HEG Inc., doing business as Haffner’s Energy Group, a wholly owned subsidiary of Energy North Inc., Lawrence, Mass. acquired the full-service fuels business of Ayer Oil Co. of Ayer, Mass., Cetane Associates announced.
Ayer Oil is a home comfort business that has delivered premium heating oil and HVAC services throughout north-central Massachusetts since 1967.
Haffner’s operations are in northeastern Massachusetts, southeastern New Hampshire, and southern Maine. Haffner’s operates a full-service oil and propane delivery business with HVAC service department, thirteen service stations, two convenience stores, and twelve car washes under the Haffner’s brand.
Jeff Black from HEG commented that “Ayer Oil was the perfect fit for us geographically as well as customer and employee make up. We intend to run the business from the existing location with the existing staff under the Ayer Oil brand.”
Kevin Horgan, owner of Ayer Oil, remarked, “I really desired a buyer whose approach to customer and employee relationships mirrored that of my own. Haffner’s Energy Group, a family-owned business, really presented a terrific fit in that regard.”
Cetane Associates advised on the sale, including an initial valuation, marketing the business, negotiation of the final terms, and coordination of due diligence.
PICTURED: Kevin Hogan of Ayer Oil and Jeff Black of Haffner’s Energy Group. Photo courtesy of Cetane Associates.