Heartland Co-op acquires Legacy Propane

June 1, 2026 By Mason Kopy 0 Comments

Heartland Co-op, headquartered in Clive, Iowa, has acquired Legacy Propane of Allison, Iowa. Legacy Energy Consulting, a mergers and acquisitions consulting firm, advised on the sale.

Legacy Propane was originally established as Allison Propane in 1972. The company became part of Heritage Petroleum of Evansville, Indiana, through its acquisition of Diamond Oil in February 2025.

“We have bought 25 companies in 12 years but had never sold anything,” says John Clark, COO of Heritage Petroleum. “The Legacy Energy team presented, then executed a plan seamlessly to make our first selling experience a success. I would not only use them again, but I would recommend them to other companies looking to execute a transition.”

Chad Pendill, founder and president of Legacy Energy Consulting, said the transaction proceeded smoothly from start to finish.

“John Clark and Phil Davidson of Heritage Petroleum were a pleasure to work with on this project and it could not have gone any smoother,” says Pendill.

Legacy Energy Consulting provided comprehensive merger and acquisition advisory services throughout the transaction. Services included business valuation, confidential marketing to prospective buyers, management of a structured sale process, negotiation of the final transaction terms and oversight of the due diligence process.

The transaction was managed by Chad Pendill, Tyler Pendill and Dustin Shafer.

The sale marks Legacy Energy Consulting’s first completed transaction of 2026 and its 28th transaction since 2020.

About Legacy Energy Consulting

Legacy Energy Consulting was established in 2020 by Chad Pendill and his son Tyler Pendill. The firm specializes in offering merger and acquisition services to propane and refined fuel businesses across the nation. Legacy Energy Consulting is a family-owned business that aims to provide guidance to other family-owned businesses during the sale of their business.

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