M&A Deal Summary

Approved Oil Acquires Original Energy - Heating Oil and Service Division

On January 6, 2021, Approved Oil acquired utilities company Original Energy - Heating Oil and Service Division from Original Energy

Acquisition Highlights
  • This is Approved Oil’s 1st transaction in the Utilities sector.
  • This is Approved Oil’s 3rd transaction in the United States.
  • This is Approved Oil’s 3rd transaction in New York.

M&A Deal Summary
Date 2021-01-06
Target Original Energy - Heating Oil and Service Division
Sector Utilities
Buyer(s) Approved Oil
Sellers(s) Original Energy
Deal Type Divestiture

Target

Original Energy - Heating Oil and Service Division

Port Chester, New York, United States
Original Energy - Heating Oil and Service Division offers unsurpassed purchasing power and low prices and has been offering customers complete transparency and confidence in our ability to deliver in the New York metro market for over 80 years.

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Buyer(S) 1

Buyer

Approved Oil

Brooklyn, New York, United States
Category Company
Founded 1932
Sector Energy Services and Equipment
Employees150
DESCRIPTION

Approved Oil Co. provides New York City's residents and businesses with intelligent energy solutions that drive down costs while promoting efficiency and enhancing comfort. Approved Oil Co. was founded in 1932 and is based in Brooklyn, New York.

DEAL STATS #
Overall 3 of 4
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 3 of 4
Country (United States) 3 of 4
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-04 Associated Fuel

Briarcliff Manor, New York, United States

Associated Fuel Co. is a small to mid-size oil marketer serving the five boroughs and Westchester County since the early 1990s.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-31 Star Industrial Service

Brooklyn, New York, United States

Star Industrial Service's mission is to maintain the comfort of their customers' buildings, prolong the life of their heating equipment, and reduce energy costs. Star Industrial Service is based in Brooklyn, New York.

Buy -

Seller(S) 1

SELLER

Original Energy

Port Chester, New York, United States
Category Company
Founded 1928
Sector Energy Services and Equipment
DESCRIPTION

Established in 1928, Original Energy has been delivering heating oil and offering mechanical services to commercial and residential customers throughout New York City.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Mergr

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