Press Releases

Acquisition Announcement: Beacon Mechanical Service

KENT, Conn. – October 19, 2021 – Cetane Associates LLC is pleased to announce that The Shaffer Company, located in Bristol, Conn., has acquired the assets of Beacon Mechanical Service, LLC, an HVAC, plumbing, and heating oil delivery business in Granby, Conn. The transaction closed on September 29, 2021.

Founded in 2003 by members of the Riggott family–Keith, Patti, and their son Nicholas (Nick)–Beacon Mechanical began as a one-truck mechanical contracting business operating from Keith and Patti’s kitchen table. Today, their fleet of 30 vehicles provides dependable service to their customers in central Connecticut. Following Keith’s death in 2019, Patti and Nick continued successful operations with their reliable team. The company’s signature lighthouse logo and reputation for trustworthy service and performance is recognized throughout the region. Nick Riggott stated, “With our strong emphasis on excellence in delivery and service, we are pleased to now be part of The Shaffer Company because they share those values.” Patti Riggott commented, “Selling to Shaffer is a win for our customers, employees, and the community. To the professionals at Cetane Associates, thank you all. We are grateful for your dedication to completing this complex and successful transaction.”

The history of The Shaffer Company dates to 1890, when it began as a small plumbing shop in Bristol, Conn. With the motto “Total Mechanical Service,” Shaffer’s ability to serve all needs related to plumbing, HVAC, and sheet metal fabrication supports their excellent reputation with both residential and commercial customers. David Hrdlicka, President of The Shaffer Company, remarked, “We welcome the Beacon Mechanical team to our growing business. Their established Connecticut roots are a great addition to our operations based on a philosophy of “Quality & Integrity since 1890.” He continued to say, “We’re grateful to the financial experts at Cetane Associates for their professional and thoughtful guidance through this effective acquisition.”

Fred Lord, Director at Cetane Associates, commented, “We were pleased to work with the Riggott family throughout this transaction. We congratulate them on accomplishing this great transition.”

Cetane served as the sole arranger and financial advisor to Beacon Mechanical Service. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiating the final deal terms, and coordinating the due diligence process. The transaction was managed by team members Fred Lord, Joshua Wolf, and Steve Abbate.

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We were very pleased to have such a knowledgeable and experienced company in our corner with the team at Cetane. It was obvious that they knew the best process and how to get the ball over the goal line. Their advice throughout the process was greatly appreciated and we thoroughly enjoyed working with them.

— Steve Lombardi, Brodeur’s Oil, Moosup, CT