Ferrellgas purchases StarLite Propane

National propane retailer Ferrellgas has acquired StarLite Propane, headquartered in Bay Shore, New York. Terms of the transaction were not disclosed.

Founded in 1982 by John DiBiasi, StarLite Propane is an independent propane distributor and provider of related energy products and services. The company provides service to all of Long Island.

“I am very proud to see Ferrellgas continue to provide our customers with premier service and customer care,” DiBiasi says.

Merger and acquisitions consulting firm Blue Peak Resources, an adviser to StarLite Propane, served as the facilitator and negotiator. The team provided the financial valuations, prepared the business offering package to potential buyers, and assisted in the negotiations and final deal terms.

Blue Peak Resources is a full-service consulting firm specializing in propane and fuel oil mergers and acquisitions. 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.

Earlier this year, Blue Peak Resources served as the financial adviser for Malzahn Gas Service of Sparrow Bush, New York.

Featured image: designer491/iStock / Getty Images Plus/Getty Images