Sail Energy acquires Hometowne Energy

April 8, 2020 By    

Sail Energy acquired full-service energy business Hometowne Energy.

Hometowne Energy, based in Brockport, New York, has an operational footprint spanning 18 counties in western New York. It sells and delivers bulk propane, heating oil, diesel and gasoline to residential, commercial and agricultural customers. It delivers from five facility locations located in Brockport, Rochester, Penn Yan, Farmington and Newark, New York.

Hometowne Energy’s service department installs and maintains heating and cooling equipment, hot water heaters, fuel oil tanks and indoor air quality devices.

Sail Energy, based in Portsmouth, New Hampshire, is a private equity-backed company founded in 2014 in the energy distribution market. Sail Energy now serves over 25,000 customers across four New England states under the brands of Pioneer Oil and Propane, Murray-Heutz Oil and Propane, Vaughn Oil and Hometowne Energy.

“We are very pleased that Sail Energy chose to become the new owner of Hometowne Energy,” Hometowne Energy CEO Chriss Andrews says. “They have a reputation for maintaining brand integrity and workplace culture when they make an acquisition. This was important to us since we really wanted to assure stability for both our customers and employees.”

“We welcome Hometowne Energy into our family of companies as it extends our operating footprint for the first time outside of New England. The Hometowne Energy team has built a wonderful platform from which we plan to pursue further acquisitions in the region as well as within our New England footprint,” Sail Energy President and CEO Dennis O’Brien says. “Even though our due diligence process is exhaustive, my team really enjoyed working with Chriss and the folks at Cetane Associates to complete this acquisition. We look forward to a smooth transition for both customers and employees.”

Cetane Associates served as the arranger and financial adviser to Hometowne Energy. Cetane advised on the sale, which included providing an initial valuation opinion, marketing the business, negotiating the final deal terms and coordinating the due diligence process. The transaction was managed by team members Steve Abbate, Joshua Wolf and Fred Lord.

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About the Author:

Carly Bemer (McFadden) was the managing editor at LP Gas magazine.

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