Penn-Jersey Propane, based in Hainesport, has been acquired by Pennsylvania-based Kauffman Gas, Vantage Commercial said in a statement.
Vantage Executive Director Ken Richardson worked with Penn Jersey to secure a buyer for the off-market asset, the firm said. The financial terms of the acquisition were not provided.
“I appreciated Ken helping me sell my business and working through the normal deal dynamics along the way,” Penn Jersey owner Bob Campbell said.
The acquisition provided an opportunity for Kauffman, which services residences and businesses in Southeastern Pennsylvania and Northern Delaware, to expand into the New Jersey market.
“Our companies were very well aligned, and the deal went smoothly,” Kauffman President Chris Kauffman said.
