Colby & Gale purchases M.W. Sewall

September 28, 2022 By    

Colby & Gale Inc., based in Damariscotta, Maine, acquired the propane, distillates and HVAC service business of M.W. Sewall Inc., headquartered in Bath, Maine.

Founded in 1887 by Mark W. Sewall, M.W. Sewall had its origins in shipbuilding along the Kennebec River. Today, its square-masted schooner, the Edward Sewall, which delivered kerosene in the Caribbean through the early 1900s, remains the historic symbol on its company logo.

Three generations of Edward Sewalls led the growth of the business and transitions to distillates, coal, ice, HVAC service and eventually propane. In 1992, Edward “Ned” Sewall III became president and led an accelerated growth period, including the installation of propane bulk storage. Today, M.W. Sewall emphasizes service to its residential and light commercial customers.

Colby & Gale was established by Charlie Gale and Ken Colby. It’s a full-service, community-based company that meets the heating needs of the Mid-Coastal community it serves. Colby & Gale will carry on the M.W. Sewall legacy, maintaining its brand, its employees and its business operation locations.

Cetane Associates served as the sole arranger and financial adviser to M.W. Sewall. 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. Team members Jeff Brunner, Fred Lord and Barrett Conway managed the transaction.

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