Approved Oil Company Acquires Original Energy
BROOKLYN, N.Y., Dec. 30, 2020 -- Approved Oil Company today announced the successful completion of its acquisition of Original Energy's – Heating Oil and Service Division. Established in 1928, Original Energy has been delivering heating oil and offering mechanical services to commercial and residential customers throughout New York City.
"This acquisition is in-line with Approved's strategy to increase market share throughout New York's Metropolitan area," said Chris Fazio, Approved's Executive Vice President, adding
"We look forward to working with Jim Slattery and the rest of Original's sales team to help onboard their customers into the Approved family of service."
"For the past several years, Approved's corporate mission has been to become the leading Full-Service Energy Supplier in the Greater New York area and this acquisition brings us one step closer to accomplishing this goal," said the company's President and CEO, Vincent Theurer, adding that "This is our fifteenth acquisition in recent years, and we will continue to explore new opportunities as we look to increase our customer base with our first-class products and services. "
The Approved brand has grown significantly since the early 2000's, with acquisitions developing into what has come to be known as, "The Approved Companies." These companies include Approved Oil, Approved Energy, Approved Plumbing and Fire Protection, and Approved Wholesale Group, with the latter having terminal locations in NY, NJ and MD.
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SOURCE Approved Oil Company