West Palm Beach, FL (Sept. 25, 2024) — Blue Peak Resources, a merger and acquisitions consulting firm, announced the sale of Freedom Propane, Red Hook, New York, to Combined Energy Services of Monticello, New York.
In 2007, Paul Pagano saw an opportunity to expand his successful industrial and welding gas company. He thought that adding propane would be a great enhancement to his existing business. Taking a risk, Pagano bought a bobtail delivery truck and a brand-new service truck. Fortunately, a local propane supplier in Red Hook called G & S Energy decided to sell their plant location, which was in the perfect spot to serve the entire area. Pagano seized the opportunity and bought the company. He promptly renamed it Freedom Propane and sold his share in the industrial gas business to concentrate all his efforts on growing the newly acquired propane company.
"I am so grateful to the Blue Peak team for all the help and guidance they provided,” said Pagano. “Their ability to navigate me through the process was invaluable. I am very excited about choosing Combined Energy Services for the future of Freedom Propane, my employees and customers."
"It was an absolute pleasure representing Paul, and it's very exciting for the Hudson Valley region to witness two first-class, locally owned businesses joining forces,” said John Armentano, Partner at Blue Peak. “I'm thrilled that we could bring these two high-quality companies together."
Blue Peak Resources, an advisor to Freedom Propane, served as the facilitator and negotiator of the sale. The team provided the financial valuations, prepared the business offering package to potential buyers and assisted in the negotiations and final deal terms.
