Acquisition Announcement: Oxford Oil Company
Cetane Associates LLC is pleased to announce that BantamWesson headquartered in Waterbury, Connecticut has acquired the full-service heating oil business of Oxford Oil Company, LLC (“Oxford Oil”) based in Oxford, Connecticut.
Founded in 1953, Oxford Oil is a full-service heating oil business with residential customers located in the corridor between Waterbury and New Haven, Connecticut.
Energy Management Professionals, LLC, which operates under the name BantamWesson, was formed in 2016 with the merger of Bantam Supply Co., Inc. and Wesson Energy, Inc. With locations in Bantam, Connecticut and Canton, Connecticut, BantamWesson sells and delivers propane and bio-heating fuels and performs HVAC, plumbing, electrical, energy audit, home automation, and air quality services throughout western and central Connecticut.
In a thank you letter to Cetane, Tom Biondi, President of Oxford Oil wrote “I wanted to say how much I appreciate what you and your team at Cetane Associates have done for us. You have been great and without you our sale would never have happened. I will recommend you for your expertise and professionalism. I will never forget your display of confidence and your guidance. You were always there and still are.”
Craig Snyder, President of BantamWesson commented, “We are extremely pleased to have Oxford Oil join our family of companies. The operation dovetails with the southern end of our operating area. We’ve worked with Steve Abbate and his team on a few occasions, so we knew he would help make this acquisition happen for us.“
Cetane Associates, LLC provided intermediary advisory services to both parties for the transaction.
About Cetane Associates:
Cetane Associates, LLC is a leading provider of financial advisory services to owners of businesses in the retail energy distribution industry. Clients engage Cetane to advise on sales, spin-offs, and acquisitions, as well as perform valuation and ad hoc corporate finance assignments. For more information, please visit www.cetane.net.