West Palm Beach, FL – September 25, 2024 – Blue Peak Resources, a merger and acquisitions consulting firm, is pleased to announce the sale of Freedom Propane, Red Hook, NY, to Combined Energy Services of Monticello, NY.
In 2007, Paul Pagano saw an opportunity to expand his successful industrial and welding gas company. He thought that adding propane would be a great enhancement to his existing business. Taking a risk, Paul bought a bobtail delivery truck and a brand-new service truck. Fortunately, a local propane supplier in Red Hook called G & S Energy decided to sell their plant location, which was in the perfect spot to serve the entire area. Paul seized the opportunity and bought the company. He promptly renamed it Freedom Propane and sold his share in the industrial gas business to concentrate all his efforts on growing the newly acquired propane company.
“I am so grateful to the Blue Peak team for all the help and guidance they provided,” said Paul. “Their ability to navigate me through the process was invaluable. I am very excited about choosing Combined Energy Services for the future of Freedom Propane, my employees and customers.”
“It was an absolute pleasure representing Paul, and it’s very exciting for the Hudson Valley region to witness two first-class, locally owned businesses joining forces,” said John Armentano, Partner at Blue Peak. “I’m thrilled that we could bring these two high-quality companies together.”
Blue Peak Resources, an advisor to Freedom Propane, served as the facilitator and negotiator of the sale. The team provided the financial valuations, prepared the business offering package to potential buyers, and assisted in the negotiations and final deal terms.
Blue Peak Resources, an advisor to Wrightington Gas Inc., served as the facilitator and negotiator of the sale. The team provided the financial valuations, prepared the business offering package to potential buyers, and assisted in the negotiations and final deal terms.
About Combined Energy Services
In 1968, Combined Energy Services was founded as Taylor Oil in the kitchen of Walt and Patricia Taylor. Over the past 55 years, CES has expanded to become one of the largest family-owned companies providing propane gas and heating oil to the tri-state area of NY, PA and NJ. Despite its growth, the company remains dedicated to delivering top-notch customer service around the clock at fair prices, with the industry’s best team.
About Blue Peak Resources
Blue Peak Resources is a full-service consulting firm specializing in propane gas and fuel oil mergers and acquisitions. Clients engage Blue Peak Resources to sell their business or advise them on increasing the value of the business they have worked so many years to build. John Armentano and Mike Gioffre began this venture to help family-owned propane and fuel oil businesses plan for their exit, gain maximum value and continue their legacy for generations.
Blue Peak Resources
Mike Gioffre