HOP Energy LLC, which is backed by Delos Capital and Shorevest Capital, has acquired Kingston, New York-based Kosco Heritage Energy LLC, a distributor of heating oil. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–HOP Energy, LLC (“HOP”), the largest privately-owned specialty distributor of heating oil, propane, and other petroleum products, has completed the acquisition of Kosco Heritage Energy, LLC (“KHE”).
“HOP is tremendously excited about this acquisition. KHE will be an excellent platform for future growth with other marketers in the area.”
Founded over 50 years ago and based in Kingston, NY, KHE primarily engages in the distribution of heating oil to 21,000 residential, commercial and HVAC customers along the Hudson Valley.
The combined company will continue to serve its customers with expanded product offerings and service capabilities.
Michael Anton, CEO of HOP, said: “HOP is tremendously excited about this acquisition. KHE will be an excellent platform for future growth with other marketers in the area.”
HOP is currently a portfolio company of Delos Capital (“Delos”) and Shorevest Capital (“Shorevest”).
Delos Capital, founded in 2013, is a lower middle market private equity firm specializing in management buyouts, recapitalizations, and growth investments.
Shorevest Capital, founded in 2016, is a lower middle market private equity firm with extensive investing and operating experience.