CETANE ASSOCIATES - Key Persons

Job Titles:

• Analyst
• Senior Analyst
• Member of NPGA

Barrett joined Cetane Associates' Bethesda, MD, office as an analyst in January 2020. He provides analytical support to the firm's deal execution team, helping clients with the sale of their businesses. As a member of NPGA, Barrett was named to the Propane Industry's 30 under 30 class of 2020. Prior to joining Cetane, he worked for five years as an associate in the wealth management area of HighTower Advisors in Houston. Outside of work, Barrett has been involved various organizations in Houston including Young Professionals in Finance, Yes Prep, and CHARM Ministries. After recently moving with his wife, he plans to get involved in various organizations in the Washington, DC, area. Barrett received a Bachelor of Business Administration degree from Texas A&M University with a concentration in Finance.

Job Titles:

• Director

As a 40-plus year veteran of the delivered fuels industry, Doug has gained a reputation as an industry advocate and a champion for his clients. Doug strives to always do the right thing and his reputation is synonymous with integrity. Doug began his career in a family-owned business, Sinkler Inc., in Southampton, PA. After modernizing and growing the company, he sold the business and joined the Purchaser as Director of Governmental and Industry Affairs and Director of Acquisitions. Doug has always been deeply involved as an industry leader and has contributed to its betterment of the industry through his numerous industry affiliations including the Pennsylvania Petroleum Association (past president), Better Home Heat Council, PMAA (past regional vice-chair), NPGA, NORA, East Coast Energy Council, American Energy Coalition and Delaware Valley Fuel Oil Dealers Association, where he is currently serving as the executive vice-president. Doug has been involved in over 100 acquisitions on both the buying and selling sides. His wide range of familiarity and involvement in so many aspects of the delivered fuels industry make him one of the most knowledgeable advisors in the field today.

Job Titles:

• Director

Fred brings over 40 years of experience in the delivered fuels industry in various operational and financial management roles. Before joining Cetane, Fred had been with HOP Energy and its predecessor as its corporate treasurer for over 25 years where he worked on over 50 acquisitions and multiple refinancings. He has been active in industry trade associations and is currently on the executive committee of the Connecticut Energy Marketers Association. Fred has been involved in numerous acquisitions during his career. His expertise extends the capabilities of Cetane's transaction execution team. Fred brings wide-ranging experience and a friendly manner that is so important in bringing transactions across the finish line. Fred holds a Bachelor of Arts degree in History from Furman University, an MBA from the University of Connecticut and a law degree from Western New England University School of Law.

Job Titles:

• Director
• Managing Director

Jeff has more than 30 years of leadership experience in the propane, distillates and HVAC sectors. He has held senior-level positions in operations, sales and marketing for some of the industry's largest consolidators. His extensive experience in the entire acquisition process, including post-acquisition integration activities, comes from having been involved in more than 70 transactions throughout the eastern United States. Jeff began his career as an accounting manager for a privately held multilocation marketer and quickly advanced to general manager of those businesses. A few years later he became regional sales manager for Petro-Star Gas. He then went to HOP Energy, where he served as their director of operations during a decade of significant growth. Jeff's next stop was Inergy Propane, where he was recruited to serve as division president for the company's largest region, both in customer volume as well as earnings contribution. Prior to joining Cetane, Jeff spent five years with Energy Distribution Partners as their Regional Vice President - Eastern US. These years included growth of more than 20 acquisitions followed by the complete integration of each business unit. Jeff's ability to develop relationships with the sellers contributed significantly to the success of those integrations. Over the years Jeff has been active in various industry associations, serving on the Board of Directors for PPA and PGANE's Legislative Committee, as well as a variety of officer roles in regional associations. Jeff's broad industry knowledge and significant acquisition experience strongly supports the activities of Cetane's origination and deal execution teams.

Job Titles:

• Director of Business Development

For over 30 years, Joe Rosengrant has earned an outstanding reputation working in the propane and delivered fuels industries. Most recently, Joe served in business development roles at ThompsonGas, Superior Plus Corp., and NGL Energy Partners. Earlier in his career, he held diverse roles in operations at Suburban Propane, Piedmont Natural Gas's Piedmont Propane division, and Heritage Propane. Joe is well-known across the country and has been an avid supporter of various industry trade associations. He enjoys travel to meetings where he lends his happy and positive attitude to every encounter he makes. His deep industry knowledge along with his extensive valuation and transaction experience bring a level of professionalism and trust to all his client, colleague, and industry relationships.

Job Titles:

• Managing Director
• Featured Team Member

Joshua joined Cetane in 2013 and oversees the deal execution team. In his current role, Joshua has worked on more than 40 successful sale assignments and numerous valuation engagements. He is a former corporate and investment banker, with more than a decade of relationships and credit portfolio experience in the domestic energy sector. He has extensive knowledge on exploration and production, midstream services, petroleum refining and oilfield services. Joshua has held a variety of marketing and analytical positions at the energy groups of Mizuho Corporate Bank (USA), ABN AMRO Bank N.V., and Crédit Lyonnais. He received a Bachelor of Business from Emory University and holds the Charted Financial Analyst designation. Specialization is the key to our success. Our singular focus provides a true advantage to our clients.

Job Titles:

• Director of Marketing

As the founding chair of the national business council Women in Propane, Nancy Coop has worked diligently to help create a collaborative professional development environment for men and women. Her work history includes owning a nationwide bobtail-building company and serving as a business development executive for the nation's second-largest major marketer. Nancy earned a reputation as a propane industry advocate and now brings her experience to the Cetane team. Nancy's propane career began when the bobtail manufacturing company Jarco, founded by her father, needed a new leader. She acquired the business in 2005 and stepped in as president to ensure the family business stayed vital. She built a sales force, maintained quality and grew revenues. In 2010, Polar Company expressed interest in a strategic acquisition, a transaction completed the same year. By then, Nancy was on the National Propane Gas Association's board of directors and worked consistently toward the future success of the industry. In 2013, Ferrellgas tapped her to represent them in industry relations and in their acquisitions efforts. She continued to serve on NPGA committees and on the Western Propane Gas Association's board of directors. In 2020, Nancy was inducted into the LP Gas Hall of Fame. Her personal warmth, communication strengths and integrity are appreciated by her colleagues and clients.

Job Titles:

• Managing Director

Steve has consulted with and performed financial and operational evaluations on hundreds of retail energy businesses all over the United States. He's built numerous financial models to evaluate and project future performance, enable benchmarking and provide frameworks for operational improvement. Steve is recognized as an expert in the field of end-use energy company valuations by the U.S. Bankruptcy Court in both the District of Connecticut and the Southern District of New York, and the Connecticut Probate Court. He has also served as a Chief Restructuring Officer appointed by the U.S. Bankruptcy Court. Several industry publications have published articles written by Steve on subjects such as improving operational efficiencies, business valuations, hedging techniques, cash flow management and mergers and acquisitions. He is a regular speaker at the Atlantic Region Energy Expo, National Propane Gas Association, Propane Gas Association of New England and the New England Fuel Institute on topics including acquisitions, valuations, process improvements, cash flow management and strategic planning.

Job Titles:

• Manager of Administration

Job Titles:

• in 2018 As the Company 's Administrative Manager
• Manager of Administration

Tara Velsor joined Cetane Associates in 2018 as the company's Administrative Manager. Her role is to support the firm in areas of accounting, administration, information technology, advertising and marketing.