Tower Energy in Plainville, Conn., acquired the full-service energy business of Barrieau Oil Co. in West Hartford, Conn., Cetane Associates announced.
Barrieau Oil, founded in 1971, provides heating oil delivery and HVAC and plumbing services to residential customers in much of central Connecticut under the brands Barrieau Oil Co., The James O’Toole Company, Ney Plumbing and Heating, and The Wm A. Murray Company.
Tower Energy, started in 2004 by Nick Scata, is a full-service provider of heating oil, propane, and HVAC services to residential and light commercial customers throughout northwestern Connecticut. Jerry Greco joined Tower Energy in 2019 with the goal of building the company in northwestern and central Connecticut.
Robert “Bob” Barrieau, owner and president of Barrieau Oil, said, “I am very pleased with the sale to Nick and Jerry’s company. The combination of the two businesses should be a real win for the customers and employees of both organizations.” Scata, president of Tower Energy, said, “Bob built a solid business with which we can extend our operations eastward. Given the challenging work environment of the past six months, I’m super pleased to note that the deal process was not significantly impacted. We look forward to continue operating the business under the Barrieau Oil brand into the foreseeable future using its team and facility.”
Cetane Associates (www.cetane.net), Kent, Conn., a provider of financial advisory services to owners of businesses in the retail energy distribution industry, served as arranger and financial advisor to Barrieau Oil. The transaction closed on July 30. It was announced Sept. 15.