Written on: July 7, 2022 by ICM
TexNJ Energy, LLC (DBA Weaver Fuels), Allentown, PA, has acquired the business operations of Apgar Oil Co., Inc., a full-service heating fuels delivery business, and Apgar’s discount brand, Thrifty Fuel, also located in Allentown, PA. Terms of the transaction, which closed on Jun. 30, were not revealed.
Founded in 1947 by Charles and Beatrice Apgar, Apgar Oil set out to deliver residential heating oil and service and install oil-fired boilers and furnaces. The family became involved when their nephew Clark F. Apgar joined the company and later took ownership. Having grown the service area east of Allentown, Clark invited his daughter Jane and later his son Jim to come on board. Upon Clark’s retirement, Jane Domitrowits and James (Jim) Apgar took leadership roles as Secretary/Treasurer and President, respectively. Their efforts for more than three decades resulted in growth through successful marketing of their “full-service” oil heat division, which now includes clean, green renewable bio-heating oil, and starting a discount marketing segment.
“With our strong emphasis on excellence in delivery and service, we are excited to be part of TexNJ Energy because they share those values,” said President Jim Apgar. “Selling to TexNJ Energy is a win for our customers, employees, and the Lehigh Valley community.”
Business partners John Forrest and Steve Mesthos started TexNJ Energy in 2017. Focusing on home heating oil and HVAC services, they’ve closed four acquisition transactions since the company’s inception—the first was Weaver Fuels in 2019. The company is growing fuel sales by strategically targeted acquisitions and growing service by meeting the needs of its Lehigh Valley customers.
“We welcome the Apgar Oil team to our growing business,” said TexNJ Energy President John Forrest. “Their eastern Pennsylvania roots greatly add to our operations, emphasizing local service excellence.”
Cetane Associates served as the sole arranger and financial advisor to Apgar Oil.