Star Group Announces Completion of Acquisition

Acquisition Summary - Star Group completed the acquisition of a home energy distributor within its existing operating footprint for approximately $68 million before working capital adjustments [1] - The acquisition is expected to strengthen the company's competitive position across its footprint [2] Company Overview - Star Group is a full-service provider specializing in the sale of home heating products and services to residential and commercial customers [2] - The company also sells and services heating and air conditioning equipment, primarily to its home heating oil and propane customers [2] - Star is the nation's largest retail distributor of home heating oil based on sales volume [2] - The company serves customers in the Northeast and Mid-Atlantic U.S. regions, including its propane locations [2] Business Operations - Star sells diesel, gasoline, and home heating oil on a delivery-only basis [2] - The company provides services to customers outside its home heating oil and propane customer base to a lesser extent [2] Forward-Looking Statements - The company acknowledges various risks and uncertainties that could impact future performance, including geopolitical events, product cost volatility, inflation, weather conditions, customer retention, and regulatory changes [3] - Star emphasizes the importance of factors such as gross profit margins, strategic acquisitions, and the ability to attract and retain employees [3]