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Industry leaders found M&A consultation group

August 20, 2020 By    

John Armentano and Michael Gioffre co-founded Blue Peak Resources, a new partnership specializing in propane gas and fuel oil mergers and acquisitions.

They assembled an experienced team of energy industry professionals who will provide resources for exit planning.

Armentano and Gioffre have each been a part of the national propane industry for nearly 30 years. Both started their energy careers at Paraco Gas, and in 2012, extended the company’s reach on a national level through a joint venture relationship with a multi-location cylinder exchange company. This commercial propane entity, which began with three locations in three states, grew to 11 businesses serving 14 states.

In 2017, the pair left Paraco to begin American Cylinder Exchange, which incorporated the joint venture cylinder exchange company. After years of growth, it was time to expand, say the co-founders.

In this new venture, the focus is on helping family-owned propane and fuel oil businesses plan for their exit, gain the maximum value and continue their legacy for generations. Understanding the industry’s complexity and having a network of relationships are important aspects of Blue Peak.

“Adding this new focus was a natural evolution for us,” says Armentano. “We are excited about providing advisory services and resources to those businesses that want to buy or sell. Our network is strong, and we have put together an exceptional team.”

“It’s been a privilege to work in this industry for so many years and be a part of its evolution,” says Gioffre. “Our new business model will ensure that we appreciate and value every client and the sacrifices they’ve made to get to this point.”

The Blue Peak Resources team

John Armentano

Armentano

Armentano

Armentano began his career in the family business at Paraco Gas, where he is no longer active but remains a stockholder. Armentano has more than 30 years of sales, operations, and merger and acquisition experience, having started with Paraco Gas in 1986. Throughout his tenure at Paraco Gas, he held various sales and operational positions. In 1992, Armentano became vice president of sales, and after leading the company through 12 years of growth, he assumed the role of vice president of business development in 2005. That role provided Armentano with an opportunity to cultivate and engineer over 25 successful acquisitions. Armentano also served as district director of the New York Propane Gas Association, was a member of the board of directors for the Propane Gas Association of New England and is an active member of the National Propane Gas Association’s (NPGA) marketers forum. Armentano spent six years as a board member for the Make-A-Wish Foundation in the Hudson Valley, where he’s still active in supporting their mission.

Mike Gioffre

Gioffre

Gioffre

Gioffre began his career at Paraco Gas in 1993 as the vice president of sales and marketing. While serving in that role, he established Paraco Gas as a nationally recognized company through strategic marketing, sales and public relations efforts. Gioffre was instrumental in numerous acquisitions, joint ventures, divestitures and business startups that expanded Paraco’s national reach. Before Paraco Gas, Gioffre was director of sales and marketing for NYNEX Meridian Systems, Northern Telecom. He is the former chairman of the New York Propane Gas Association marketing committee and a member and former chairman of the residential commercial advisory council for the manufactured housing sub-committee with the Propane Education & Research Council (PERC). Gioffre was a foundation board member for the Maria Fareri Children’s Hospital and is a former member of the board of directors for the Westchester Coalition for the Hungry and the Homeless.

Tom Jaenicke

Jaenicke brings a broad business background, from operations to sales and marketing leadership roles. Jaenicke currently serves on the board of directors for the NPGA as District no. 6 director and is active on the conventions and governmental affairs committees. He is a frequent contributor to LP Gas magazine and facilitates a benchmarking group for NPGA. Jaenicke’s business development experience includes working with business owners on projects involving mergers, divestitures and succession planning. He resides in the Charlevoix, Michigan, area where he has a small vineyard and commercial winery operation as a diversion from his work in the propane industry.

Steve Sheffield

Sheffield joins Blue Peak Resources after completing a 25-year career in the propane industry. His experience with TexGas, Suburban Propane, AmeriGas and Heritage Propane afforded him increasing levels of responsibility from small operations management to senior vice president of operations and marketing. Sheffield participated in multiple acquisitions that were immediately accretive, requiring funding and business plan development. He also played a role in blending acquired operations into ongoing operations, as well as managing other functional areas including human resources, marketing and risk management. Sheffield is currently a full-time faculty member in the Business Management Department at Springfield College in Springfield, Massachusetts.

Gaston Wilson

Wilson is a certified public accountant (CPA). With more than 25 years as a practicing CPA, Wilson has a passion for helping small to mid-sized companies manage and grow their financial well-being. With a strong accounting, governance and technology background, he is knowledgeable in working on mergers, acquisitions and divestitures. Wilson is a five-year alumnus of the public accounting firm Ernst & Young in Charlotte, North Carolina, where he currently resides.

Andy Hino

Hino joins Blue Peak Resources after a 26-year career at AmeriGas Propane as the director of corporate development. He brings extensive knowledge and experience to the mergers and acquisitions process from both the buyer and seller perspectives, having participated in over 30 acquisitions and 35 divestiture transactions during his AmeriGas tenure. Before his time at AmeriGas, Hino worked as a senior internal auditor for Sterling Winthrop Pharmaceuticals of New York and as an auditor for Arthur Andersen & Co. Hino is an active member of the NPGA Conventions Committee.

Bob Zola

Zola joins Blue Peak Resources after nearly 18 years as president of Sharp Energy (Chesapeake Utilities). He brings mergers and acquisitions experience, having managed a number of them throughout his tenure at Sharp Energy. Zola thrives when planning and analyzing acquisition opportunities and understands the commitment and effort needed for successful outcomes. In his time at Sharp Energy, Zola’s team received recognition as “Best Gas Company” in 2017 by The Metropolitan Magazine.

Jeremy Glaisher

Glaisher continues his 30-year career in the propane industry in joining with Blue Peak Resources. He brings experience in the areas of management, safety and technical compliance. In 2007, Glaisher established JG Energy Solutions, focusing on consulting services and design/build of propane storage facilities, serving both local and multi-state marketers. He has been active with PERC and the Colorado Propane Gas Association. Glaisher’s passions when not working include exploring the mountains and rivers of Colorado and the Southwest.

Mike DiGiorgio

DiGiorgio joins Blue Peak Resources after a 30-year career at Paraco Gas and Silverback Consulting. DiGiorgio is also the founder of Propane University, a virtual classroom for propane safety and education, where he is an instructor teaching all of the CETP programs.

Lisa Gioffre-Baird

Gioffre-Baird joins Blue Peak Resources as legal counsel. With more than 33 years as an attorney, licensed in both New York and Connecticut, Gioffre-Baird represents buyers, sellers and lenders in both commercial and residential real estate transactions, is a licensed title agent in Connecticut and practices in the areas of trusts and estates and probate law.

About the Author:

Sarah Peecher is the Digital Media Content Producer for LP Gas. Her experience includes content creation and strategy for both print and digital media, giving her the skills to share stories on websites and social media platforms.

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