Happy 50th, Paraco!
November 16, 2018 Paraco News
This year marks the 50th Anniversary for Paraco. The organization takes immense pride in having reached this significant milestone, crediting its success to its current and former employees, along with all its valued and long-standing customers.
Growing from its early days as a welding and industrial gas supplier, Pat Armentano formed Patsems in Mount Vernon, NY in 1968. Pat, the youngest of 10 children, was known as generous, kind and extremely personable. Pat’s success in business was in part due to his ability to connect with people and bring out the best from all of those that worked with him.
Despite lacking a formal education, he was a natural and talented entrepreneur and continued to grow his company throughout the 1970’s. In 1979, on instinct and with very limited resources he purchased Paraco Gas, a small propane marketer in Peekskill, NY. In 1986 the company acquired the assets of Suburban Propane on Long Island, which transitioned the business from a mom and pop to a corporate operation. Over the next 20 years, working with his wife and sons, the company grew into one of the nation’s premier propane retailers.
Today, Paraco is recognized as the 10th largest propane retailer nationally and largest privately-held propane company in the Northeast. Paraco services 120,000 customers in NY, NJ, PA, CT, RI, MA, NH and VT from 27 distribution location. The company has grown aggressively through acquisitions and is proud to now employ over 500 dedicated individuals.
Since 1987 Joseph Armentano, Pat’s son has led and operated the business as Chief Executive Officer and has been instrumental in transitioning the company to a leading multi-state corporation. As the company positions itself for continued expansion through acquisitions and organic growth, Christina Armentano, Pat’s granddaughter, will lead that growth as EVP of Sales and Business Development.
As the company gears up for the next 50 years, the Paraco team reflects on values and life lessons Pat instilled on his children and grandchildren; stressing a strong work ethic, personal responsibility, and respect for oneself and others. The organization continues to be guided by the values Pat initially brought to the business and looks forward to serving its customers in the many years ahead.