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Star Gas Partners Acquires Businesses in Michigan, New York USA
Friday 11 August 2017

11 August 2017 - US-based home energy distributor and services provider Star Gas Partners, L.P. (NYSE: SGU) has acquired two businesses that further expand its customer base and, in one case, its geographic footprint, the company said.

Star Gas Partners purchased certain assets of one entity in Imlay City, Michigan and another located in Plainview, New York.

The former serves approximately 3,000 accounts with annual volume (propane and motor fuel) of 3.8m gallons, while the latter has roughly 16,800 accounts with annual volume (heating oil, propane, and motor fuel) of approximately 15.5 m gallons.

Additional terms were not disclosed.

Star Gas Partners is a full service provider specialising in the sale of home heating products and services to residential and commercial customers to heat their homes and buildings.

The partnership also services and sells heating and air conditioning equipment to its home heating oil and propane customers and to a lesser extent, provides these offerings to customers outside of its home heating oil and propane customer base. In certain of Star's marketing areas, the partnership provides home security and plumbing services primarily to its home heating oil and propane customer base.

Star also sells diesel fuel, gasoline and home heating oil on a delivery only basis. Star is the nation's largest retail distributor of home heating oil based upon sales volume.

Including its propane locations, the company serves customers in the more northern and eastern states within the Northeast, Central and Southeast US regions.
Details
Date Published: 11/08/2017
Target: Undisclosed companies, one entity in Imlay City, Michigan and another located in Plainview, New York
Country: USA
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Star Gas Partners
Comment:
Terms of the deal were not disclosed

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