For the past 56 winters, Cortez-based propane company Fraley Co. has been heating homes in the Four Corners. This winter, however, marks the first that longtime owner David Fraley isn’t manning the helm.
In April, Fraley Co. was sold to two out-of-state companies, which are operating the business together. Santa Fe, N.M.-based Honstein Oil is handling the commercial oil and lubricants side of the business, and Idaho Falls, Idaho-based company Brad Hall & Associates is handling the propane side of the business.
Financial details of the sale were not disclosed. The new ownership has retained the name and the majority of the staff.
Fraley had been mulling the decision to sell his family business for at least a year, and when the right offer came along, he made the decision to hand off the 75-year-old company in April.
“There were a lot of things that went into making the decision,” said Fraley. “It was something that you think is sudden, but it really takes years. It was just time.”
His grandfather founded the company in 1939. Fraley’s father took the reins of the company and moved the office to Cortez in 1958.
Ron Honstein, owner of Honstein Oil, said his company was looking for an expansion opportunity in the Four Corners area and Fraley Co. was the perfect fit.
“We were very impressed with the business he built, and wanted to continue that success,” said Honstein. “I run a smaller family company like David’s … one that values good customer service, and respect and appreciation for employees.”
Ownership at Brad Hall & Associates could not be reached for comment.
As for Fraley, he says he’s looking forward to clearing his head and taking time off this winter.
Is another business venture is in the cards?
“I’m going to take a little time here … get this out of my head for a few months and go from there,” he said. “It’s probably not a bad way to spend the winter.”
