Written on: January 11, 2022 by ICM
Sail Energy, LLC of Portsmouth, NH has acquired the assets related to the full-service propane, heating fuels and motor fuels delivery business of the Rinker Oil Corp., Cuba, NY. The transaction closed on Dec. 15, 2021. Terms of the deal were not disclosed.
The long history of Rinker Oil’s growth began in 1936 when Howard S. Rinker acquired a gasoline service station in Cuba, NY, the “Cheese Capital of the World,” and shortly after that began delivering various fuels to local farms and homes. In the 1950s, Rinker’s son Tim joined the business, and ownership was transferred to Tim in the early 1970s. Tim continued the company’s growth through the turbulent business climate of the 1970s and constructed the company’s current office in Cuba, NY, adjacent to the company’s fuel bulk plant. In the next decade, a young William T. (Bill) Bradley, Jr. joined the company and became involved in management, expanding the business and taking on an equity position. With successful acquisitions, the diversification into the bulk propane delivery and service business in 2008, and Tim’s retirement after 53 years at Rinker Oil, Bill successfully continued the company’s trajectory of organic growth under his ownership. The company provides propane, heating and motor fuels and operates an HVAC service department with full installation capabilities throughout western New York and northwestern Pennsylvania.
“At Rinker Oil, we are excited to participate in the future growth of the company under the capable stewardship of Sail Energy,” said Owner & President Bill Bradley.
Since 2014, Sail Energy has operated in the energy distribution market, growing through targeted acquisitions and integrated roll-ups. Sail Energy now serves customers in four New England states, Pennsylvania, and New York, under the brands of Pioneer Oil and Propane, Murray Heutz Oil and Propane, Vaughn Oil, Hometowne Energy, and now Rinker Oil and Propane.
“We are pleased to bring Rinker Oil into the Sail Energy group,” said Dennis O’Brien, President & CEO of Sail Energy. “Rinker Oil and Propane has built a strong platform which will immediately expand our footprint. Thanks go to John Tolan at Sail Energy as the project lead in the acquisition and the good folks at Cetane Associates for their assistance through this process.”
Cetane Associates assisted with the acquisition.