Cetane Announces the Sale of Barber Oil Company
NEW MILFORD, Conn. – August, 2024 – Cetane Associates (“Cetane”) is pleased to announce that Stuck Enterprises, Inc. (“Stuck Enterprises”) a Pennsylvania corporation located in Waynesburg, PA. has acquired Barber Oil & Propane Company (“Barber Oil”), of Ebensburg, Pa. The transaction closed on August 8, 2024.
Established in 1966 by Dick Barber, Barber Oil began as a wholesale commission agent for Mobil Oil and evolved into a family-owned fuel sales and delivery business. Their three children took leadership positions in the company in 1985. Barber Oil has grown through multiple acquisitions through the early 2000s. Initially focusing on heating oil, they later ventured into propane with the installation of large tanks and further acquisitions. Today, Barber Oil is managed by the third generation of the Barber family and serves a wide area across central Pennsylvania. Jim and Rich Barber commented, “Barber has delivered exceptional service to our customers for decades and we are confident that this transition will uphold our high standards of excellence.” They continued, “Thank you to Doug and the Cetane team for their expert knowledge in guiding us through the process.”
Stuck Enterprises is the parent company for Jacobs Petroleum Products, Oakland Oil & Propane, Bedford Valley Petroleum & Propane, Stuck Retail, Stuck’s Fleet Fueling and the Deep Creek Fireplace & Outdoor Store. They also own Deep Creek Mountain Utilities as well as multiple commercial real estate holdings. Stuck Enterprises services Pennsylvania, Maryland, West Virginia, and Ohio. President Steve Stuck, remarked, “We’re thrilled to welcome Barber Oil to Stuck Enterprises. We value their rich company history and will continue to provide the same excellent service and products to their customers.”
Doug Woosnam, Director at Cetane, stated, “Working with Jim and Rich was a pleasure. Their family built a successful company and we wish them all the best in their next chapter.”
Cetane served as the sole arranger to Barber Oil. 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. Team members Doug Woosnam, Fred Lord, Trey Brasseaux, and Dalton Brooks managed the transaction.
About Cetane Associates
Cetane is a leading provider of financial advisory services to business owners in home services industries. 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.com.
Media Contact: Tara McCauley, 516.965.8761, tmccauley@cetane.com
