Palmdale to Acquire Como Oil & Propane of Florida

FORT PIERCE, Fla., Oct. 2, 2023 /PRNewswire/ -- Palmdale Oil ("Palmdale"), a leading provider of fuels, lubricants, and chemicals with delivery solutions across the state of Florida, today announced it has acquired Como Oil & Propane of Florida ("Como" or the "Company"), a Florida-based, full-service fuel and propane distributor. Financial terms of the transaction were not disclosed.

The transaction enables Palmdale to strategically expand upon its offerings across fuels, lubricants, and chemicals to include Como's market-leading propane capabilities. Founded in 1967 by Myles Hall, Como Oil & Propane of Florida has thoughtfully grown from a single facility business into a leading, family-operated provider of fuels and propane across Southeastern Florida. Como currently operates five facilities across the eastern Florida coast and provides customers with a range of best-in-class offerings, including propane and fuel distribution services and generator sales, service, maintenance and installation.

Michael Bodine and Como's Florida-based team will continue to lead the Como Propane Division under Palmdale.

"This partnership with Palmdale marks an exciting milestone for Como and is a testament to the strength of the business we've built together across southeastern Florida," said Bob Hall, Chief Executive Officer, and Ryan Gunderson, President, at Superior Fuel Company, Como's parent company. "Palmdale is a Florida-based, family-founded and operated business with a 40-year track record that shares Como's values and culture, and we're confident that the Cheatham family and the Palmdale team are the ideal partner for Como."

"Como has built an impressive business and a reputation as a go-to provider for propane, generators and ancillary services in Southeastern Florida. Bringing together our shared offerings will greatly benefit new and existing customers of both organizations," said Lachlan Cheatham, Chief Executive Officer of Palmdale. "This partnership combines two family-oriented businesses with a shared mission to provide trusted services and solutions for customers across Florida. The addition of Como's propane business expands Palmdale's broad service offering and strengthens our platform as the leading, fully integrated provider of fuels and lubricants in Florida."

Citizens M&A Advisory acted as exclusive financial advisor to Palmdale and Citizens provided debt financing to support the transaction. Legacy Energy Consulting facilitated the sale of Como Oil & Propane of Florida.

About Palmdale Oil
Palmdale is a leading statewide provider of fuels, lubricants, and chemicals with delivery and management solutions. Headquartered in Fort Pierce, Florida, Palmdale is a family-owned business operating in more than 50 counties across Florida.

About Como Oil & Propane of Florida
Como Oil & Propane of Florida is a leading provider of fuels and propane across Southeastern Florida. Como currently operates five facilities across the eastern Florida coast, including in Palm Bay, Vero Beach, Stuart, Palm City and West Palm Beach, where they provide customers with propane and fuel distribution services and generator sales, service, maintenance and installation. 

Contacts

Jonathan Keehner / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449
FirstReserve-JF@joelefrank.com

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SOURCE Palmdale