GenWorks Group: A Legacy Rebrands for a Diversified Future

CARY, N.C. – February 18, 2026 – In a move that formalizes decades of strategic diversification, COC Properties, Inc. has rebranded as GenWorks Group, Inc. The new name marks a pivotal chapter for the Stephenson family enterprise, aiming to reflect its expanding portfolio while reinforcing its commitment to the business that started it all: Cary Oil.

The change, announced today, is accompanied by a significant leadership transition. Craig Stephenson has moved from Chief Executive Officer to a new role as Executive Board Chair, while Gordon Sinclair, formerly the company’s President and Chief Operating Officer, has been appointed President and CEO. The rebranding and leadership shuffle signal a deliberate strategy to steward a multi-generational legacy into a future that extends far beyond its origins in wholesale fuel.

A New Name for a New Chapter

The creation of GenWorks Group is more than a simple name change; it is the public face of a long-term evolution. The Stephenson family's journey began in 1959 with the founding of Cary Oil, which grew from a single local operation into a regional powerhouse. That success became the financial and operational bedrock for ventures into new sectors, most notably commercial real estate.

The name "GenWorks Group" was chosen to encapsulate this dual identity. "Gen" points to the generational stewardship that has been a hallmark of the family's approach, while "Works" signifies the shared purpose and collaborative effort that connects its diverse operating companies.

"Cary Oil is where our story began, and it continues to shape how we think about community, responsibility, and stewardship," said Craig Stephenson, son and nephew of the company's founders, in a statement. "While our holding company name is changing, our commitment to Cary Oil, its people, and the communities it serves is unwavering. GenWorks reflects our desire to carry that legacy forward with care and intention for the next generations."

Company officials were quick to clarify that the rebrand is confined to the holding company level. The family's foundational businesses, Cary Oil and Mackenan Property Group, will continue to operate under their well-established and trusted names, maintaining their distinct identities and operational independence.

Continuity and Change in Leadership

The leadership appointments underscore the company's strategy of blending family oversight with professional management. Craig Stephenson's transition to Executive Board Chair allows him to focus on long-term governance and family stewardship. The move follows the service of Don Stephenson, who has stepped down as Board Chair but will remain an active member of the board.

The appointment of Gordon Sinclair as President and CEO, effective September 1, 2025, represents a focus on continuity. Having served as President and COO of the former COC Properties, Sinclair brings deep institutional knowledge and operational expertise to the helm. This move is indicative of a broader trend in successful family enterprises, which often seek to install proven, non-family executives in key operational roles to drive professional growth while the family guides the overarching vision and values.

This approach is also mirrored within GenWorks' largest subsidiary. In 2022, Cary Oil appointed R. Mark Maddox as its President and CEO, the first chief executive from outside the Stephenson family in the company's history. These decisions suggest a pragmatic governance model focused on putting the right expertise in place to manage increasingly complex operations, a key factor that distinguishes family businesses that thrive across multiple generations.

The Cornerstone: Cary Oil's Enduring Strength

Despite the holding company's diversification, Cary Oil remains the undisputed cornerstone of the enterprise. Far from being a static legacy asset, the wholesale fuel distributor is in a period of aggressive growth and strategic realignment. Today, Cary Oil is a national leader in refined fuel marketing, serving nearly one thousand independent convenience retailers across 21 states and distributing close to a billion gallons of fuel annually.

Recent moves highlight the company's dynamic strategy. In 2025 alone, Cary Oil executed two significant acquisitions to expand its branded retail network. The company acquired over 90 branded contracts in Indiana, Illinois, and Kentucky from Ricker Oil/Giant Eagle, followed by another deal for eight Shell retailer contracts in the Memphis area from McGinnis Oil.

Simultaneously, the company has sharpened its focus. In a strategic divestment in June 2025, Cary Oil sold its chain of 15 Breeze Thru Markets convenience stores to Sampson-Bladen Oil Co., Inc. This sale allows the company to concentrate its resources on its core wholesale distribution business. To further support this network, Cary Oil recently expanded its partnership with the tech platform Upside, adding 110 new dealer locations to the program designed to help independent retailers enhance profitability and compete in a crowded market.

Building the Future: Mackenan and Real Estate Diversification

The other major pillar of the GenWorks portfolio is Mackenan Property Group, the family's real estate investment and development arm. Established in 2018 under the leadership of President and CEO Kyle Greer, Mackenan represents the most visible aspect of the family's diversification strategy, which began in the late 1990s as they recognized the explosive growth potential of their home turf in North Carolina's Research Triangle.

Mackenan focuses on developing residential, industrial, and mixed-use assets across the Carolinas. Its strategy is deeply rooted in community building, with a portfolio designed to enhance local amenities and create quality living and working spaces. The group's current development pipeline is substantial, consisting of 361,000 square feet of industrial space, 75,900 square feet of retail, 160,000 square feet of office, and over 1,000 apartment units.

Prominent projects underscore this community-centric approach. In Fuquay-Varina, the "East of Broad" mixed-use development is transforming a former homestead into a vibrant hub with retail and Class-A office space. In its home city of Cary, Mackenan has been involved in modernizing key downtown properties, such as "The Center" on Chatham Street, preserving historical character while updating facilities. These tangible investments in brick-and-mortar development demonstrate a long-term commitment to the region that parallels Cary Oil's long-standing community ties.

The rebrand to GenWorks Group, Inc. thus serves as a formal acknowledgment of a reality that has been developing for years. It is a structure designed to support a diversified portfolio, empower professional leadership, and ensure that the Stephenson family's enterprise can continue to build upon its 60-year legacy while creating new value for generations to come.