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Dead River purchases Bourne’s Energy

February 15, 2024 By    

Dead River Co. acquired Bourne’s Inc., a full-service propane, heating fuels and pellets delivery business located in Morrisville, Vermont.

Established in 1947 by Robert and Julie Bourne, Bourne’s Energy initially operated as a heating oil delivery service. The business grew and evolved under Bob’s leadership, expanding its services to include repair work in the 1960s. Bob’s son, Peter Bourne, took ownership in 1988. Mike Bourne, Peter’s brother, became part owner in the 1990s, and the company began propane delivery operations in 1994.

Bourne’s Energy has continued to grow, acquiring and integrating various businesses and diversifying its product range to include biodiesel, propane autogas and wood pellets while remaining committed to environmental sustainability.

Peter’s son, Levi, has since become the company president and continues the company’s tradition of giving back to its community and fostering a “whatever it takes mentality” among its employees. Bourne’s Energy now serves more than 12,000 customers across Vermont.

“We are so pleased our family legacy will continue on at Dead River Company,” says Peter Bourne. “Their commitment to their customers and employees matches ours.”

Founded in 1909 by Charles Hutchins, Dead River had its roots in the forest products industry. It entered the petroleum business in 1936. By operating locally managed offices throughout Maine, New Hampshire, Vermont, and Massachusetts, Dead River maintains deep roots in the communities that it serves.

“We are delighted that Peter Bourne has chosen Dead River Company to continue caring for his customers and employees at Bourne’s Energy,” says Casey Cramton, president and CEO of Dead River. “Our shared values will ensure that everyone continues to feel right at home.”

Cetane Associates served as the sole arranger to Bourne’s Energy. 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 Tamera Kovacs, Barrett Conway, Fred Lord, Dalton Brooks and Trey Brasseaux managed the transaction.

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