GRAND RAPIDS, MI, May 04, 2013 (Press-News.org) Crystal Flash Energy announced today that it has acquired some of the assets of Sturgis-based CA Murphy, its fifth acquisition in the past 16 months.
The Grand Rapids-based energy distribution company will now be able to expand its service to residential and commercial customers in the Michigan-Indiana border area. The transaction is expected to be accretive to earnings.
"We are very pleased to welcome CA Murphy to Crystal Flash," said Crystal Flash President Tom Fehsenfeld. "As we look to strengthen our footprint in Michigan and expand further into the Great Lakes states, we will continue to pursue the path of acquisitions. Our company is financially strong and well positioned to grow."
Located at 1100 N. Clay Street, Sturgis, CA Murphy opened its doors in 1976 and delivers home heating fuel, as well as commercial and agricultural fuels. Terms of the deal were not disclosed.
"We are very pleased to join Crystal Flash," said Kelly Murphy, president and CEO of CA Murphy. "For more than 30 years, we have worked diligently to establish a company focused on providing exceptional customer service. We are pleased that our reputation for excellence will continue under the Crystal Flash name."
Since January of 2012, Crystal Flash has also acquired:
• Drakes Fuel Service in Schoolcraft
• Elliott Gas & Oil in Gladwin
• Leelanau Propane in Northport
• Heartland Propane in Hart
The Charter Group serves as the exclusive merger and acquisition advisor to Crystal Flash.
About Crystal Flash Energy
Crystal Flash Energy is a third-generation family-owned energy distribution company focused on commercial and residential customers throughout the Lower Peninsula of Michigan. Established in 1932, Crystal Flash has grown as the demand for energy has evolved, and today concentrates on the sale and distribution of propane, diesel and other fuels. Today, the company is one of the largest independently owned energy suppliers in the state with more than 250 employees in 12 locations. For more information, visit us online at http://www.crystalflash.com.
Crystal Flash Adds CA Murphy, Expands Footprint in Michigan
Crystal Flash Energy announced today that it has acquired some of the assets of Sturgis-based CA Murphy, its fifth acquisition in the past 16 months.
2013-05-04
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[Press-News.org] Crystal Flash Adds CA Murphy, Expands Footprint in MichiganCrystal Flash Energy announced today that it has acquired some of the assets of Sturgis-based CA Murphy, its fifth acquisition in the past 16 months.