Heartland Co-op Acquires Legacy Propane

Fountain Hills, Ariz. (June 1, 2026) — Legacy Energy Consulting, a merger and acquisitions consulting firm, facilitated the Legacy Propane sale to Heartland Co-op, transferring the Allison, Iowa-based company to Heartland Co-op, headquartered in Clive, Iowa.

Legacy Propane of Allison, Iowa, was originally established as Allison Propane in 1972 and was acquired by Heritage Petroleum of Evansville, Indiana, as part of its much larger acquisition of Diamond Oil in February of 2025.

John Clark, the COO of Heritage Petroleum, commented, “We have bought 25 companies in 12 years but had never sold anything. The Legacy Energy team presented, then executed a plan seamlessly to make our first selling experience a success. I would not only use them again, but I would recommend them to other companies looking to execute a transition.”

Chad Pendill, founder and president of Legacy Energy Consulting, commented, “John Clark and Phil Davidson of Heritage Petroleum were a pleasure to work with on this project and it could not have gone any smoother.”

Legacy Energy Consulting delivered comprehensive merger and acquisition services to Legacy Propane. These services encompassed the initial valuation, discreetly marketing the business to potential buyers through an efficient and structured sale process, negotiating the final deal structure, and managing the due diligence process between the seller and the eventual buyer. Chad Pendill, Tyler Pendill and Dustin Shafer managed the transaction. This transaction is the first for Legacy Energy Consulting in 2026, and its 28th since 2020.