Haffner’s acquires Hartmann Oil & Propane

August 9, 2023 By    

Energy North Inc., which does business as Haffner’s, acquired certain tangible and intangible assets related to the full-service heating fuels and propane delivery business of Andrew Hartmann Inc., a New Hampshire corporation that does business as Hartmann Oil & Propane.

Andrew Hartmann, center, celebrates with friends and family at the closing dinner. (Photo courtesy of Cetane Associates) _ Haffner's acquires Hartmann

Andrew Hartmann, center, celebrates with friends and family at the closing dinner. (Photo courtesy of Cetane Associates)

Hartmann was founded in 1989 by Andrew Hartmann and serves residential, commercial and wholesale customers throughout New Hampshire’s sea coast, southern Maine and northern Massachusetts. Since its founding, Hartmann has experienced consistent growth by diversifying product, fuel and service offerings, building a new facility and bulk plant, and adding a cash fuel branch.

“We couldn’t be happier with this transaction,” says Andrew Hartmann, owner and president of Hartmann. “I’m thrilled for our employees and customers to be in the great hands of Haffner’s. Their commitment to the communities they serve is a perfect fit with how we’ve built our business.”

Based in Lawrence, Massachusetts, Haffner’s serves nearly 50,000 customers in Massachusetts, New Hampshire, southern Maine and upstate New York with HVAC, oil and propane distribution, and vehicle services. Haffner’s is a brand of Energy North Group, one of the largest wholesale distributors of fuel in New England and upstate New York, operating more than 70 gas stations, convenience stores, car washes and food service locations.

“Welcoming Hartmann Oil & Propane into our family is a momentous occasion for us,” says Jeffrey Black, head of Energy North Group. “Their customer-centric approach and focus on safety and reliability perfectly align with our values, and together, we are poised to continue providing the highest level of service and care to our extended family of customers.”

Cetane Associates served as the sole arranger to Hartmann. 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. The transaction was managed by team members Barrett Conway, Fred Lord and Dalton Brooks.

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