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Star Group Announces Definitive Acquisition Agreement
SGUStar Group(SGU) GlobeNewswire News Room·2024-12-12 13:00

Core Viewpoint - Star Group, L.P. has announced a definitive agreement to acquire a home energy distributor for approximately 68million,whichisexpectedtoenhanceitscompetitivepositionandprovideasoundinvestmentforshareholders[1][2].CompanyOverview−StarGroup,L.P.isafull−serviceproviderspecializinginhomeheatingproductsandservicesforresidentialandcommercialcustomers,includingheatingandairconditioningequipment[2].−ThecompanyisrecognizedasthelargestretaildistributorofhomeheatingoilintheU.S.basedonsalesvolume,servingcustomersprimarilyintheNortheastandMid−Atlanticregions[2].TransactionDetails−Theacquisitionisvaluedataround68 million, which is expected to enhance its competitive position and provide a sound investment for shareholders [1][2]. Company Overview - Star Group, L.P. is a full-service provider specializing in home heating products and services for residential and commercial customers, including heating and air conditioning equipment [2]. - The company is recognized as the largest retail distributor of home heating oil in the U.S. based on sales volume, serving customers primarily in the Northeast and Mid-Atlantic regions [2]. Transaction Details - The acquisition is valued at around 68 million before working capital adjustments and is anticipated to close within 45 days, pending governmental reporting requirements [1][2]. - Specific additional terms of the transaction have not been disclosed [1].