The deal marks a leadership transition at Warm Thoughts with founder Rich Goldberg retiring after 35 years leading the company.

The new propane buses and fueling station will support cleaner, more efficient student transportation in North Carolina communities.

With diesel hitting an all-time August high of $5.30 per gallon, school districts nationwide are seeking to alleviate the budget strain by switching to propane autogas.

The transaction establishes Frazier & Deeter’s presence in New England and reinforces the firm’s commitment to investing in premier regional markets.