Acquisition Announcement: Wigley Propane
KENT, Conn. – August 11, 2022 – Cetane Associates LLC (“Cetane”) is pleased to announce that Blossman Gas, Inc. (“Blossman Gas”) of Ocean Springs, Miss. has acquired the full-service propane delivery business of Wigley Propane, LLC (“Wigley Propane”) of Jasper, Ga. The transaction closed on August 5, 2022.
Founded in 2011 by Jeff Wigley and Renay Wigley, Wigley Propane sells and delivers propane to residential and light commercial customers in and around Pickens County from its Jasper, Ga. facility, which includes a 60,000-gallon propane bulk plant. Co-founders Jeff and Renay began their business with Jeff behind the wheel of a bobtail and Renay taking customer calls from their house. Their business experience, entrepreneurial attitude, and local relationships helped them to build a thriving propane company with a well-recognized brand and strong demand. Jeff Wigley stated, “We’re excited to complete this transaction and continue to bring our customers outstanding service under the Blossman umbrella. We are proud of the Wigley brand and our dedicated employees.” Renay Wigley added, “We’re especially thankful to the team at Cetane Associates for being with us every step of the way and ensuring the process was thorough and professional. Their expertise made this a winning experience.”
Blossman Gas is the largest privately held propane marketer in the U.S., providing propane services to 19 Southeastern and Mid-Atlantic states. Established in 1951 by Woodrow “Woody” Blossman, the third generation of family ownership now has thousands of customers and 84 stores. For more than 70 years, Blossman Gas has invested heavily in the service side of its business and strives to “maintain service and family values of a small company.” Blossman Gas Chief Operating Officer David Reynolds remarked, “It’s an honor to have the Wigley Propane group join the Blossman Gas team. We welcome them and look forward to delivering superior service to their customers. This transaction is an excellent addition to our growing organization.”
Joe Rosengrant, Director of Business Development for Cetane, commented, “I am happy for Jeff and Renay to have completed this successful transaction. I appreciated the opportunity to work with them in this significant transition in their careers. Their business instincts and dedication served them well in creating a valuable company at Wigley Propane. It was a pleasure to work with them throughout the transaction.”
Cetane served as the sole arranger and financial advisor to Wigley Propane. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiating the final deal terms, and coordinating the due diligence process. The transaction was managed by team members Joe Rosengrant, Tamera Kovacs, Fred Lord and Barrett Conway.