HOP Energy acquires Dominick Fuel

August 30, 2021 By    

HOP Energy of White Plains, New York, has acquired certain assets related to the operations of Dominick Fuel, a full-service heating fuels delivery business located in Norwalk, Connecticut.

Founded in 1945, family-owned Dominick Fuel delivers heating oil, diesel and propane.

“With our strong emphasis on excellence in delivery and service, we are pleased to now be part of HOP Energy because they share those values,” says Randy Dominick, co-owner and general manager of Dominick Fuel and founder Andy Dominick’s grandson.

“Selling to HOP Energy is a win for our customers, employees and the community of Fairfield County,” he adds.

Established over the past 22 years through the acquisition of more than 50 separate heating oil companies, HOP Energy’s service area now stretches across eight states from Vermont to Delaware.

“We welcome the Dominick Fuel team to our growing business,” says HOP Energy CEO Michael Anton. “Their Connecticut roots are a great addition to our operations based on a ‘local people and local service’ philosophy.”

Cetane Associates served as the sole arranger and financial adviser to Dominick Fuel. 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 Jeff Brunner, Fred Lord, Joshua Wolf and Barrett Conway.

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

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