CASE STUDIES

Granted, this was an extreme situation, however Chad Pendill owner of Legacy Energy Consulting was able to navigate a successful closing through an extreme event.

This particularly unusual challenge arose for Legacy Energy Consulting when, after two months of marketing the business and finalizing an offer with our preferred buyer, the owner passed away just two weeks after the agreement was signed. This left both our team at Legacy Energy Consulting and his family responsible for completing due diligence and seeing the deal through to a successful closing for the propane business that Legacy Energy Consulting was contracted to sell.

Several factors contributed to successfully closing the sale under such circumstances. Having a knowledgeable business broker who could guide everyone through complications proved invaluable. Selecting the right buyer also made a significant difference; many prospective buyers might have withdrawn following such a major and potentially disruptive event. Fortunately, our chosen buyer responded with integrity, helping expedite the closing process to bring closure to the family, staff, and customers.

While not every sale is marked by such dramatic hurdles, this case highlights the importance of partnering with an experienced, reputable company like Legacy Energy Consulting when selling your propane business. The industry experience of Chad Pendill really played an important role as Chad had to navigate a variety of emotions from all parties and still bridge the gap between the buyer and the seller during these unfortunate set of circumstances that no one could have planned for.

Accurately assessing the market value of your propane company is a critical step when considering a sale. Legacy Energy Consulting has successfully facilitated numerous transactions for propane businesses, often revealing valuations that exceeded owners’ initial expectations.

Chad Pendill, owner of Legacy Energy Consulting, recently shared an illustrative case. A propane company approached Legacy Energy Consulting to request a business valuation for banking purposes, as he was evaluating the acquisition of a local competitor and required an updated valuation of his own business for his financing arrangements.

Upon reviewing the comprehensive valuation prepared by Legacy Energy Consulting, the owner was surprised by his company’s current market value. Following further consultation with Chad Pendill, he chose to pursue the sale of his own company rather than acquire another.

Legacy Energy Consulting managed the project, and within approximately six months, completed the sale at a price consistent with the original valuation that was provided.