Palmdale Oil acquires Como Oil & Propane

October 5, 2023 By    

Palmdale Oil of Fort Pierce, Florida, acquired Como Oil & Propane, a Vero Beach, Florida-based, full-service fuel and propane distributor. Financial terms of the transaction were not disclosed.

Palmdale is a statewide provider of fuels, lubricants and chemicals with delivery and management solutions. It is a family-owned business operating in more than 50 counties across Florida. The transaction enables Palmdale to expand upon its offerings to include Como’s propane capabilities.

Founded in 1967 by Myles Hall, Como Oil & Propane provides fuels and propane from five facilities across the eastern Florida coast, including in Palm Bay, Vero Beach, Stuart, Palm City and West Palm Beach. It provides customers with propane and fuel distribution services and generator sales, service, maintenance and installation. Minnesota-based Superior Fuel Co. owned the company prior to this transaction.

“Como has built an impressive business and a reputation as a go-to provider for propane, generators and ancillary services in southeastern Florida. Bringing together our shared offerings will greatly benefit new and existing customers of both organizations,” says Lachlan Cheatham, CEO of Palmdale. “This partnership combines two family-oriented businesses with a shared mission to provide trusted services and solutions for customers across Florida. The addition of Como’s propane business expands Palmdale’s broad service offering and strengthens our platform as the leading, fully integrated provider of fuels and lubricants in Florida.”

Michael Bodine and Como’s Florida-based team will continue to lead the Como propane division under Palmdale.

“This partnership with Palmdale marks an exciting milestone for Como and is a testament to the strength of the business we’ve built together across southeastern Florida,” says Bob Hall, CEO, and Ryan Gunderson, president at Superior Fuel, Como’s former parent company. “Palmdale is a Florida-based, family-founded and operated business with a 40-year track record that shares Como’s values and culture, and we’re confident that the Cheatham family and the Palmdale team are the ideal partner for Como.”

Citizens M&A Advisory acted as exclusive financial adviser to Palmdale and provided debt financing to support the transaction.

Legacy Energy Consulting facilitated the sale of Como Oil & Propane. The deal is the fourth for Legacy Energy Consulting in 2023, its sixth to date in Florida and 16th overall since the advisory firm was founded in 2020.

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

Comments are currently closed.