American Lease, a Delaware corporation, acquired the residential distillates delivery and service business of Sperr’s Fuel & Heating Co. in Glen Mills, Pa.
A family-owned business founded in 1983 by John L. Sperratore, Jr., Sperr’s Fuel grew first by word of mouth and from new accounts developed through LIHEAP. After 35 years John wanted to retire, coinciding with his son Mark and daughter-in-law Laura stepping into manage the business. By 2018, Mark and Laura became owners who made updates to the company’s website and digital marketing, relocated their facility, and hired new employees.
American Lease is the fleet arm of American Energy Supply, led by President Kristen Baiocco. The business has a history that dates back to the 1970s when Kristen’s father Russell J. Baiocco established a reliable fuel supply for construction projects. Today, the business is certified with The Women’s Enterprise National Council as a business owned and operated by two women, Kristen Baiocco and Maria Baiocco.
The transaction closed on June 28, 2023. Cetane Associates (www.cetane.com) served as the sole arranger and financial advisor to Sperr’s Fuel.