Paraco Gas Expands Footprint With Acquisition Of New Jersey Propane Company

Paraco Gas (Rye, N.Y.) has acquired Califon, N.J.-based Advantage Propane LLC, a full-service propane delivery business. Details of the transaction, which closed Dec. 4, were not revealed. Cetane Associates (Kent, Conn.) served as the sole arranger and financial advisor to Advantage Propane.
Advantage Propane LLC, founded in 2012 by Douglas Tascarella and Steven Congiusta, sells and delivers propane to residential, commercial, and agricultural customers in New Jersey and Pennsylvania.

“Selecting the right company to buy our business was imperative,” said Doug Tascarella, co-owner of Advantage. “We have always put our customers first and adhered to a Gold Rule of service. Knowing Paraco could uphold that promise put us at great ease.”

“Steve and Doug’s tremendous industry experience and local relationships helped them build Advantage Propane into the thriving business it is today,” said Christina Armentano, executive vice president and third-generation family member at Paraco Gas. “This acquisition is a major opportunity to expand our presence in New Jersey and Pennsylvania, and demonstrates Paraco’s commitment to further expanding its footprint in the Northeast/Southeast.”

Doug Tascarella will continue to lead Advantage Propane—A Paraco Co. The retention of Advantage employees will add experienced and talented individuals to the Paraco team. Steve Congiusta will retire after a long and successful career in propane industry.
This is Paraco’s 52nd acquisition, its second in 2020, and adds 1.2 million gallons to Paraco’s portfolio in a growing residential and commercial market.

SOURCE: The Weekly Propane Newsletter, December 17, 2020. 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.