Star Group, L.P. has recently announced its definitive agreement to acquire a home energy distributor within its existing operating footprint for approximately $68 million before working capital adjustments. The acquisition is anticipated to further strengthen the company's competitive position and be a sound investment for its shareholders.
In terms of financial performance, Star Group, L.P. has not disclosed specific metrics for the current period. However, the acquisition of the home energy distributor is expected to have a notable impact on the company's future financials.
In the previous period, Star Group, L.P. reported impressive figures. The company is recognized as the nation's largest retail distributor of home heating oil based on sales volume. Additionally, it serves customers in the more northern and eastern states within the northeast and mid-atlantic U.S. regions.
The company's services include the sale of home heating products and services to residential and commercial customers, as well as the sale and servicing of heating and air conditioning equipment. Furthermore, Star Group, L.P. sells diesel, gasoline, and home heating oil on a delivery-only basis.
The acquisition aligns with the company's strategic expansion plans, and the financial details of the acquisition are expected to be revealed after the transaction is closed within the next 45 days, subject to compliance with governmental reporting requirements. As a result of these announcements, the company's shares have moved 2.0% on the market, and are now trading at a price of $12.02. For the full picture, make sure to review Star's 8-K report.
