Why Choose ThompsonGas?
We honor a propane company’s legacy, protect their employees and
continue to provide the service that their customers have grown to expect.
In 1946, when Lloyd and Dortha Thompson opened ThompsonGas in a little Boonsboro storefront, their goal was to always stand apart from the competition. Now, over seventy years later, ThompsonGas is still committed to their vision. The Thompsons owned a general store in the small town until the rise of the propane industry. Propane soon became the newest product being offered by the oil companies. Companies began to pop up everywhere providing a new option for heating and cooking. That’s when the Thompsons decided to take the plunge.
After growing organically for a number of years, their son, Jim Thompson, took over and ran the company from the late 1960s to the 1990s. In 1969, Jim incorporated the company as ThompsonGas & Electric Service Inc. In 1982, he oversaw our company’s first acquisition, People’s Gas of Brunswick, MD. He moved the warehousing operations to a facility located on the southern end of Boonsboro and by 1989 doubled the size of the company.
In 1996, Jim Thompson’s son Randy Thompson took the helm. That year he completed the acquisition of Baker & Russell in Shippensburg, PA. The acquisition doubled the size of the company. Randy Thompson decided to expand into new markets and acquired dozens of small, local dealers. During the past decade the company has branched out into 20 states. Over the years the company has continued to grow through propane business acquisitions, providing small business owners a real and viable solution to transition out of the propane industry into whatever they wanted to do.
The reason the company’s propane acquisition program is so successful is simple… we care about the owners, their customers and their employees.We know it’s difficult to make decisions that will impact employees, customers and family. We honor a propane company’s legacy, protect their employees and continue to provide the service that their customers have grown to expect. At ThompsonGas, we’ve learned that “Being Different is a Good Thing.”
As The Seller, You Have Options.
If you’re considering selling your propane company, you’ll be happy to know that with ThompsonGas you have options. We have successfully facilitated many propane acquisitions and understand that every propane business comes with a unique set of specific needs. The majority of our purchases have fallen into one of the following categories:
EXIT THE INDUSTRY
This is the most traditional situation. In this case, the propane seller is looking forward to retirement and is prepared to move onto to the next stage of their life.
TRANSITION GRADUALLY FROM THE INDUSTRY
There are certain instances in which the propane seller prefers to remain with the company for the predetermined period of time, usually taking on a smaller role in order to acclimate and intrduce employees and customers to ThompsonGas.
REMAIN WITH THOMPSONGAS
For some propane sellers, remaining active in the business is a priority. We have had great success in specific acquisitions in which propane sellers have selected to remain with ThompsonGas, continuing their career with a true industry leader.
Quality Gas, Fourpoint L. P. Gas
In 2012 after the death of my business partner and good friend Alton “Bear” Askew, it was decided that we would sell our four location propane distribution company.
We had two main criteria as conditions for a sale. One, to sell to a larger company that could provide a fair price for what we had established and, secondly, to find a buyer that would also make a commitment to our employees to evaluate them fairly and provide benefits to them that we could not provide.
Of the companies we interviewed only ThompsonGas met this criteria, to which we are continually grateful. If the time has come to sell your propane company, I certainly would recommend selling to ThompsonGas.
After working in the business for 60 years, I decided it was time for me to retire from my propane company. I started the process of finding a propane business buyer and had actually consulted with several propane companies. I decided to sell to ThompsonGas.
They were the perfect fit, and understood the value of my propane business. I was confident they would continue the valued service my company had provided for my customers, some of whom had been with me since 1946. I also wanted to sell my propane company to a group who would value my current employees and offer them more benefits than I had been able to provide.
When researching a buyer for Cooperative Propane, I was determined to find an organization that would provide my employees the opportunity for growth.
I carefully studied the path ThompsonGas was taking, confident with their future plans. It was obvious our team could contribute to this candidate’s vision. Since selling my propane business I’ve watched with great pride as our star employees have continued to evolve with ThompsonGas.
We will provide your employees with a safe, rewarding environment, a competitive salary, industry-leading benefits, and ample career advancement opportunities.
We will ensure that your customers contiunue receiving friendly, exceptional service and reliability.
We will make sure your legacy is preserved with a commitment to be customer and community focused.
Dan Carrigan has been a valuable part of the ThompsonGas family since 2012, bringing with him over 25 years of business development, mergers and acquisitions and accounting and finance expertise. Mr. Carrigan enjoys interacting and creating long-lasting relationships with prospective sellers, having reviewed hundreds of propane companies and closing over 70 acquisitions.
Benny Gay joined the ThompsonGas family in 2011 with the acquisition of Cooperative Propane. He has over 35 years’ experience in retail propane operations and fully understands the acquisition process from the perspective of both seller and buyer. He works with the seller from the due diligence process through closing and leads the post-close transition team on site to ensure seamless employee transition and uninterrupted customer service.
Important Questions to Ask Yourself
Selling your propane business is an important undertaking. ThompsonGas has successfully acquired and integrated many propane businesses like yours. We can help you determine what you will need if you are thinking of selling your business either now or in the future.
Does the company’s values and mission align with yours?
Will the company provide exposure, growth and financial stability?
Does the company have a transition plan for your customers and employees?
Will the company maintain your legacy and tradition of excellence?
Does the company give you the option to remain involved with your business?
Will the company pay the proper value of your business?
A Few More Things to Consider
Considering selling your propane company? What do you need to do and when? Without a doubt you want to make as much money as possible and pay as few taxes as possible. Now, we’re not lawyers or tax consultants, but here are a few things to consider if you are a few years out from selling your propane company.
Get your company records in very good order. Anyone serious will want to review them.
Make sure your as many of your propane tank agreements are signed as possible.
Work towards trending upwards margins.
Stop selling propane tanks and focus instead on leases.
Begin working with your accountant to get your revenues and expenses under control.
Keep a close eye on your receivables accounts to keep them at a minimum.
Get started by telling us a little about you and your propane business below.