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Sail Energy purchases Blanchard’s Cash Fuel

October 13, 2023 By    

Sail Energy of Portsmouth, New Hampshire, acquired tangible and intangible assets related to the full-service heating fuels and propane delivery business of Blanchard’s Cash Fuel, a Maine corporation.

In 1995, with one truck, Don Blanchard started Blanchard’s Cash Fuel out of an office at his home. Over the past three decades, Blanchard’s has grown to include a facility with multiple office spaces, two garages, a total of 135,000 gallons of heating oil/diesel storage and two 30,000-gallon propane bulk tanks.

A family-owned and -operated business, five members of the Blanchard family share in the ownership, with Don and his daughter Jessica Blanchard taking the reins of company operations.

“Our goal has always been to provide our customers what they need and do the same for our employees,” says Don Blanchard. “This transaction with Sail Energy ensures that goal will continue to be met.”

Sail Energy has operated in the energy distribution market since 2014, growing its market through targeted acquisitions and integrated roll-ups. Sail Energy now serves more than 35,000 customers in five New England states, New York and Pennsylvania.

“We are happy and excited to bring Blanchard’s Cash Fuel into the Sail Energy family,” says Dennis O’Brien, president and CEO of Sail Energy. “Their well-known local reputation is a great fit with our strategy of buying great businesses with a history of growth. We look forward to welcoming their team and customers.”

Cetane Associates served as the sole arranger to Blanchard’s Cash 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. Team members Jeff Brunner, Duncan McMurchie, Fred Lord and Dalton Brooks managed the transaction.

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