite tough conditions in the housing market. (Image: © 2025 PA Media, All Rights Reserved) Housebuilder Persimmon said it has sold more homes this year but warned that still-high mortgage rates and rising household costs were making it less affordable for buyers. The York-based developer told investors that it was on track to meet its yearly sales target despite tough conditions in the housing market. It completed the sale of 4,605 homes in the first half of 2025, 4% more than the same period last year. The average sale price of a home jumped by 8% to about £284,000. Persimmon is expecting to complete the sale of between 11,000 and 11,500 homes this year, and around 12,000 in 2026. Forward sales, meaning homes ordered but not yet bought, were up 9% on the prior year, the company revealed. Chief executive Dean Finch said he was "pleased that we have continued to grow in the first half of the year despite challenging market conditions and with affordability still an important constraint". This was particularly affecting first-time buyers, who represented about a third of the group's private sales this year. Mortgage rates have reduced since the Bank of England has been lowering its base level over the past year, but they remain at "levels that still present a barrier to many potential customers", the builder cautioned. Article continues below Furthermore, a raft of rising household costs, including council tax, stamp duty, and energy bills – have weakened affordability for many. Persimmon said the prices of its homes were lower than its biggest rivals and it had improved its range of affordable homeownership options like shared equity. It also highlighted "positive developments" in the market this year including pay rises helping improve affordability for some buyers, and the easing of some mortgage lending rules.
Scottish Sun
37 minutes ago
- Scottish Sun
Scots business announces sudden closure after 40 years
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A SCOTTISH business has announced its sudden closure after nearly 40 years. Bin cleaning firm WF Cleanbin based in Dunfermline, Fife, is closing down. Sign up for Scottish Sun newsletter Sign up 2 A Scottish bin cleaning company is closing down for good Credit: Getty Owner David Forrester is set to retire from the business. He has decided to shut down the company due to health issues and age. In a statement, he thanked customers for their support over the past 40 years. And has urged people to cancel any standing orders they may have with the company. WF Cleanbin employed four people. David said in a statement: "After nearly 40 years of cleaning bins in Fife, and due to health issues, and also age, I am unfortunately having to retire from work, so will close down my company. "I would like to thank all customers for the support given over the years. "Please cancel your standing order payment from now. The account is in the process of closing down over the next few days. "Due to not taking payment in advance, no customers will lose out. "Once again I thank all customers for the support given over four decades." Scots firm plunges into liquidation after 200 years in business Elsewhere in Fife, a major Scottish construction firm is set to go into liquidation. Pittsburgh Fife Limited, based in the coastal town of Dalgety Bay, is on the brink of collapse. And a manufacturer has plunged into administration with the loss of more than 80 jobs. Fife-based Greenfold Systems Ltd supplied parts to bus company Alexander Dennis. But the withdrawal of its contract supporting Alexander Dennis Ltd has left the company "unsustainable".
Western Telegraph
40 minutes ago
- Western Telegraph
Tui cheers profit jump despite pressure from heat waves and Middle East conflict
Bosses at the firm stressed that the group has been boosted by its recent growth strategy. The German-based tour operator saw profits surpass expectations after positive trading from its cruises and experiences operations. The update came a day after the company upgraded its financial forecasts for the current year. Our strategy is paying off. We are benefiting from our integrated and diversified business model and managed to reduce the group's seasonality further Tui Group chief executive Sebastian Ebel Tui Group chief executive Sebastian Ebel said: 'The third quarter and the first nine months of the financial year 2025 were strong. Our strategy is paying off. 'We are benefiting from our integrated and diversified business model and managed to reduce the group's seasonality further. 'All this in a continuing challenging environment for our markets and airlines segment with economic difficulties in Europe, Europe-wide heat waves in the summer and the conflict in the Middle East.' The company said summer bookings in its markets and airlines business are down 2% year-on-year. Tui said this has been driven by a continued trend towards late bookings, citing 'the impact of the June and July heat waves in our source markets, as well as the Middle East conflict'. £278 million Tui's underlying earnings for the quarter to June 30 But it highlighted a 'positive start' to bookings for the winter season. It came as Tui cheered record underlying earnings for the quarter to June 30, rising to 321 million euros (£278 million) from 232 million euros (£201 million) a year earlier. This was supported by a 56.2% jump in earnings from its cruises business, which was buoyed by the launch of two new cruise ships and strong trading conditions. Meanwhile, earnings in its Tui Musement activities and experiences business were up 6.8% for the quarter. The company said total underlying earnings are now on track to grow by between 9% and 11% this year. It previously forecast growth of between 7% and 10%. Tui told shareholders that total group revenues increased by 7.1% to 6.2 billion euros (£5.4 billion) for the quarter, amid growth in both volumes and prices.
