Daigle Oil Co. of Fort Kent, Me., acquired the propane assets related to Mapleton Oil Company Inc., in Mapleton, Me. The transaction closed on Jan. 26, Cetane Associates announced.
With their roots in the family-run earth moving and construction business, brothers Dale and Tim Wood decided to buy a fuel delivery truck and founded Mapleton Oil Co. in November 2003. Early customers were mainly friends and family, but word-of-mouth and marketing soon grew their customer list. In 2004, they bought a second delivery truck and incorporated the company in 2005. They also added off-road diesel fuel to meet demand from the logging industry. By 2008, they had added propane to their fuel line-up and discontinued the construction side of their business, deciding to focus entirely on fuel.
Owners Dale and Tim Wood are retaining the heating oil and related operations of the business. Dale commented, “Mapleton Oil has been dedicated to providing quality fuels and exceptional service to our customers. We feel Daigle is a great fit for our propane customers and we’re delighted to have completed this sale with them.”
Daigle Oil Co. similarly began with a single fuel delivery truck. Better known as DOC, they were founded in 1955 by Guy Daigle in Fort Kent, Maine. Through the years, Guy continued to expand his fuel oil business by purchasing smaller companies in the surrounding areas. Guy passed the company to his son Rick in 1983, and following his father’s lead, Rick continued to grow the family business through acquisitions. Today, Daigle Oil Company is 100% employee owned and is a leading energy provider in northern and central Maine. Chief Operating Officer of Daigle, Carter Vaillancourt, remarked, “We are excited to welcome Mapleton’s propane customers to our family at DOC. We will continue to serve their customers with the same professionalism and warmth that Mapleton has provided for so many years.”
Cetane (www.Cetane.com) served as the sole arranger and financial advisor to Mapleton Oil Co.