Star Group acquires Blue Light Energy

Star Group LP has acquired Blue Light Energy LLC of Bridgehampton, New York. Blue Peak Resources, a mergers and acquisitions consulting firm, announced the sale of Blue Light.

In November of 2012, two lifelong friends teamed up to start a propane company on the East End of Long Island, and Blue Light Energy was created. Albert McCoy and Robert Schiavoni saw a need for a local propane provider that would offer first-rate service and personalized customer care in their Long Island neighborhood.

“When Albie and I started Blue Light Energy, we had a vision to build a first-class propane business. Once we made the difficult decision to sell, we are so grateful we chose Blue Peak Resources to represent us,” says Schiavoni, Blue Light Energy partner, in a statement about the deal. “They presented us with several offers, but ultimately we felt Star Group was the best company for our employees and the community that we both grew up in.”

Anthony Silecchia, vice president of Star Group, stated, “This partnership with Blue Light Energy is an exciting addition for our company, and we are thrilled to welcome their team to the Star Group family. We look forward to building upon the premier service reputation that Blue Light Energy has earned in taking care of the communities on the South Fork of Long Island.”

John Armentano, partner at Blue Peak Resources, acknowledged the path McCoy and Schiavoni took to building their business.

“Their attention to customer focus is a direct reflection of the success they achieved,” Armentano says. “Star Group is the perfect match to continue their legacy. It was a pleasure collaborating with them and being a part of their next chapter.”

Blue Peak Resources, an adviser to Blue Light Energy, served as the facilitator and negotiator of the sale. The team provided the financial valuations, prepared the business offering package to potential buyers and assisted in the negotiations and final deal terms.

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