Cetane Announces the Sale of Weaver Energy, Inc.
NEW MILFORD, Conn. – September 27, 2024 – Cetane Associates (“Cetane”) is pleased to announce that Guttman Energy, Inc. (“GEI”), located in Belle Vernon, Pa., and Source One Transportation, located in Belle Vernon, Pa., have acquired Weaver Energy, Inc., (“Weaver Energy”), located in Lititz, Pa. The transaction closed on September 16, 2024.
Weaver Energy originated in 1963 when Paul Kurtz started an oil and gasoline delivery business in Lititz, Pa. Deb Weaver began working there at age 14. A few years later, Deb married Ken and he too joined as an employee in 1979. By 1983, Ken became a minority partner. In 1995, they launched K.E. Weaver Petroleum, Inc. at the same location. Their son Shane joined in 1996 and transitioned to full-time in 2002. The company expanded into commercial services, adding gasoline sales in 2006 and fixed contracts in 2008. Renamed Weaver Energy, Inc. in 2012, it has continued to grow. Shane became President in 2019, leading a dedicated team known for quality service and community involvement. Shane Weaver commented, “It has really been great to get to work through this process with Cetane. Having gone through this, I would never recommend someone attempt to sell a business themselves. I’m happy to talk to people in our industry about the value we received from Cetane Associates.”
GEI is a comprehensive fuel distribution company dedicated to delivering safe, efficient, and customized fuel services to its customers. Mark Harper, COO of GEI, remarked, “We’re excited to welcome Weaver Energy. They have a rich business history and we are committed to maintaining the same high level of service and quality products for their customers.”
Doug Woosnam, Director at Cetane, stated, “We’re happy to have worked with Shane to successfully complete this transaction. Shane and his family built a solid and valuable business and we wish him all the best in this next chapter.”
Cetane served as the sole arranger to Weaver Energy. 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 included Doug Woosnam, Ford Dubose, Dalton Brooks, and Whitney Parsley.
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 to 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
