Mike Hopsicker Acquires 100% of Ray Murray Inc.

During the past few years, the company and its industries faced their share of challenges, but ultimately RMI was able to enjoy significant growth and expand its geographic reach through a combination of four acquisitions. It has grown to be one of the largest two-step distributors in both the propane and hearth and grill industries.

“The Murrays and I are both very excited to have completed the successful transition of ownership,” says Hopsicker, who has been the majority owner since 2014. “While it has been in process for 15+ years, it is also bittersweet. I am sure that the Murrays have mixed feelings regarding the final sale of the family business that they have lived and loved for so long. But in the process we formed a very good partnership, and a great friendship. They are a wonderful family, and I hope they can look back with pride on all that they and their family has accomplished. I am extremely thankful for all they have done to help me over these past years!”

Ray Murray summarizes the milestone by stating, “This is a momentous occasion for our families, and the entire team at RMI. We have thoroughly enjoyed working with Mike on the transition. His family has become our family.” Jim Murray adds, “Although it is a little bittersweet, our gratitude to Mike and the entire Ray Murray Inc. team for all that has been accomplished far outweighs those feelings. We are indeed a family.”

Ray, Jim, and John will remain an important part of the RMI management team as advisors to the business, and will continue to assume their current management roles for several years to come. “The final ownership transfer was the last piece in a long transition, but with the Murrays’ continued involvement, the management of the business is not effectively any different than when I assumed the majority shareholder role several years ago,” says Hopsicker.

Ray Murray reflects, “Words cannot express what a privilege it has been to be part of this organization since we opened the doors back in 1973. We will be eternally grateful for this opportunity.” John Murray, the youngest of the Murray family, sums it up, “I am so proud of what has been accomplished getting to this point. Mike has assembled an outstanding team, and I am looking forward to continuing to work with him and the entire team to help RMI reach even greater heights.”

SOURCE: The Weekly Propane Newsletter, January 14, 2021. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.