Private equity firm acquires Hop Energy

August 3, 2018 By    

Delos Capital, a private equity firm based in New York, acquired Hop Energy LLC, a privately-owned distributor of heating oil, propane and other petroleum products, based in White Plains, New York.

Hop Energy distributes its products in the Mid-Atlantic and Northeast and serves residential, commercial and industrial customers. It has a network of 12 bulk storage plants, which provide it with about 8.4 million gallons of storage capacity. The company also provides comprehensive HVAC installation and related services.

According to the company, Delos partnered with ShoreVest Capital, an investment firm composed of operators who have worked in the industry for over a decade.

“We are excited to partner with such an exceptional management team and ShoreVest to continue to growing the platform, both organically and through acquisitions,” says Will DeBruyn, partner at Delos Capital.

Steve Zambito, a former chairman of the board of Hop and founding co-partner of ShoreVest, says he is looking forward to continuing his involvement in Hop and is confident that partnering with Delos positions the company to further expand the existing platform.

“Hop’s management team and I are very excited about the opportunity to partner with both Delos and ShoreVest, enabling us to continue to achieve significant growth through strategic acquisitions,” says Michael Anton, Hop’s CEO.

About the Author:

Clara Richter is the managing editor at LP Gas magazine. Contact her at crichter@northcoastmedia.net or 216-363-7920.

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