ShepGas acquires Carolina Gas in South Carolina

December 5, 2024 By Sydney Fischer

ShepGas has acquired Carolina Gas. Both companies are located in Mount Pleasant, South Carolina.

Cetane Associates, a provider of financial advisory services to business owners in home services industries, announced the transaction, which closed on Nov. 8.

Carolina Gas was established in 1998 by Steve and Wanda McDuffie. According to a news release from Cetane, Carolina Gas has expanded primarily through word-of-mouth referrals and by building relationships.

“Working with Joe and the Cetane team was invaluable,” Steve McDuffie, owner of Carolina Gas, says. “We’re overjoyed with the outcome of the sale, and we know the future of Carolina Gas is in good hands.”

Brothers Tre and Russ Sheppard established ShepGas. The duo are also the co-owners of Sheppard Construction, founded in 1997.

“We are excited for this new venture,” Tre Sheppard, owner of ShepGas, says. “Carolina Gas is a fantastic business, and we will continue to provide the same outstanding service to their customers.”

Cetane served as the sole arranger and financial adviser to Carolina Gas. 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. Joe Rosengrant, Trey Brasseaux, Whitney Parsley and Fred Lord managed the transaction.

Featured homepage image: designer491/iStock / Getty Images Plus/Getty Images

Cetane Associates hires analyst

Cetane Associates hires paralegal associate

Cetane Associates hires Don Smith as director