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HOP Energy, a large specialty distributor of heating oil, propane and other petroleum products, acquired KoscoHeritage Energy (KHE), according to a news release.
Terms were not disclosed.
Founded more than 50 years ago and based in Kingston, N.Y., KHE primarily engages in the distribution of heating oil to 21,000 residential and commercial customers along the Hudson Valley in New York.
The combined company will continue to serve its customers with expanded product offerings and service capabilities, said Michael Anton, CEO of HOP.
HOP is currently a portfolio company of Delos Capital and Shorevest Capital.
Delos Capital, founded in 2013, is a New York City-based private equity firm specializing in management buyouts, recapitalizations and growth investments. Shorevest Capital, founded in 2016, is a private equity firm based in Old Greenwich, Conn. — Transport Topics