Oil & Gas Acquisitions in Florida

Thermotane Propane, a family-owned Florida propane company founded in 1947, has acquired Matchett Propane of Interlachen, Florida in a privately negotiated owner-to-owner transaction. The deal expands Thermotane's footprint to three locations and broadens its service area across the Gainesville, Ocala and St. Augustine markets as part of its multi-location growth plan.

Palmdale Oil, a family-owned Florida fuel and lubricants provider headquartered in Palm Beach Gardens, has acquired Maassen Oil Company, Inc., a small Arcadia, Florida-based distributor of refined fuels, lubricants and propane. The deal expands Palmdale's bulk plant footprint and distribution capabilities across Florida, enhancing transportation efficiency and service coverage in markets including Tampa and Fort Myers.

Palmdale Oil has acquired Como Oil & Propane of Florida, expanding Palmdale's fuels, lubricants and delivery platform to include Como's propane capabilities and generator sales/service operations across Southeastern Florida. Como will operate as the Como Propane Division under Palmdale with Michael Bodine and the Florida-based Como team continuing to lead the business; Superior Fuel Company (Como's parent) facilitated the sale.

First Reserve has invested in Palmdale Oil, a Fort Pierce, Florida-based provider of fuels, lubricants, and chemicals, partnering with the Cheatham family who retain a significant ownership stake and leadership roles. The capital will support Palmdale's buy-and-build growth strategy across Florida, including accretive acquisitions, organic expansion, and technology enhancements.

Blue Earth Resources, Inc. (BERI) acquired 100% ownership of Fuel Trader Supply, LLC (FTS) and Fuel Trader Resource Management, Inc. (FTRM) in a transaction settled with cash and BERI common stock. The deal folds FTS's bulk gasoline and diesel distribution capabilities and FTRM's fuel inventory management and futures/hedging services into BERI to expand its product suite and capture end-to-end procurement synergies.