Gray, Gray & Gray guides Florida propane retailer through family ownership change

May 23, 2025 By Bob Sandrick 0 Comments

Chandler Robertson worked side by side with his father, Robbie, for 18 years at the family-owned Thermotane Propane, a retailer in Sanford, Florida. They were a lot alike and more like friends than father and son or business partners.

So when the time came for Robbie Robertson to turn the business completely over to his son in 2024, they were a little stressed.

“My dad and I were scared to transition because a lot of families get into legal fights and hire attorneys,” says Chandler, who’s now president of Thermotane. “Marty eliminated all of that.”

Robertson was referring to Marty Kirshner, partner at Gray, Gray & Gray LLP, a Boston certified public accounting and financial consulting firm with expertise in the propane field. Thermotane had just entered into a partnership with Gray, and one of their first tasks was to make that ownership transition as smooth as possible.

For the Robertsons, Thermotane was a cherished entity. Chandler’s grandfather Clyde Robertson started the company in 1947. Changing ownership from father to son for the second time was one of the most significant events of their lives.

“It was nice walking through the process with Marty,” Robertson says. “He gave us a lot of options. He provided a lot of peace of mind for my dad.”

Kirshner was thoroughly experienced in guiding family businesses through ownership changes.

“Chandler and his father were both in alignment, and it made it easier,” Kirshner says. “The key to the whole transition was getting Robbie the income stream he was used to and get Chandler the equity he needs.”

Robertson and Kirshner met through the LP Gas Growth Summit, but only indirectly. They never connected at the event, but the summit played a role.

At the 2022 summit in Orlando, Kirshner met Mike Dodd, partner at Propane Ninja in Tampa. Gray, Gray & Gray started providing accounting services to Propane Ninja, and Dodd recommended the accounting firm to Robertson at Thermotane.

Robertson called Kirshner and seemed ready and excited to do business. Kirshner wrote a proposal and sent it to Robertson but never heard back.

Kirshner thought he would run into Robertson at the 2023 summit, also in Orlando. Robertson was scheduled to attend but didn’t show up due to family obligations, although at the time Kirshner didn’t know the reason.

Kirshner figured he would never see Robertson again. Then, later in 2023, Kirshner spoke at a National Propane Gas Association event in Kansas City. When he finished his presentation, Robertson approached and reintroduced himself.

“I said, ‘You ghosted me!’” Kirshner says. “Chandler just laughed and said, ‘I’ve been busy.’ We’ve been talking ever since.”

In addition to helping with ownership succession, Gray provided Thermotane with growth management services.

“We were growing a lot and we were buying trucks, and I wanted someone in my corner, and in the propane industry, to guide me through it,” Robertson says. “I needed Marty to keep the train on the rails and still going forward, but to make sure we weren’t overextending.”

Today, Robertson, thanks to Kirshner and Gray, watches Thermotane’s finances closely, studying quarterly comparisons and projections. Gray gave Robertson a budget template that lets him know the number of propane gallons he has to deliver to make money each month.

“That tool was crucial,” Robertson says.

Kirshner also introduced Robertson to large banks that were willing to finance his growth. Previously, smaller banks that Robertson had approached were reluctant to help him.

In addition, Kirshner encouraged Robertson to add service contracts to his offerings. Thermotane now performs, for example, safety checks of propane equipment, thereby tapping into a new revenue stream.
“Having an accounting firm that knows the industry and can connect dots like that, it’s invaluable,” Robertson says.

Meanwhile, both Thermotane and Gray are committed to the LP Gas Growth Summit, which played such an important part in their meeting. Although Robertson himself didn’t attend in 2023, his CEO Mark Witt was there, and in 2024, Witt took new COO Kristen Williams along.

“Mark and Kristen loved the one-on-one meetings with vendors,” Robertson says. “We met someone from Metsa Tanks there in 2023, and we’re buying from them now. And it was nice to firm up the relations with Gray at the 2024 summit.”

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