Brideau Energy Corp., Fitchburg, Massachusetts, acquired substantially all the operating assets related to Harrington Oil, Inc., a full-service heating oil business in Holden, Massachusetts, announced Cetane Associates.
The Harrington brothers, Pat, Joe, and Brian, learned the ropes of the oil heat industry from their father Joseph Harrington, founder of Holden Heating Company in 1953. (Holden Heating was sold in the 1980s.) In 2010, the brothers started up Harrington Oil, selling and delivering heating oil to a predominantly residential customer base and operating a terminal. The company also maintains and installs heating and cooling equipment.
Harrington Oil President Pat Harrington said, “Selling to Brideau is a win for our customers, employees, and the community. Their high standards of customer service will make this transition smooth and successful.”
Mark Brideau, who founded Brideau Energy in 1987 and is president of the company, said, “We welcome the good folks at Harrington to the Brideau family and look forward to providing their customers warm winters and friendly, efficient service. We consider ourselves a ‘home comfort’ company and bring that philosophy into all we do.” Cetane Associates (www.cetane.net), Kent, Connecticut, served as the sole arranger and financial advisor to Harrington Oil. The transaction closed on August 2, and was announced by Cetane on Aug. 17.