Colby & Gale, Inc., Damariscotta, Maine, acquired the propane, distillates, and HVAC service business of M.W. Sewall Inc., headquartered in Bath, Maine, Cetane Associates announced.
Founded in 1887 by Mark W. Sewall, M.W. Sewall had its origins in shipbuilding along the Kennebec River. The company’s square-masted schooner, the Edward Sewall (which delivered kerosene in the Caribbean through the early 1900s), is depicted in the company logo. Three generations of Edward Sewalls led the growth of the business and transitions to distillates, coal, ice, HVAC service, and eventually propane. In 1992, Edward “Ned” Sewall III became President and led an accelerated growth period including the installation of propane bulk storage. Today M.W. Sewall emphasizes service to its residential and light commercial customers.
Colby & Gale was established by Charlie Gale and Ken Colby, two employees of Etheridge Oil, which they purchased in 1946 and then changed the business name.
Colby & Gale is a full-service, community-based company. Colby & Gale will carry on with the M.W. Sewall brand, its employees, and its business operation locations. Cetane served as the sole arranger and financial advisor to M.W. Sewall. The transaction closed on September 20, 2022.