Sheller Oil & Propane divests heating oil business

D.E. Duffey & Sons, based in Plymouth Meeting, Pennsylvania, acquired the full-service heating oil delivery business of Sheller Oil & Propane, located in West Chester, Pennsylvania. The Sheller family will continue to own its Sheller Propane business, operating from its current West Chester location.

Sheller Oil & Propane has provided heating oil and service since 1963. The company later added a propane division to spur growth.

“We are pleased to have completed the sale of our heating fuels business operations to D.E. Duffey & Sons,” says Bruce Sheller, president of Sheller Oil & Propane. “We chose them because they are also family-owned, we share a long history as friendly competitors, and they share our commitment to employees, customers and community.”

Founded in 1898, D.E. Duffey & Sons offers complete heating and cooling solutions for customers in suburban Philadelphia.

“Together with his family, Bruce has built a highly successful fuel delivery and HVAC services business, and we are honored that they chose our family to continue to care for their Sheller Oil customers,” says Dan Duffey, president of D.E. Duffey & Sons.

Cetane Associates served as the sole arranger and financial adviser to Sheller Oil & 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. Team members Doug Woosnam, Jeff Brunner, and Barrett Conway managed the transaction.

Cetane also served as sole arranger and financial adviser in the sale of Lavallee Oil, a full-service heating oil business based in New Hampshire, to Dead River Co. of northern New England. Team members Jeff Brunner, Fred Lord and Barrett Conway managed the transaction.

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