Tevis Energy, Inc., headquartered in Westminster, Md., acquired the full-service heating oil delivery business of H.B. Steele & Son, Inc. of Orwigsburg, Pa., Cetane Associates announced.
H.B. Steele & Son, a third-generation family business established in 1947, delivers heating oil, diesel fuel, and race fuel. The company, owned an also has a service department and markets itself as “Providing Year-Round Comfort.”
Tevis Energy, founded in 1932, is a locally owned heating oil supplier with thousands of customers across Pennsylvania and Maryland. Stanley (Jack) Tevis III is the current owner of the business, which is approaching 90 years in operation. It was started by Jack Tevis’ grandfather, then led by his father, and, after his father’s death, headed by his mother, Dorothy Tevis.
The Steele family includes Kevin, Cale, and Pamela. “Selling to Tevis Energy was the perfect fit for our company, as we service customers in the same area, and both companies share the same family business values, with an emphasis on putting the customer first and treating our employees fairly,” commented Pamela Steele.
Tevis Energy’s Executive Vice President Bruce Spiridonoff stated, “We’ve known H.B. Steele as a respected competitor for many years. We knew they ran a solid delivery operation and treated their employees and customers very well, so we were glad to receive an invitation to submit an offer for this business. We look forward to welcoming H.B. Steele & Son’s team of employees and being able to offer their customers our residential oil and commercial fuel services.” Cetane (www.cetane.net)served as the arranger and financial advisor to H.B. Steele & Son. The transaction closed on October 1, 2021.