Sail Energy of Portsmouth, N.H., acquired Roberts Energy’s residential heating oil delivery business, marketed under the trade name Martini’s Oil, based in Johnston, R.I., Cetane Associates announced. The transaction closed on Jan. 11.
Since 1972, Martini’s Oil has served residential and light commercial customers. Roberts Energy acquired the central Rhode Island business in April 2019. Frank Roberts, president of Roberts Energy, said, “We are glad to have completed this successful transaction with Sail Energy, who will offer the Martini Oil customers HVAC services and carry on the outstanding delivery service our customers count on.”
Since 2014, Sail Energy has made acquisitions. It now serves customers in four New England states and New York. Dennis O’Brien, president and chief executive officer of Sail Energy, said, “We are pleased to bring Martini’s Oil into the Sail Energy group. Their well-known local reputation and loyal customers in Rhode Island are welcome additions to our Vaughn Oil operation.”
Cetane Associates, which provides financial advisory services to business owners in the retail energy distribution industry, served as the arranger and financial advisor to Roberts Energy. For more information, visit www.cetane.net.