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CETANE ANNOUNCES SALE OF SHOSHONE PROPANE, INC.

Written on: May 28, 2024

NEW MILFORD, Conn. – Cetane Associates (“Cetane”) is pleased to announce that an undisclosed buyer has acquired the propane assets related to Shoshone Propane, Inc. (“Shoshone Propane”), a full-service propane business located in Pahrump, Nev. The transaction closed on May 2, 2024.

Owners Susan Sorrells and Robert Haines were brought up in the industry and were familiar with the mechanics of operating a propane business. As the population of the Shoshone region began to grow, they saw an excellent business opportunity in establishing their own propane company based in Pahrump, Nev. and thus, in 1994, Shoshone Propane was born. The business has since grown with the town of Pahrump which is now a bedroom community of Las Vegas and has also expanded into the surrounding areas of Amargosa Valley and Beatty. With strong ties to the community, Shoshone Propane has stood as a dominant force in the region and has become renowned for its quality service and commitment to customers. Susan commented, “After nearly three decades of serving our community, we could not have hoped for a better outcome for the legacy of Shoshone Propane. We extend our heartfelt gratitude to the entire team at Cetane, particularly Tamera Kovacs. Their unwavering support throughout the entire process was invaluable to us.”

Tamera Kovacs, Director at Cetane, commented, “Congratulations to Susan and Robby. They built a fantastic company and it was a pleasure to work with them. We wish them all the best in their next chapter.”

Cetane served as the sole arranger and financial advisor to Shoshone Propane. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiating the final deal terms, and coordinating the due diligence process. The transaction was managed by team members Tamera Kovacs, Griffin Sharp, Dalton Brooks, and Barrett Conway.

About Cetane Associates
Cetane is a leading provider of financial advisory services to business owners in home services industries. Clients engage Cetane to advise on sales, spin-offs, and acquisitions, as well as perform valuation and ad hoc corporate finance assignments. For more information, please visit www.Cetane.com.