West Palm Beach, Fla. — Feb. 29, 2024 — Blue Peak Resources, a merger and acquisitions consulting firm, has announced the sale of Blue Light Energy LLC of Bridgehampton, New York, to Star Group L.P.
In November 2012, two lifelong friends teamed up to start a propane company on the East End of Long Island and Blue Light Energy was created. Albert McCoy (Albie) and Robert Schiavoni (Bob) saw a need for a local propane provider in their Long Island neighborhood. Founded with the mantra of “Quality and safety in both deliveries and every installation is priority No. 1,” this has remained the cornerstone of Blue Light Energy throughout its years in business.
“When Albie and I started Blue Light Energy, we had a vision to build a first-class propane business. Once we made the difficult decision to sell, we are so grateful we chose Blue Peak Resources to represent us. They presented us with several offers but ultimately, we felt Star Group was the best company for our employees and the community that we both grew up in,” said Schiavoni, Blue Light Energy partner.
Anthony Silecchia, vice president of Star Group, stated, “This partnership with Blue Light Energy is an exciting addition for our company and we are thrilled to welcome their team to the Star Group family. We look forward to building upon the premier service reputation that Blue Light Energy has earned in taking care of the communities on the South Fork of Long Island.”
“Bob and Albie built an incredible business! Their attention to customer focus is a direct reflection of the success they achieved. Star Group is the perfect match to continue their legacy. It was a pleasure collaborating with them and being a part of their next chapter,” said John Armentano, partner at Blue Peak Resources.
Blue Peak Resources, an advisor to Blue Light Energy, 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.
