Acquisition Announcement: W.F. McCoy Petroleum - Blue Peak Resources

Acquisition Announcement: W.F. McCoy Petroleum

West Palm Beach, FL – March 7, 2024 – Blue Peak Resources, a merger and acquisitions consulting firm, is pleased to announce the sale of W.F. McCoy Petroleum Products of Bridgehampton, NY to Star Group, L.P. 

A family owned and operated business created by William F. McCoy in 1928, two generations of McCoy’s have continued managing and growing this Hampton’s oil provider. Run by Albie (Albert E. McCoy Jr.), William’s grandson, he understood the importance of great customer service and over the years built a strong, reliable, high-quality oil heat provider that has become the gold standard of local oil companies. “Selling W.F. McCoy was a difficult and emotional decision. Growing up in a family business that my grandfather started has so many memories that I will cherish forever. I couldn’t be happier with entrusting Blue Peak Resources to sell my business, their care and attention to detail was incredible. In choosing Star Group, we couldn’t be happier with both their reputation on the south fork of Long Island and the team they have built,” said Albie McCoy.

Anthony Silecchia, Vice President of Star Group commented, “We are honored to be entrusted with the legacy that the McCoy Family has built over nearly 100 years of servicing the South Fork of Long Island. We are excited to welcome the team from McCoy to the Star Group family. Together, we look forward to providing continued seamless and premier service that McCoy customers have been accustomed to.”

“Albie has done a tremendous job carrying on his grandfather’s vision, a business that focused on serving their customers with quality service. Star Group was the natural fit to continue the decades of excellence Albie, his dad and grandfather provided to the communities they served. It was a pleasure working with the McCoy family to help them reach their personal and business goals,” said John Armentano, Partner at Blue Peak Resources.

Blue Peak Resources, an advisor to W.F. McCoy Petroleum, served as the consultant and negotiator of this 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 Star Group

Star Group specializes in the sale of home heating products and services and is the nation’s largest retail distributor of home heating oil. With operations in states throughout the Northeast, Mid-Atlantic and Midwest, Star Group has a suite of regional HVAC and home comfort service brands that serve more than 500,000 residential and commercial customers.

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 for so many years to build. John Armentano and Mike Gioffre began this venture to help family-owned businesses plan for their exit, gain maximum value, and continue their legacy for generations.

Blue Peak Resources

Mike Gioffre