Acquisition Announcement: George H. Bloch Fuel Service, Inc.
KENT, CONNECTICUT January 21, 2020 – Cetane Associates LLC is pleased to announce that Reliance Oil, LLC in Selinsgrove, Pennsylvania has acquired the convenience store, fuel delivery, and HVAC service businesses of George H. Blouch Fuel Service, Inc. in Lebanon, Pennsylvania.
George H. Blouch Fuel Service, Inc. operates four convenience stores with branded gas stations -located in Lebanon and Dauphin Counties in Pennsylvania, sells and delivers heating oil to retail customers throughout Lebanon County, Pennsylvania, and performs residential HVAC service and installation services.
Founded in 1995, Reliance Oil owns and operates 75 branded retail motor fuel and convenience store locations throughout Florida, New Jersey, North Carolina, Indiana, and Pennsylvania. In addition, Reliance Oil provides branded and unbranded fuel distribution, engages in fleet credit card sales, and owns and manages various real estate holdings.
Dave Blouch, President of George H. Blouch Fuel Service, commented, “Reliance Oil was a logical buyer for our business. With their expertise in the retail convenience store space, we knew they would be able to quickly integrate our four Mini Mart locations and minimize any disruption for our customers and employees. We are very happy with the sale outcome and appreciate everything the team at Cetane did for us.”
“When Doug Woosnam from Cetane informed us of this opportunity, we knew right away George R. Blouch would be a great acquisition for our company given our heavy presence in Central Pennsylvania,” remarked Ash Patel, Vice President and Chief Financial Officer for Reliance. “The Blouch name is a long standing, successful retail brand in the Lebanon, Pennsylvania market, so we were very excited to take on these locations and welcome them into our family of c-stores. With our experience, coupled with the hard work of Blouch’s employees, we look forward to serving customers in Lebanon and Dauphin counties. The Cetane team did a great job of facilitating this deal and we greatly appreciate all of their work in getting us to the finish line.”
Cetane Associates, LLC served as the sole arranger and financial advisor to George H. Blouch Fuel Service, Inc. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential, formal process, negotiation of the final deal terms, and coordination of the due diligence process. The transaction was managed by Doug Woosnam and Joshua Wolf.
About Cetane Associates
Cetane Associates, LLC is a leading provider of financial advisory services to owners of businesses in the retail energy distribution industry. Clients engage Cetane to advise on sales, spin-offs, and acquisitions, as well as perform valuation and ad hoc corporate finance assignments. For more information, please visit www.cetane.net.
Steve Abbate, +1 860-592-0089