Dead River purchases Fortier & Son

Dead River Co. of South Portland, Maine, acquired the heating oil, propane and service business of Fortier & Son of Somersworth, New Hampshire.

From left are Tom Corbett and Griffin Sharp of Dead River, and Bob and Deb Fortier of Fortier & Son. Photo by Jeff Brunner

Established in 1950, Fortier & Son sells and delivers propane and heating oil to residential customers from its New Hampshire facility, which includes a 78,000-gallon propane bulk plant. Its service department performs heating and cooling equipment installation and repair services.

Bob Fortier, owner and president of Fortier & Son and son of founder Robert Fortier, joined the business in 1976 and assumed ownership in 2004, upon Robert’s retirement. Bob Fortier viewed propane as the next step in the company’s expansion, and today the company continues as a full-service heating fuel dealer in a highly focused delivery area.

Family-owned Dead River entered into the petroleum business in 1936 and has since grown to become a full-service home heating provider throughout Maine, Massachusetts, New Hampshire and Vermont.

“We are very pleased that our organization will become a part of Dead River,” says Bob Fortier. “Their local presence is a positive for our customers and a great fit for our employees. I appreciate their family-owned culture.”

“Bob Fortier built a successful business, and we are honored that he chose Dead River to continue to care for his customers,” says Deanna Sherman, president and CEO of Dead River. “We appreciate that the Fortier & Son employees will be joining our team and look forward to helping them feel right at home at Dead River. We plan to carry on the legacy established by Fortier & Son in the local community.”

Cetane Associates served as the sole arranger and financial adviser to Fortier & Son. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiation of the final deal terms and coordinating the due diligence process. Jeff Brunner, Joshua Wolf, Fred Lord and Barrett Conway managed the transaction.