Dead River expands operations in Maine

Dead River Co. of South Portland, Maine, purchased the propane and heating oil delivery business and HVAC business of Charlie Burnham Energy & Heating Service, based in Freeport, Maine.

HVAC industry experts Charlie Burnham and George Gyorgy founded Charlie Burnham Heating Service in 1991. In 2009, Jim Enrico joined the company, and the implementation of software and technological innovations helped to scale the business. The three partners established the delivered fuels side of the business in 2013.

“For more than 31 years, our company’s team has been serving our southern Maine neighbors,” Burnham says. “Our factory-trained and manufacturer-certified technicians are experienced veterans. We believe our Charlie Burnham brand has strong synergies with Dead River Co.’s values. And we’re proud to see our dedicated work carry forward in the great hands of Dead River.”

Dead River Co., founded in 1909 by Charles Hutchins, had its roots in the forest products industry. In 1936, Dead River entered the petroleum business and is now a full-service home heating provider in northern New England. It operates locally managed offices throughout Maine, New Hampshire, Vermont and Massachusetts. Dead River also recently acquired Scott Energy of Gloucester, Massachusetts.

“We are honored that Charlie, George and Jim chose Dead River Co. to care for its customers, employees and the communities they serve,” says Casey Cramton, president and CEO of Dead River Co. “We appreciate the expert reputation for excellence and great service that Charlie Burnham Energy & Heating Service has built and will work steadily to preserve its legacy. We are excited to have its employees join our team and look forward to ensuring everyone feels right at home at Dead River Co.”

Cetane Associates served as the sole arranger and financial adviser to Charlie Burnham Inc. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in the negotiation of final deal terms and coordination of the due diligence process. Team members Jeff Brunner, Steve Abbate and Barrett Conway managed the transaction.

Featured homepage image: designer491/iStock / Getty Images Plus/Getty Images