Matrix Advises Singer Energy Group, Inc. d/b/a Robison on its Sale to an Affiliate of Star Group, L.P.

RICHMOND, VA / BALTIMORE, MD – September 5, 2024 – Matrix Capital Markets Group, Inc., a leading, independent investment bank, has advised Singer Energy Group, Inc. and its affiliates d/b/a Robison (“Robison” or the “Company”) on the sale of its integrated heating oil distribution and HVAC services business to an affiliate of Star Group, L.P. (NYSE: SGU). Headquartered in Port Chester, New York, Robison is a leading distributor of heating oil and provider of home comfort solutions in and around Westchester and Putnam Counties, New York.

The Company’s history dates back to the 1920s when members of the Singer and Robison families founded and began operating separate heating oil and petroleum marketing companies. The two companies remained separate until 1984 when Saul Singer and other members of the Singer family purchased Robison from Mobil Oil, which had gained control of Robison during the oil crisis of the 1970s. During the next several years, the Singer family continued to expand the Company by acquiring over 15 heating oil distributors in and around the greater New York City metropolitan area.

Daniel Singer, Robison’s current President and CEO, joined the Company in 1996 when it was still focused exclusively on residential heating oil distribution. In subsequent years and through a series of organic and inorganic growth initiatives, Robison also began distributing heating oil to commercial accounts and marketing HVAC and other related home services to customers throughout its marketing territory. Under Daniel Singer’s leadership, Robison has transformed into a diversified and sophisticated home comfort solutions provider whose services range from supporting traditional oil-burning and bio-heat mechanical systems to servicing and installing air-sourced heat pumps, complex geothermal heating and cooling systems, standby generators, and other modern home comfort systems.

Matrix provided merger and acquisition advisory services to Robison, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by Stephen Lynch, CPA, CFA, Managing Director; Spencer Cavalier, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; James Mickelinc, CPA, Associate; and Reilly Erhardt, CPA, Senior Analyst.

Mr. Singer, President and CEO of Robison, commented, “The anticipated anxiety of selecting the right stewards to help guide us through this turning point in our family and company’s history was immediately relieved once I met Spencer, Stephen, and the rest of the Matrix team. Matrix brought precisely the right balance of a true investment bank with deep knowledge and contacts within the financial markets, along with unsurpassed industry insights and personal attention that allowed us to reach all of our desired transaction goals. As I and the rest of the Robison leadership team turn our collective attention to our next chapter, we could not be happier with the warm welcome and experienced leadership we have all encountered with Star Group’s team of professionals.”

Mr. Lynch added, “We are grateful to have worked with Robison to honor the rich legacy created by both the Robison and Singer families. The Company’s commitment to its customers in Westchester and Putnam counties is unwavering, and we fully believe that Star Group will continue to build upon what the Company has already accomplished. We are very thankful to have been given the opportunity to serve as the advisor to Robison on this transaction.”

Joel Lever, Joel Goldschmidt, Caroline Keegan, and Jillian Anzalone of Kurzman, Eisenberg, Corbin, & Lever, LLP served as legal counsel for Robison.

Star Group, L.P. was represented by Karen Murphy and Harrison Kaufman of Bressler, Amery, & Ross P.C.