Reit Energy of Warminster, Pa., acquired assets related to the delivered fuels, HVAC, and plumbing business of Walter A. Dwyer, Inc., of Ambler, Pa., Cetane Associates announced.
With beginnings dating back to 1875, merely ten years after the U.S. Civil War, Dwyer has a lengthy history that includes selling building materials, coal, oil, heating services, boilers, and plumbing. Its founder, Edward Dwyer, was born in 1826. Over the years, members of the Dwyer family have continued to expand the company through diversification and acquisition, creating a well-recognized brand beyond its origins in the Chestnut Hill neighborhood of Philadelphia.
Today the sole survivor in a long line of Dwyer family owners is John L. Dwyer, Jr., president and principal, who commented, “Our Dwyer team has provided outstanding service to our residential and light commercial customers in Northwest Philadelphia and Montgomery County for decades. We’re pleased to make this significant transition and know that Reit Energy will carry on a tradition of excellence.”
Reit Energy is one of the largest full-service home comfort companies in the Delaware Valley. It has served its community since 1945. Reit Energy’s president, Kurt Haab said, “We’re excited to welcome the Dwyer team and their customers to Reit Energy. The fit between our companies is great as we both genuinely care about our customers and keep our promise to serve them personally and professionally.”
Cetane served as the sole arranger to Dwyer. Cetane (www.Cetane.com) advises business owners in the home services industries on sales, spin-offs, and acquisitions; it also performs valuations and ad hoc corporate finance assignments. The transaction closed on April 25, 2023.