Business Context and Reporting Period
This Form 8-K was filed by STAR GROUP, L.P. on September 12, 2019. The report details a material definitive agreement entered into on the same date regarding a unit repurchase transaction.
Key Financial Metrics
The filing reports a specific capital transaction rather than periodic financial performance metrics.
- Transaction Type: Private purchase of common units under a unit repurchase plan.
- Units Purchased: 1,200,000 common units.
- Total Consideration: Approximately $11.3 million.
- Counterparty: Cat Rock Capital Management, L.P.
- Closing Date: September 13, 2019.
The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity for the reporting period.
Material Changes
The primary material change is the reduction of outstanding common units through the repurchase of 1,200,000 units from Cat Rock Capital Management, L.P. As of June 30, 2019, the counterparty held 1,898,480 common units.
Guidance, Outlook, and Risks
The filing does not contain management commentary, forward-looking guidance, or specific risk factors beyond the disclosure of the transaction itself. No unusual items or contingencies were reported in this document.
Investor Verification Checklist
- Verify the exact closing price per unit based on the $11.3 million aggregate consideration for 1.2 million units.
- Confirm the remaining number of common units held by Cat Rock Capital Management, L.P. post-transaction.
- Review the Company's remaining capacity under its unit repurchase plan.
- Check subsequent filings for the impact of this buyback on diluted earnings per share.