CF Makes Tenth Acquisition With Lenawee Farm Bureau Oil Cooperative Inc. Purchase

Crystal Flash has acquired the Lenawee Farm Bureau Oil Cooperative Inc. to expand its footprint and capabilities in southeast Michigan.

The purchase gives Crystal Flash 500-plus new customers who currently purchase home heating oil, gasoline, diesel and lubricant from Adrian-based Lenawee Farm Bureau Oil Cooperative. Two employees of the cooperative will remain with Crystal Flash.

The transaction was finalized in early March. Terms of the deal are not being disclosed. Charter Capital Partners served as financial advisors to Crystal Flash.

“We’re delighted to welcome the customers and employees of the Lenawee County Farm Bureau Oil Cooperative to the Crystal Flash family,” said President Tom Olive. “Our history as an independent fuel distributor aligns with their business model, while their focus on superb personalized service mirrors our own values.”

This is the tenth acquisition in the past five years for Crystal Flash, which is already one of the largest independent distributors of gasoline, diesel fuel and home heating oil in Michigan. Since its founding in 1932, Crystal Flash has grown to more than 250 employees and 15 locations across the state to power home, fleet, farm and businesses.

The Lenawee County Farm Bureau Oil Cooperative was established in 1946 to serve agricultural, commercial, construction and home heating oil customers. The cooperative, which has a single location in Adrian, was run by Oscar Hauch and his son, Fred, for the next five decades.

With support from Charter Capital Partners, Crystal Flash has made nine other acquisitions since 2011 to expand its reach across Michigan’s Lower Peninsula.

• Richardson Oil in Lawrence
• Brenner Oil’s home heat division in Grand Rapids
• Drakes Fuel Service in Schoolcraft
• Elliott Gas & Oil in Gladwin
• Leelanau Propane in Northport
• Heartland Propane in Hart
• CA Murphy in Sturgis
• C. Barron & Sons, Inc. in Monroe
• Owens Propane, Inc. and Owens Propane Service, Inc. in Albion

About Crystal Flash

Crystal Flash is an employee-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 15 locations. Learn more.

About Charter Capital Partners

Established in 1989, Charter Captial Partners is recognized as a premier investment banking firm, with multiple offices in the Midwest. The firm supports middle market companies with a broad range of advisory services, including buy-side / sell-side advisory, business valuation, exit planning, and capital raise for start-ups, acquisition and growth capital. To learn more, visit chartercapitalpartners.com.