Sail Energy of Portsmouth, N.H., acquired the assets related to the full-service propane and heating oil delivery and HVAC business of Klebe Fuel Co., whose primary office is in Winsted, Conn.
Matthew “Matt” T. Klebe founded Klebe Fuel in 1989. Starting as a heating oil business, the company grew in 1997 with the addition of a service department, in 2011 when propane delivery was introduced, and in 2018, with the acquisition of Goshen Oil Company. Klebe Fuel is a family-owned and -operated business serving residential and light commercial customers in northwest Connecticut communities. It supports local community causes and employs an experienced staff that includes a team of energy conservation technicians. President and Owner Matt Klebe commented, “Sail Energy brings a new level of business practices and strategies which will benefit our customers and employees. This is a great fit and I couldn’t be happier.”
Sail Energy has operated in the energy distribution market since 2014, growing its market through targeted acquisitions. Sail Energy now serves over 35,000 customers in five New England states, New York, and Pennsylvania. Cetane (www.cetane.net) served as the sole arranger and financial advisor to Klebe Fuel. The transaction closed on March 1, 2023.