Paraco Gas expands in New Jersey, Pennsylvania

December 18, 2020 By    

Rye Brook, New York-based Paraco Gas acquired Califon, New Jersey-based Advantage Propane, adding 1.2 million gallons to Paraco’s portfolio in a growing residential and commercial market.

Photo courtesy of Advantage Propane

Photo courtesy of Advantage Propane

Advantage Propane was founded in 2012 by Douglas Tascarella and Steven Congiusta. The company sells and delivers propane to residential, commercial and agricultural customers in New Jersey and Pennsylvania from its Califon facility, which includes a 30,000-gallon propane bulk plant.

“Selecting the right company to buy our business was imperative,” says Tascarella, co-owner of Advantage Propane. “We have always put our customers first and adhered to a gold rule of service. Knowing Paraco could uphold that promise put us at great ease.”

Tascarella will continue to lead Advantage Propane, which will retain its name and employees under the Paraco umbrella. Congiusta will retire after a long career in the propane industry.

“Steve and Doug’s tremendous industry experience and local relationships helped them build Advantage Propane into the thriving business it is today,” says Christina Armentano, executive vice president and third-generation family member at Paraco Gas. “This acquisition is a major opportunity to expand our presence in New Jersey and Pennsylvania, and demonstrates Paraco’s commitment to further expanding its footprint in the Northeast.”

Paraco Gas began serving New Jersey in 1991. Advantage Propane marks Paraco’s second acquisition in 2020. The company also acquired F M Popovich & Sons of Ashland, Massachusetts.

Cetane Associates served as the sole arranger and financial adviser to Advantage Propane. 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. The transaction was managed by Cetane team members Jeff Brunner, Steve Abbate and Fred Lord.

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