M&A Deal Summary

Star Group Acquires Meenan Oil

On August 1, 2001, Star Group acquired utilities company Meenan Oil for 120M USD

Acquisition Highlights
  • This is Star Group’s 3rd transaction in the Utilities sector.
  • This is Star Group’s largest (disclosed) transaction.
  • This is Star Group’s 3rd transaction in the United States.
  • This is Star Group’s 1st transaction in New York.

M&A Deal Summary
Date 2001-08-01
Target Meenan Oil
Sector Utilities
Buyer(s) Star Group
Deal Type Add-on Acquisition
Deal Value 120M USD

Target

Meenan Oil

Wantagh, New York, United States
Meenan Oil Co. Inc. the third largest retail home heating oil company in the country. The company offers home security system, tank analysis, heating and cooling services, brand-name equipment, and home security monitoring services.

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Buyer(S) 1

Buyer

Star Group

Stamford, Connecticut, United States

website

Category Company
Founded 1995
Sector Energy Services and Equipment
Employees3,157
Revenue 1.5B USD (2020)
DESCRIPTION

Star Group is a full service energy provider specializing in the sale of home heating products and services to residential and commercial customers. Star sells diesel fuel, gasoline and home heating oil on a delivery-only basis. Star Group was founded in 1995 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 3 of 7
Sector (Utilities) 3 of 6
Type (Add-on Acquisition) 3 of 4
State (New York) 1 of 1
Country (United States) 3 of 7
Year (2001) 2 of 4
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-02-05 Midwest Tru-Gas

Wisconsin, United States

Midwest Tru-Gas is a Wisconsin-based distributor of propane. Midwest Tru-Gas operates primarily in the Wisconsin and Florida markets, with additional branches located in Minnesota and Georgia. The Company sells 23 million gallons of propane annually to 55,000 customers, 77% of whom are residential, from its 27 branches.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-08-24 ProvEnergy Oil

Warwick, Rhode Island, United States

ProvEnergy Oil Co. serves approximately 15,000 customers, with annual home heating oil volume of approximately 12 million gallons.

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