The Legacy Energy Consulting Business Sale Process: Edition 6 of 7

October 13, 2026


After the LOI is signed and diligence is underway, the transaction moves into negotiation of the definitive purchase agreement, usually an APA or SPA. This is where business terms become binding legal obligations, closing conditions are finalized, and risk is allocated between buyer and seller.


Key negotiation themes: The agreement addresses structure, transferred assets and liabilities, purchase price adjustments, representations, disclosure schedules, indemnification, employee matters, consents, closing requirements, and post-closing responsibilities.


Why guidance matters: These decisions can affect taxes, proceeds, liability exposure, employee continuity, and obligations after closing. Legacy Energy Consulting works with our clients' advisors to keep the agreement aligned with their goals and the realities of the transaction.

Client Testimonial

"Chad and Tyler put together a great strategy for taking our company to market and Chad's diligence and organizational skills proved valuable in getting a tough deal done. Their professionalism and experience made us comfortable with the process as a whole and we could have not gotten this deal done without them. We not only made the right decision using Legacy Energy Consultants for marketing our business, but we also made some great friends in the process!"


Jim & Cathy Wallace, San Isabel Services Propane, Pueblo, CO

More Completed Sales

J-M Transport logo, a Millington, Illinois propane and liquid bulk transportation company acquired by Hilco

J-M Transport

By Chad Pendill • September 29, 2026
Learn about our sale of J-M Transport, a propane and liquid bulk carrier in Millington, IL, to Hilco. Crystal Flash and Legacy Energy Consulting closed the deal.
O'Connell Oil Company

O’Connell Oil Company

By Karlie Mosher • July 6, 2026
Learn how we delivered comprehensive merger & acquisition services for the sale of O'Connell Oil Company to Central Farm Service headquartered in Truman, MN.
Legacy Propane LLC

Legacy Propane LLC

By Karlie Mosher • June 1, 2026
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.