Business Context and Reporting Period
This Form 8-K filing by STAR GROUP, L.P. reports a material definitive agreement entered into on December 6, 2019, with the transaction closing on December 9, 2019. The Company is a Delaware limited partnership trading on the New York Stock Exchange under the symbol SGU.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, margins, or debt levels. The only financial data disclosed relates to a specific share repurchase transaction:
- Units Purchased: 631,104 common units
- Aggregate Consideration: Approximately $5.9 million
- Transaction Type: Private purchase outside of the Company's unit repurchase plan
Material Changes
The filing discloses a reduction in outstanding common units through a private transaction with Cat Rock Capital Management, L.P.. As of September 30, 2019, Cat Rock Capital Management, L.P. owned 695,872 common units. The purchase of 631,104 units represents a significant portion of that holder's position.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the disclosure of the specific agreement. No unusual items were reported.
Investor Verification Checklist
- Verify the impact of the 631,104 unit reduction on total outstanding shares and earnings per unit.
- Confirm the remaining ownership stake of Cat Rock Capital Management, L.P. following the transaction.
- Review the Company's ongoing unit repurchase plan status, as this transaction was executed outside of that plan.