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Same Game, Different Rules: Navigating Small Business Acquisitions This Year and Beyond

Originally published as a featured column in the September/October 2024 Issue of Indoor Comfort Marketing. Fuel company acquisitions continue to succeed or fail based on the same core principles as they always have. But several factors have changed the playing field. It’s still a nine-inning ballgame, but the outfield fences have been moved back. While … Read More

The Increase of Private Capital in the Energy Industry, and Why It Matters to You

Originally published as a featured column in the July/August 2024 Issue of Indoor Comfort Marketing. In case you missed it, the capital landscape for small and medium-sized businesses has changed dramatically in recent years. Most notably, the availability of private credit from non-bank providers has grown more than 300% in the last decade. The private … Read More

“What Are the Multiples Like These Days?” and Other Industry Gossip

Originally published as a featured column in the May/June 2024 Issue of Indoor Comfort Marketing. Winter is behind us, and conference season is upon us. The conversations around the industry naturally include the current challenges, new products and technology, the lack of winter and other standard fare. But those discussions will inevitably turn to juicier … Read More

From Sale to Scale: The Benefits of Seller Rollover Equity

Can you cash in and still enjoy future enterprise value? Business owners frequently weigh the value of what they have today against what they could achieve with additional investment. Some choose to run their current operation as efficiently as possible to maximize profitability before selling. Others spot an opportunity, envision a transformed enterprise and bet … Read More

Early 2024 Deal Activity Predictions

Bank lending, private capital, industry consolidation — What lies ahead for fuel delivery and HVAC companies? The new year has brought a continuation of 2023 trends that stemmed from a generally higher interest rate environment, tightened commercial bank lending standards, and the slowing deployment of capital from private equity and loan sources on fewer deals. … Read More

How a Seller Can Enjoy Tax-Free Growth: a QSBS Primer

Sometimes the answers are right in front of us if we view a problem from a different angle. The problem I’m referring to is the tax bite small business owners face when it comes time to sell their businesses. And while it is true that the only certainties in life are death and taxes, there … Read More

The New Player on Your Field: Why You Should Get to Know Private Credit

By now you’ve likely heard that the tide of easy lending from local and regional banks has started to recede in 2023.  Credit decisions have slowed and borrowing standards have edged higher.  We’ve certainly seen it as we talk with business owners in our industry and other capital providers.  What is a fuel distribution or … Read More

The Summer of Uncertainty

“In times of rapid change, experience could be your worst enemy.” – J. Paul Getty For anyone playing in the retail fuel distribution space – either as a provider or in a client support role – you have seen your share of challenges over the years and adjusted accordingly to shore up your operation and … Read More

Keeping Up with the Consolidators

How the Right Capital Partner Can Help Fuel Distributors and HVAC Companies Scale and Succeed Accelerating consolidation. Impending environmental regulation. Competitors looting your already thin technician and driver ranks. It’s enough to disrupt more than one night of any business owner’s sleep. But for most fuel distribution and HVAC companies, it is today’s cold reality. … Read More

Our First Blog Article: Time to Stay or Time to Go?

As we once again enter the high season for heating oil and propane fuel distribution and HVAC industry merger and acquisition activity, I ask our readers:  Are you ready to battle on for another year or is it time to take your chips off the table?  The challenges facing the distributed fuels and HVAC industries … Read More