Murphy Business Sales – Triangle & Eastern North Carolina is pleased to announce the successful acquisition of J.T. Jones Propane & Fireplace, a well-established propane distribution and service company located in Powells Point, North Carolina.
J.T. Jones Propane has been a cornerstone in propane distribution and gas services since its founding in 1999. With over 7,000 loyal residential and commercial customers, the company has built a stellar reputation for reliable propane delivery, gas line installation, and expert fireplace services. Over the past three years, J.T. Jones has achieved an average revenue of $2.8M.
Tully Ryan, Senior Advisor at Murphy Business served as the lead Mergers and Acquisition Advisor for the transaction.
Marion Warren, Estate Administrator engaged Murphy’s Triangle & Eastern NC M&A team to handle the sale. Warren praised Tully Ryan and the Murphy team for the smooth transaction:
“The Murphy team made this transaction possible. Between coordinating heirs, lenders and lawyers, Tully and the Murphy team not only facilitated the transaction but made it possible in a seamless, painless fashion.”
Reflecting on the transaction, Tully Ryan noted,“ J.T. Jones Propane’s acquisition comes at a time of growing demand for alternative energy sources, including propane, particularly in residential, agricultural, and industrial markets. The company’s robust financial health, strong customer base, and dedicated workforce were key factors in the successful completion of this transaction.”
About Murphy Business:
Murphy Business of Triangle & Eastern North Carolina offers a full service team headed up by Tully Ryan. A Certified M&A Advisor, Tully specializes in working with business owners exceeding $1 million EBITDA. With a remarkable 97.3% closing price (excluding earn-outs) to list price ratio and an efficient average transaction timeline of just 181 days, Tully is committed to providing business owners with swift and lucrative outcomes.
Murphy Business provides tailored business intermediary and M&A services nationwide with a specific emphasis on large main street and lower middle-market businesses generating revenue between $1 million and $25 million. With a proven track record of successfully managing both buy-side and sell-side engagements exceeding $3.8 billion in various industries across North America, Murphy is recognized as trusted advisors in the field.