On Thursday, March 22 ThompsonGas, headquartered in Frederick, Maryland, announced the acquisition of North Shore Oil & Propane, a leading heating fuel provider in northern Minnesota.
In its press release, ThompsonGas said it, “is proud to welcome North Shore Oil & Propane’s customers to the ThompsonGas family and is committed to serving the residential, commercial and industrial customers who have valued North Shore Oil & Propane’s presence in the region for over 50 years.
“Wade Leblanc built a company with strong values and a commitment to customer service,” said Derek Ashmore, Regional Vice President of ThompsonGas. “The opportunity to carry on his legacy with North Shore Oil & Propane is truly an honor. We look forward offering additional value and services to the community.”
The deal represents the company’s second significant investment in the region, as ThompsonGas purchased the assets of Como Oil & Propane in 2015.
“This acquisition is a blending of two incredible companies,” said George Koloroutis, chief executive officer (CEO), ThompsonGas. “We hired all North Shore Oil & Propane employees upon closing. Their hard work ethic, excellent customer service philosophy and loyalty align well with the values we hold at ThompsonGas and will ensure a smooth transition as we begin working together.”
“This is a smart next step for the future of North Shore Oil & Propane,” said Ashmore. “Our two companies will blend together smoothly with a renewed focus on our customers. This acquisition will allow us to strengthen our service offering to customers to include better efficiencies, enhanced fuel ordering technology, and a better overall value.”
Koloroutis added, “North Shore Oil & Propane will become part of the ThompsonGas family. We have no plans to change the North Shore Oil & Propane brand at this time.
“The strong communities in northern Minnesota make it an excellent place to do business,” said Koloroutis. “The entire team at ThompsonGas is looking forward to expanding our investment in the region and provide our customers with the best products and services available on the market.”
When questioned about any changes in pricing— Como Oil and NSOP have different pricing strategies— Koloroutis responded, “At ThompsonGas, we work hard to provide competitive and fair pricing for all our products and services. We will continue to offer the best overall value possible for our customers. Because the current North Shore Oil & Propane team will remain in place, you can expect to receive the same level of customer service and professionalism you’ve come to rely on.”
As part of the deal, ThompsonGas agreed to retain the current employees at North Shore Oil & Propane, including Wade Leblanc. Also, Derek Ashmore, Regional Vice President for ThompsonGas, will oversee the operations in the region. He has been leading the Como team for almost a year. “His experience in the oil and propane industry as well as his belief in investing in the regions we serve, will be an added benefit to North Shore Oil & Propane customers,” said Koloroutis.
This acquisition strengthens ThompsonGas’ national footprint by expanding the company’s presence in northern Minnesota. Nationally, ThompsonGas provides propane services to more than 100,000 residential and commercial customers across 16 states in the East, Southeast and Midwestern United States.
“We are currently the 12th largest propane retailer in the country,” Koloroutis said.
As far as Leblanc’s role with the company, “Wade will remain on as part of the North Shore Oil & Propane team as a consultant for at least one year,” noted Kolourtis. “He has built an exceptional company and will be a central part of ensuring a smooth transition for employees and customers.”
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