Dixie Fuel is headquartered in Newport News, Virginia, and supplies propane to over 1,300 customers in the Virginia Peninsula. Mr. Able Propane distributes propane and HVAC equipment to over 3,000 customers in the Richmond, Virginia, region.
The acquisitions add to Revere Gas’ bulk storage facilities and add new personnel, according to Matrix Capital Markets Group, the middle-market investment bank that advised the merger. It also increases Revere Gas’ reach in eastern and central Virginia, and it expands its services to over 26,000 customers, Matrix adds.
“In our talks with Dixie and Mr. Able, they liked our family-first approach to customer service and took great comfort in knowing their customer base will be well taken care of,” says Carlton Revere, president of Revere Gas. “Our size gives the customers advantages in service, price protection plans and delivery options.”