West Palm Beach, FL – November 15, 2021 – Blue Peak Resources, a merger, and acquisitions consulting firm, is pleased to announce the sale of Affordable Propane Gas Corporation of Fort Morgan, Colorado, to DCC Propane of Lisle, Illinois.
Founded in 2004 by David and Tina McKay, Affordable Propane is a veteran and family-owned propane company that services Denver and the surrounding areas of Colorado. The McKay family has been entrenched in the propane industry for more than 31 years. David began this company after he saw a need to provide affordable propane and quality services for customers in this area.
“We can’t thank the Blue Peak Resources team enough for all they did to prepare us for the best possible outcome,” David said. “They truly cared and found us the perfect match in DCC. Knowing that our customers and employees are in such good hands is a relief. Now Tina and I can enjoy traveling, our family and whatever comes next.”
“Dave and Tina have worked so hard for so many years; it is rewarding to see their legacy continue under the DCC label, said Mike Gioffre, a partner with Blue Peak Resources. “This is a huge win for both companies and more importantly for the customers they serve. We are honored they selected us to help them in this process!”
“Working with both Affordable and DCC Propane has been a pleasure,” added John Armentano, a partner with Blue Peak Resources. “I am so happy to see Dave and Tina finally get an opportunity to relax and enjoy the next chapter of their lives.”
The deal, which was finalized on November 1, includes Affordable Propane’s two locations in Fort Morgan and Commerce City, Colorado, along with approximately a dozen of its vehicles.
“This acquisition is a great strategic addition to our existing business and will allow us to accelerate our growth in this attractive high-growth market,” said DCC Propane CEO Matt Dantinne. “We will be expanding our customer base by over 2,000, bringing our total number of customers in Colorado to more than 11,000. We will bring our safe, reliable and experienced approach to serving our new customers in this market.”
DCC Propane General Manager Jason Foster will oversee the daily operations at both of Affordable Propane’s locations.
“This acquisition is really exciting because it strengthens our presence in Colorado,” Foster said. “Affordable Propane’s service area includes some very rural locations that depend on propane, so this means there is a great opportunity for growth.”
Affordable Propane joins Blue Flame Propane and Enviro Gas as the third Colorado-based acquisition for DCC Propane since the start of 2020. Deluca Gas, a fourth DCC-owned location in Colorado, is headquartered in Poncha Springs.
About DCC Propane – WWW.DCCPROPANE.COM
DCC Propane, LLC, a division of DCC plc, has served communities for more than 70 years providing propane for residential, agricultural, commercial, and industrial uses and water conditioning services since 1962. Currently, DCC Propane, LLC employs more than 900 people in 22 states but has succeeded in maintaining a strong family feel with an unwavering commitment to world-class safety standards and customer service.
About DCC plc:
DCC plc is a leading international sales, marketing, and support services group with a clear focus on performance and growth. DCC is an ambitious and entrepreneurial business supplying products and services used by millions of people every day. The Group operates across three markets: energy, healthcare and technology, employing 14,200 people in 21 countries. DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2021, DCC generated revenue of £13.4 billion and operating profit of £530.2 million. For more information, please see www.dcc.ie.
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 company they have worked so many years to build. John Armentano and Mike Gioffre began this new venture to help family-owned propane and fuel oil businesses plan for their exit, gain maximum value, and continue their legacy for generations.