Star Group acquires W.F. McCoy Petroleum Products

Star Group LP acquired W.F. McCoy Petroleum Products of Bridgehampton, New York. Blue Peak Resources, a mergers and acquisitions consulting firm, announced the sale of W.F. McCoy.

William F. McCoy founded the company in 1928, and two generations of McCoys have continued to manage and grow it. McCoy’s grandson, Albert McCoy Jr., has been at the helm.

“Selling W.F. McCoy was a difficult and emotional decision,” Albert McCoy Jr. says. “Growing up in a family business that my grandfather started has so many memories that I will cherish forever. I couldn’t be happier with entrusting Blue Peak Resources to sell my business, their care and attention to detail was incredible. In choosing Star Group, we couldn’t be happier with both their reputation on the south fork of Long Island and the team they have built.”

Anthony Silecchia, vice president of Star Group, stated, “We are honored to be entrusted with the legacy that the McCoy family has built over nearly 100 years of servicing the south fork of Long Island. We are excited to welcome the team from McCoy to the Star Group family. Together, we look forward to providing continued seamless and premier service that McCoy customers have been accustomed to.”

John Armentano, partner at Blue Peak Resources, acknowledged the path McCoy took to build the family business.

“Albie has done a tremendous job carrying on his grandfather’s vision, a business focused on serving their customers with quality service,” Armentano says. “Star Group was the natural fit to continue the decades of excellence Albie, his dad and grandfather provided to the communities they served. It was a pleasure working with the McCoy family to help them reach their personal and business goals.”

Star Group recently acquired Blue Light Energy, also of Bridgehampton, New York, and owned by Albert McCoy.

Blue Peak Resources, an adviser to W.F. McCoy Petroleum Products, 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.

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