Brideau Oil Corp. acquired the heating oil, diesel, and bulk gasoline delivery businesses of Montuori Oil Delivery and related entities. Cetane Associates (www.cetane.net), Kent, Conn., which served as advisor to Montuori Oil, announced the acquisition.
Both enterprises are based in Fitchburg, Mass.
Montuori Oil, founded in 1926, delivers heating oil and diesel to residential and light commercial customers in northern Worcester and Middlesex Counties in Massachusetts, and Hillsborough and Cheshire Counties in New Hampshire under the brand name Montuori Fuel. The company also owns and operates two full-service gasoline stations under the brand name Happy Car, which were not part of the transaction.
Brideau Energy, founded in 1987, is a full-service provider of heating fuels, propane, plumbing, and HVAC services to residential customers throughout north-central Massachusetts and southern New Hampshire.
Michael Montuori, owner and president of Montuori Oil, remarked that “It’s hard to believe that it has been 94 years since my father, Rigo, started what would become Montuori Oil. I began working for him during high school, so I’ve been at this for quite a long time. I faced a decision – really not if to sell, but when to sell and to whom. Selling to Mark Brideau was the perfect fit, as we service customers in the same area, and both companies share the same family business values, with an emphasis on putting the customer first and treating our employees fairly.”
Mark Brideau, president of Brideau Energy, stated that “We’ve known Mike as a respected competitor for many years. We knew he ran a solid delivery operation and treated his employees and customers very well, so we were very excited when we received an invitation to submit an offer for his business. Mike and his team of advisors really helped create a very `boring‘ transaction process, which I mean as a compliment. We look forward to welcoming Montuori Oil’s team of employees and being able to offer Montuori Oil’s customers our propane, plumbing and HVAC services.”
The acquisition, which closed on Sept. 10, was announced on Sept. 21.