Written on: January 22, 2021 by ICM
Sail Energy, LLC of Portsmouth, NH has acquired Roberts Energy, LLC’s residential heating oil delivery business, marketed under the trade name Martini’s Oil, based in Johnston, RI. The transaction closed on Jan. 11, 2021.
Delivering warmth and reliability to Rhode Island since 1972, Martini’s Oil serves both residential and light commercial customers. Roberts Energy acquired the central Rhode Island business in April 2019.
“Martini’s has developed trust in the community as the go-to home comfort provider,” Frank Roberts, President of Roberts Energy, remarked. “We are glad to have completed this successful transaction with Sail Energy, who will offer the Martini Oil customers HVAC services and carry on the outstanding delivery service our customers count on. We truly appreciate the professional guidance and skill that Cetane Associates brought to the table. They did a great job and made it easy.”
Since 2014, Sail Energy has operated in the energy distribution market, growing its market through targeted acquisitions and integrated roll-ups. Sail Energy now serves customers in four New England states and New York.
“We are pleased to bring Martini’s Oil into the Sail Energy group,” Dennis O’Brien, President & CEO of Sail Energy, stated. “Their well-known local reputation and loyal customers in Rhode Island are welcome additions to our Vaughn Oil operation. Thanks go to John Tolan as Sail’s project lead in the acquisition and the good folks at Cetane Associates for their assistance through this process.”