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New Deal


Announced

Completed

Approved Oil completed the acquisition of the heating oil and service division of Original Energy.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

heating oil

Acquisition

Completed

Integrated Oil and Gas

Private

Majority

Friendly

Domestic

Single Bidder

Synopsis

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Approved Oil, the largest family-owned oil company in New York City, completed the acquisition of the heating oil and service division of Original Energy, a provider of heating oil and mechanical services to commercial and residential customers. Financial terms were not disclosed. "This acquisition is in-line with Approved's strategy to increase market share throughout New York's Metropolitan area. We look forward to working with Jim Slattery and the rest of Original's sales team to help onboard their customers into the Approved family of service," Chris Fazio, Approved Oil Executive Vice President.

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