Polsinello Fuels sells propane assets to Mirabito Holdings

Matrix Capital Markets Group closed on the sale of Polsinello Fuels Inc.’s home heating and commercial fuels business – including its propane, heating oil, commercial fuels and HVAC assets – to Mirabito Holdings Inc.

Polsinello Fuels, based in Rensselaer, New York, was founded in 1952 by Louis Polsinello Sr. as an oil burner repair services company. The company’s operations grew to include delivery trucks, followed by gas and diesel delivery, as well as a wide range of other products and services. Today the company is led by Louis Polsinello Jr.

Matrix provided merger and acquisition advisory services to Polsinello Fuels, including valuation advisory; marketing the business through a confidential, structured sales process; and negotiation of the transaction, the company reports. The transaction was co-managed by Spencer Cavalier, managing director, and Sean Dooley, vice president.

“Finding the right partner in whom to entrust our legacy, our employees and our customers was the highest priority,” says Polsinello Jr. “The Matrix team understood our concerns and guided the process. I strongly believe the Mirabito and Polsinello families are each made stronger by this transaction, and we are excited by what the future holds for both of our growing organizations.”