M&A Deal Summary

Star Group Acquires Valley Propane

On September 28, 2001, Star Group acquired utilities company Valley Propane from Southern Union

Acquisition Highlights
  • This is Star Group’s 5th transaction in the Utilities sector.
  • This is Star Group’s 5th transaction in the United States.
  • This is Star Group’s 2nd transaction in Rhode Island.

M&A Deal Summary
Date 2001-09-28
Target Valley Propane
Sector Utilities
Buyer(s) Star Group
Sellers(s) Southern Union
Deal Type Divestiture

Target

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

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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 5 of 7
Sector (Utilities) 5 of 6
Type (Divestiture) 2 of 3
State (Rhode Island) 2 of 2
Country (United States) 5 of 7
Year (2001) 4 of 4
PREVIOUS 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2002-03-14 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.

Buy -

Seller(S) 1

SELLER

Southern Union

Houston, Texas, United States
Category Company
Founded 1932
Sector Oil/Gas Exploration
Employees2,256
DESCRIPTION

Southern Union Co. engages in the gathering, processing, transportation, storage, and distribution of natural gas in the United States.

DEAL STATS #
Overall 2 of 4
Sector (Utilities) 2 of 4
Type (Divestiture) 2 of 4
State (Rhode Island) 2 of 2
Country (United States) 2 of 4
Year (2001) 2 of 2
PREVIOUS 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.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-27 PG Energy

Wilkes-Barre, Pennsylvania, United States

PG Energy serves customers in 13 counties in northeastern and central Pennsylvania, including the cities of Scranton, Wilkes-Barre and Williamsport.

Sell $580M
Mergr

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