Legacy Propane LLC

June 1, 2026


Legacy Energy Consulting, a prominent merger and acquisitions consulting firm, is pleased to announce the successful sale of Legacy Propane in Allison, IA to Heartland Co-op headquartered in Clive, IA.


Legacy Propane of Allison, IA was originally established as Allison Propane in 1972 and was acquired by Heritage Petroleum of Evansville, IN as part of its much larger acquisition of Diamond Oil in February of 2025.


John Clark, the COO of Heritage Petroleum commented “We have bought 25 companies in 12 years but had never sold anything. The Legacy Energy team presented, then executed a plan seamlessly to make our first selling experience a success. I would not only use them again, but I would recommend them to other companies looking to execute a transition."


Chad Pendill, founder, and President of Legacy Energy Consulting commented "John Clark and Phil Davidson of Heritage Petroleum were a pleasure to work with on this project and it could not have gone any smoother."


Legacy Energy Consulting delivered comprehensive merger and acquisition services to Legacy Propane. These services encompassed the initial valuation, discreetly marketing the business to potential buyers through an efficient and structured sale process, negotiating the final deal structure, and managing the due diligence process between the seller and the eventual buyer. Chad Pendill, Tyler Pendill and Dustin Shafer managed the transaction. This transaction is the first for Legacy Energy Consulting in 2026, and it’s twenty-eighth since 2020.

More Completed Sales

O'Connell Oil Company
By Karlie Mosher July 6, 2026
Learn how we delivered comprehensive merger & acquisition services for the sale of O'Connel Oil Company to Central Farm Service headquartered in Truman, MN.
Undisclosed Oklahoma Propane Company
By Karlie Mosher November 3, 2025
November 3, 2025 Legacy Energy Consulting, a leading firm specializing in mergers and acquisitions, is pleased to announce the successful sale of a distinguished, undisclosed Oklahoma-based propane and refined fuel company. Legacy Energy Consulting delivered comprehensive merger and acquisition services to the undisclosed company. These services encompassed the initial valuation, discreetly marketing the business to potential buyers through an efficient and structured sale process, negotiating the final deal structure, and managing the due diligence process between the seller and the eventual buyer. Chad Pendill and Tyler Pendill managed the transaction. This transaction is the sixth for Legacy Energy Consulting in 2025 and its twenty-seventh nationwide since its inception in 2020 .
Phelan Gas Company
By Karlie Mosher October 21, 2025
October 21, 2025 Legacy Energy Consulting, a leading firm in mergers and acquisitions advisory, announces the successful completion of the sale of Phelan Gas Company, located in Phelan, CA, to an undisclosed buyer. Phelan Gas Company was founded in 2009 by Dustin Shafer after discovering the need for a local customer service focused propane delivery service company to serve Phelan and the surrounding communities. Having a family history in the propane industry, Dustin acquired a piece of property and installed a bulk plant, and Phelan Gas was established. Over the next 15 years Phelan Gas used their customer-focused business plan to bring Phelan Gas to the premier company in the region. Dustin Shafer from Phelan Gas commented “After 15 years of building Phelan Gas Company into a business I was proud of, I decided it was time to sell. Chad and Tyler of Legacy Energy Consulting made the process seamless and successful. Their expertise and dedication shone through as they found the perfect buyer who shared our commitment to exceptional customer service and a strong employee culture. They guided me through every step of the process with clarity and patience, always ensuring I understood each phase. When my enthusiasm got ahead of the process, Chad and Tyler expertly pulled the reins back, keeping us on track. They understood our values and ensured the transition honored the legacy we had built. I couldn’t have asked for better partners in this journey.” Chad Pendill, founder, and President of Legacy Energy Consulting commented "Dustin built a tremendous business in the southern California market that he can be proud of, and it was a pleasure getting to know him and his family and represent them in the sale of their business." Legacy Energy Consulting provided Phelan Gas Company with a full suite of merger and acquisition services. These included conducting the initial valuation, discreetly marketing the company to prospective buyers through an organized and efficient sale process, negotiating the final terms of the deal, and overseeing the due diligence undertaken by both seller and buyer. The transaction was managed by Chad Pendill and Tyler Pendill. This represents the fifth transaction completed by Legacy Energy Consulting in 2025 and the twenty-sixth since 2020 .