November 2020

New England heating oil and propane companies merge

Two acquisitions in recent weeks in CT & ME

Casey Fuel Oil, Inc., Ridgefield, CT, has acquired the fuel business of Marandola Fuel Service, LLC of New Milford, CT. Terms of the transaction, which closed on Oct. 30, were not revealed. Marandola will retain its name, office and logo.

Established in 1995, Marandola Fuel sells and delivers heating oil to residential customers in Litchfield County in Connecticut. The company also performs maintenance and installation of oil-fueled heating equipment.

“When I started the business I would deliver during the day and drive to Casey Energy in the evenings to refuel,” said Bob Marandola. “They helped me get into the business and were always there for me, especially in the early years. It really has come full circle and I could not be happier for my employees, my customers and my family.”

Casey Energy was founded in 1949 by Bill Casey, and has remained a family-owned and -operated business for three generations. Serving Connecticut’s northern Fairfield and northern Westchester counties, Casey Energy is a full- service heating oil, propane, and HVAC provider.

“Bob Marandola built a successful business and we could not be more pleased to have his company join with ours,” said Shane Casey, President of Casey Energy. “It’s a great propane market and we are looking forward to our expansion into Litchfield county.”

In other news, Dead River Co., South Portland, ME has acquired the heating oil, propane and service business of Fortier & Son, Somersworth, NH. Terms of the deal were not disclosed. Both are family-owned businesses.

Fortier & Son, founded in 1950, sells and delivers propane and heating oil to residential customers from its New Hampshire facility, which includes a 78,000-gallon propane bulk plant, and also performs heating and cooling equipment installation and repair services. Dead River began in 1936 and is now a full-service home heating provider in Maine, Massachusetts, New Hampshire and Vermont.

“Bob Fortier built a successful business, and we are honored that he chose Dead River Company to continue to care for his customers,” said Deanna Sherman, Dead River Company President and Chief Executive Officer. “We appreciate that the Fortier & Son employees will be joining our team and look forward to helping them feel right at home at Dead River Company. We plan to carry on the legacy established by Fortier & Son in the local community.”

Cetane Associates served as the sole arranger and financial adviser to Marandola Fuel and Fortier & Son.