Marlboro Development Team acquires local oil company
Marlboro Development Team Inc. (MDT), a wholly owned, for-profit subsidiary of Marlboro Electric Cooperative (MEC), announces the acquisition of Bennettsville’s Preston Moore Oil Co., which will now be known as “MPD Energy.” Founded in the 1950s by Preston Moore, Ray Patterson started out driving one of the field delivery trucks. He worked his way up to keeping the books and assisting Mr. Preston until 1977, when he purchased the company. Family run ever since, daughter Janet Patterson Sides joined in 1990, followed by husband Rusty in 1991. Their son, Raymond Sides, VP of Operations, officially became part of the family venture in January 2014, sharing that, “I grew up here. Go to school, come to the bulk plant after school, get your homework done and play in the yard. I’d sit in the trucks and pretend to drive them.” After the acquisition is complete, the three Sides, along with their three employees will stay on and grow along with MPD Energy with the addition of several new employees. “We are so excited to have the former Preston Moore Oil Company, now MPD Energy, and its employees join Marlboro Development Team,” stated MDT president and CEO William Fleming. “This opportunity is exactly the sort of strategic alliance that helps not only our companies, but the greater community of South and North Carolina, the region we will continue to serve.” “You couldn’t ask for better or a more talented group of people,” Raymond Sides added. “Marlboro Electric and Pee Dee Electric (MPD) have been top partners of ours for years. To be acquired and work with the Marlboro Development Team as MPD Energy is an opportunity of a lifetime.” Marlboro Development Team Inc. (MDT) is a South Carolina-based developer and operator focused on single tenant build-to-suits, value-add acquisitions and strategic investments throughout the U.S. With over 100 years of collective development experience, the MDT senior management team has a proven track across a range of successful projects including retail, industrial and commercial ventures.