Blueox Corp. acquires Ace-Robbins
Blueox Corp. of Oxford, New York, acquired Ace-Robbins of Tunkhannock, Pennsylvania. Cetane Associates assisted in the transaction, which closed on June 6.
About Ace-Robbins
Ace-Robbins began in the 1940s, when James Ace operated several businesses in the Tunkhannock area, including feed, farm supply, fuel and appliance sales. In 1956, Frank Robbins joined as manager, and by 1964, the two became partners and officially formed Ace-Robbins.
Since 1982, Ron and Abby Kukuchka have owned Ace-Robbins, and have grown the company through strategic acquisitions and expanded product lines to serve their community’s energy needs. They added propane delivery and service, an appliance showroom and a team of trained propane and fuel technicians.
“Selling our business was a big decision, but we’re confident that the company and our customers will be in good hands with the new owners,” says Ron Kukuchka. “Working with Cetane made the entire process a success – they guided us every step of the way and made what could have been an overwhelming undertaking into a thorough and successful transition process and great experience.”
About Blueox
Blueox is a full-service energy provider, offering propane, bioheat fuel oil, kerosene, diesel and gasoline delivery. They also install and service heating and cooling systems, including furnaces, boilers, water heaters and air conditioning units.
“We are thrilled to be acquiring such a wonderful company with a rich history and deep ties to the community,” says Jared Bartle, president at Blueox. “We are committed to honoring the legacy that has been built and will continue to provide the same great service and care that customers have come to expect for years to come.”
Cetane assists
Cetane served as the sole arranger to Ace-Robbins. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiating the final deal terms and coordinating the due diligence process.
“It’s been an absolute pleasure and honor working with Ron and Abby,” Joe Rosengrant, director of business development at Cetane Associates, says. “They’re not only great business owners but truly wonderful people who built something special. We wish them all the best in this next chapter of their lives.”
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