M&A Deal Summary

Star Group Acquires Modern Gas

On March 14, 2002, Star Group acquired utilities company Modern Gas

Acquisition Highlights
  • This is Star Group’s 6th transaction in the Utilities sector.
  • This is Star Group’s 6th transaction in the United States.
  • This is Star Group’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2002-03-14
Target Modern Gas
Sector Utilities
Buyer(s) Star Group
Deal Type Add-on Acquisition

Target

Modern Gas

Woodbine, New Jersey, United States
Modern Gas serves approximately 8,000 customers a wonderful fit given its geographical proximity to other regional propane operation with annual propane volume of approximately 5.7 million gallons.

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Buyer(S) 1

Buyer

Star Group

Stamford, Connecticut, United States

Category Company
Founded 1995
Sector Energy Services and Equipment
Employees3,052
Revenue 2.0B USD (2023)
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 6 of 7
Sector (Utilities) 6 of 6
Type (Add-on Acquisition) 4 of 4
State (New Jersey) 1 of 1
Country (United States) 6 of 7
Year (2002) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-09-28 Valley Propane

Providence, Rhode Island, United States

Valley Propane, Inc. is a natural gas utility based in Providence, RI, serves approximately 2,800 customers, with annual propane volume of approximately 2.0 million gallons

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-30 Griffith Energy Services

Columbia, Maryland, United States

Griffith Energy Services is a US distributor of a broad range of liquid fuels and propane gas, serving markets in Connecticut, Pennsylvania, and Rhode Island. Griffith also provides its customers with a broad range of services, including heating, ventilation, air conditioning repair, and other related services. Griffith Energy Services was founded in 1898 and is based in Columbia, Maryland.

Buy $70M