Dead River purchases Scott Energy

October 7, 2022 By    

Dead River Co., based in South Portland, Maine, acquired the distillates, propane and HVAC service business of Scott Energy Co., based in Gloucester, Massachusetts.

Scott Energy formed in 1946 when Ed Scott Sr. founded the company under the name Scott Oil Co., employing one used oil truck for deliveries and performing service for customers out of the trunk of his car. After World War II, conversions from coal to oil became popular and helped to drive the company’s success for 30 years.

Ed’s sons, William (“Bill”) E. Scott and Ed Scott Jr., joined the company and helped to grow the business, ultimately purchasing the company from their father in 1978.

In 2006, Bill purchased his brother’s interest in the company and was soon joined in the business by his sons, Adam and Taylor. In the 2010s, the family decided to change the company name to Scott Energy to more accurately represent the growing variety of products and services offered. Shortly after the change in brand, a propane division was added to the business, which today includes a propane bulk plant that supports thousands of customers in the North Shore cities and towns from Lynn to Newburyport, Massachusetts.

“For more than 76 years, our family has been serving our neighbors,” says Scott Energy co-owner Bill Scott. “Our experienced employees will continue to bring fuel delivery and service to our valued customers. We think that the Scott Energy brand has strong synergies with Dead River Co.’s values. We’re proud to see our family legacy move into the next chapter.”

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.

“We appreciate the exceptional nature of the business the Scott family has built and will work steadily to preserve their legacy in the North Shore communities,” says Casey Cramton, Dead River Co. president and CEO. “We are excited to have the Scott Energy employees join our team and look forward to ensuring they feel right at home at Dead River Co.”

Cetane Associates served as the sole arranger and financial adviser to Scott Energy. 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, Fred Lord, Steve Abbate and Barrett Conway managed the transaction.

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