Departure of Directors or Certain

of Sheldon B. Lubar

January 18, 2018, Sheldon B. Lubar notified Kestrel Heat, LLC (

Kestrel Heat

), the



Star Group, L.P. (the


), that he would be retiring as a director of Kestrel Heat effective as of April
17, 2018.

of David M. Bauer

April 13, 2018, David M. Bauer was elected to the Board of Directors of Kestrel Heat (the


), effective
as of April 17, 2018.

Bauer, age 48, has served as the Chief Investment Officer of Lubar & Co. since 2005. Mr. Bauers work experience includes
five years with Facilitator Capital Fund, a Wisconsin-based Small Business Investment Company, and 10 y ears with the accounting
firm of Arthur Andersen, where he led the Wisconsin transaction advisory team assisting private equity funds and large corporations
with their acquisitions and divestitures. He currently serves on the board of several private companies.

Bauer earned a Master of Business Administration degree from Marquette University in 2005 and a Bachelor of Science degree in Accounting
from Marquette University in 1991. He is a Certified Public Accountant and a member of the Wisconsin Institute of CPAs and the
American Institute of CPAs.

Bauer will participate in Kestrel Heats standard compensation program for non-management directors. Mr. Bauer is also expected
to enter into an indemnification agreement with Kestrel Heat, the terms of which are expected to be consistent with the terms of
the indemnification provided to the other directors of Kestrel Heat and by Kestrel Heats limited liability company agreement.
Under the indemnification arrangements with the other directors of Kestrel Heat, Kestrel Heat is required to indemnify directors
to the fullest extent of the law against liabilities, costs and expenses incurred by them in their capacities as a director or
agent of Kestrel Heat if such director acted in good faith and in a manner he reasonably believed to be in or not opposed to the
best interests of Kestrel Heat and the Company, and, with respect to any criminal proceeding, had no reasonable cause to believe
his conduct was unlawful. Any such indemnification will be only out of the assets of the Company.

are no arrangements or understandings with the Company, or any other persons, pursuant to which Mr. Bauer was appointed as a director
of the Board. There are no relationships regarding Mr. Bauer that would require disclosure pursuant to Item 404(a) of Regulation

Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.


By: Kestrel Heat, LLC (General Partner)


/s/ Richard


Richard Ambury


Chief Financial Officer

Date: April 17, 2018

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