Sail Energy purchases Rinker Oil

Sail Energy of Portsmouth, New Hampshire, acquired the full-service propane, heating fuels and motor fuels delivery business of Rinker Oil Corp., headquartered in Cuba, New York.

Founded in 1936, Rinker Oil serves customers in western New York and northwestern Pennsylvania.

“We are excited to participate in the future growth of the company under the capable stewardship of Sail Energy,” says Bill Bradley, owner and president of Rinker Oil.

Sail Energy now serves customers in four New England states, Pennsylvania and New York under the brands of Pioneer Oil and Propane, Murray-Heutz Oil and Propane, Vaughn Oil, Hometowne Energy and Rinker Oil and Propane.

“We are pleased to bring Rinker Oil into the Sail Energy group,” says Dennis O’Brien, president and CEO of Sail Energy. “Rinker Oil and Propane has built a strong platform that will immediately expand our footprint.”

Cetane Associates served as the sole arranger and financial adviser to Rinker Oil. 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 Fred Lord, Steve Abbate and Barrett Conway.

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