After the Sale, what are they doing now
No one can predict the future and when it comes time for an owner to sell their company and move on to the next chapter in their life, it is a big step for them and their families. I caught up with some owners who sold their business and asked them their thoughts on looking back at their decision.
Ralph Mazal, Mazal Fuel Co dba: Economy Fuel: Bridgeport, CT
On June 15, 2009 Mazal Fuel Company sold their operating assets to Economy Energy, LLC. Economy Energy was a company formed by Gault Energy & Home Solutions of Westport, CT to purchase the assets of Economy Fuel.
Ralph Mazal started Mazal Fuel Company in 1975 when he purchased his first fuel truck. He was working in a factory and was looking for additional income to help support his wife and four small children. Over the next 34 years Ralph built a well-known company with almost two thousand customers.
Abbate: “Ralph, what do you miss most about the business?”
Mazal: “I particularly enjoyed speaking with my customers and I loved to see how my business was growing. Quitting my factory job and focusing full time on my fuel business was very gratifying. The one thing I miss most are my customers. Many were not just customers, they were friends.
Abbate: Do you have any regrets about selling?
Mazal: No regrets at all! There is a time for building a business, a time for selling a business and a time to start something else. My children were not interested in the business so my best course of action was to work with you to find the right buyer. I was very fortunate we found a great company to sell our business to. The people at Gault have been fantastic. I have continued to work for them in one aspect or another since the day I sold. I couldn’t be happier.
My time is now my own. I get up when I want to and I sit down and have a cup of coffee with my wife when I want to. I now have quality time to enjoy life and I still keep myself busy.
My business helped me pay college tuition bills and kept us comfortable. My four small children are no longer small. We now have eleven grandchildren and four great grandchildren. The family keeps me busy. We moved to Florida five years ago for a better lifestyle. We now live near one of our sons. I have always enjoyed working and I like being productive.
Abbate: What advice do you have for owners considering a sale?
Mazal: Find the right company to sell to. I did my best for the new owners and they did their best for me. We have a terrific relationship and that has made the transition very enjoyable. I know my customers are happy, which is a good thing.
I would also advise owners to enjoy their life and make time to sit down and have a cup of coffee with their wife when they want to.
Ralph Mazal in 2009