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Daigle Oil Co. purchases Mapleton Oil Co.

February 8, 2024 By     0 Comments

Daigle Oil Co. of Fort Kent, Maine, acquired the propane assets related to Mapleton Oil Co., a full-service delivered fuels business located in Mapleton, Maine.

With roots in the earth moving and construction business, brothers Dale and Tim Wood bought a fuel delivery truck and founded Mapleton Oil in November 2003. Early customers were mainly friends and family, but word-of-mouth and marketing soon grew their customer list. In late 2004, they bought a second delivery truck and, in 2005, incorporated the company. They also added off-road diesel to meet demand from the logging industry. By 2008, they had added propane to their fuel lineup and discontinued the construction side of their business, deciding to focus entirely on fuel.

“Mapleton Oil has been dedicated to providing quality fuels and exceptional service to our customers,” Dale Wood says. “We feel Daigle is a great fit for our propane customers, and we’re delighted to have completed this sale with them.”

Daigle Oil Co. began with a single-fuel delivery truck. Better known as DOC, the company was founded in 1955 by Guy Daigle. Through the years, Daigle expanded his fuel oil business by purchasing smaller companies in the surrounding areas. He passed the company to his son Rick in 1983. Following his father’s lead, Rick grew the family business through acquisitions. Today, Daigle Oil is 100 percent employee-owned and serves northern and central Maine.

“We are excited to welcome Mapleton’s propane customers to our family at DOC,” remarks Carter Vaillancourt, COO of Daigle Oil. “We will continue to serve their customers with the same professionalism and warmth that Mapleton has provided for so many years.”

Cetane Associates served as the sole arranger and financial adviser to Mapleton Oil. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, negotiating the final deal terms, and coordinating the due diligence process. Team members Jeff Brunner, Barrett Conway and Dalton Brooks managed the transaction.

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