Seller stories from propane retailers

May 15, 2026 By Brian Richesson and Bob Sandrick 0 Comments

Brothers leading Kentucky company ‘reached a point’ to consider sale

Kerry and Kevin Kasey faced a paradox. Their family business, Irvington Gas Co. in Irvington, Kentucky, was experiencing steady year-over-year growth. The brothers had more than 10,000 customers and 22 employees.

To keep growing, the Kasey brothers would have to hire more workers, buy more equipment and work longer hours.

“Kevin and I had reached a point where we were working long, nine-to-10-hour days,” Kerry Kasey says. “It was becoming increasingly difficult to maintain that pace.

“We had next-generation family members available, but when they saw firsthand the sacrifices we made balancing the demands of the business with family life, that influenced their decisions to pursue other career paths,” Kasey says.

The Kaseys realized it was time to place Irvington Gas on the market. However, they didn’t want to sell the company – founded in the 1930s by grandfather P.L. Kasey – to just anyone. They sought a buyer that shared Irvington’s work ethic, customer focus and care for employees, and their desire to keep growing.

The Kaseys hired Cetane Associates to help find the right buyer. Cetane evaluated Irvington Gas, determined the company’s market value and assisted with every aspect of the sale.

“Letting go was a very difficult decision,” Kasey says. “The preparation process took several years, both emotionally and operationally.”

The buyer was Reliable Energy Partners, based in Valrico, Florida, and the deal closed in February.

“We met with several companies, and Reliable Energy Partners was the one that best fit with our values,” Kasey says. “Mainly, it’s the way they communicate. They are down-to-earth, family-oriented, and they care about our employees and customers.”

Kerry and Kevin, who were Irvington’s president and vice president, respectively, before the sale, are now consultants for Irvington Gas.

“It has only been a few months, but we haven’t had any regrets,” Kerry Kasey says. “Reliable Energy Partners has truly lived up to its name.”

Evaluation of California company triggers owner’s decision to sell

Dustin Shafer knew he had a decision to make, but selling his business never crossed his mind.

His Phelan Gas Co. – in Phelan, California, about 100 miles northeast of Los Angeles – had achieved its maximum market reach, he believed. Phelan’s pace of growth had slowed since he started the business in 2009.

Shafer even considered launching another company or acquiring a smaller competitor. Then he met Chad Pendill, president and founder of Legacy Energy Consulting, an Arizona-based merger-and-acquisition consultant. He hired Legacy to analyze Phelan Gas and determine its worth.

The company value amount that Legacy Energy calculated was an eye-popper for Shafer.

“Shocked is the right word because I had no clue how much the company was worth,” Shafer says. “When Chad showed me his evaluation, it triggered a decision for me.”

Shafer, at only 37 years old, sold Phelan to a company that initially was undisclosed, but which Phelan’s website clearly identifies as Suburban Propane. The closing date was October 2025. Legacy Energy guided Shafer through the process.

Shafer chose Suburban from among several suitors. He wanted a buyer that would keep his staff intact.

“I was close to my employees,” Shafer says. “They should have the opportunity to stay on. And Suburban had strong benefit packages for them.”

Shafer had no time to prepare for the sale of Phelan because he had never considered it before. The business was presented and sold as-is. Nevertheless, it took Legacy Energy just eight months to evaluate Phelan and identify prospective buyers.

“We ran a good business, a strong company with good values and a good operation,” Shafer says. “It was organized and clean. It was flattering and humbling to have four, five, six businesses making offers.”

Meanwhile, Shafer and Pendill became friends, and now Shafer is working at Legacy Energy, helping with mergers and acquisitions as director of business development.

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