Evermore LTH acquires Peak Propane

March 13, 2026 By Sydney Fischer 0 Comments

Evermore LTH has acquired Peak Propane in Bellefontaine, Ohio. FuelExchange, the mergers and acquisitions service of Gray, Gray & Gray, represented Peak Propane in the transaction.

“Peak Propane is a well-run business with solid fundamentals,” says Marty Kirshner, who leads Gray, Gray & Gray’s energy practice and the FuelExchange team. “Our job was to make sure its value was clear and fully recognized in the market. Every deal is different, and success comes from understanding both the numbers and the people behind the business. By positioning the company carefully and following a focused process, we showcased Peak Propane’s strengths and achieved a result that matched Jenna and Patrick’s personal goals and the business’s long-term interests.”

Don and Mary Heiby started Peak Propane, originally known as Heiby Oil Co., in January 1951, serving fuel oil, farm and commercial customers in Logan County. In November 1975, Heiby Oil Co. was purchased by Donald James and his wife to complement their operations in Lima, Ohio.

In August 1992, Heiby Oil Co. entered the propane market and steadily grew the territory to cover five counties. In December 2006, the company sold its business to the family’s oldest son, Dave. In 2020, the company sold the gasoline and diesel bulk fuel portion of the business to R.D. Holder of New Carlisle, Ohio. In 2021, the company changed its name to Peak Propane.

“Selling a business is a long, nuanced process, and Marty knew exactly when to push and when to pull back,” says Patrick James, son of the late Dave James and current owner of Peak Propane. “He uncovered value we didn’t even realize was there, and the final sale exceeded our expectations. It was a true win‑win.”

FuelExchange assists those interested in buying, selling or merging a propane, fuel oil, HVAC or plumbing business. The company helps identify potential partners, market companies for sale, determine business valuation, manage transactions and develop post-sale financial and operational strategies.

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