Stone Road Energy acquires Dorr Oil

June 27, 2016 By    

Stone Road Energy received the financing to acquire Dorr Oil Co. Inc., based in Manchester, Vt.

Through the acquisition, Stone Road Energy adds Dorr Oil’s storage tanks and equipment. Rush Street Capital served as the financing adviser to Stone Road Energy for the acquisition. The company received $6.5 million in financing from Rush Street Capital for the acquisition on June 17.

“The Dorr Oil acquisition is an excellent opportunity for Stone Road Energy to continue its expansion strategy and create operational synergies,” says Rick Lopez, a partner at Rush Street Capital, in a company statement. “The addition of Dorr Oil will give Stone Road Energy a strong presence in the Manchester, Vt., market and will give the company additional scale in both heating oil and propane distribution.”

According to Rush Street Capital, Dorr Oil will retain its name through this acquisition, as Stone Road Energy does not change the names of the companies it acquires. Stone Road Energy is a heating oil and propane retailer based in Littleton, N.H. The company plans to acquire more oil and propane heating companies in the future.

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