Dead River Company Acquires A. D. & G. Fuel Company

KENT, Conn. (Oct. 21, 2021) – Cetane Associates LLC has announced that Dead River Company LLC of South Portland, Maine, has acquired the heating oil, diesel and service business of A. D. & G. Fuel Co. Inc. of Franklin, New Hampshire. The transaction closed on Oct. 12, 2021.

In 1984, Andrew Desrochers, David Desrochers, and Gary Therrien partnered to acquire a heating oil delivery business associated with the lease of a gas station and convenience store. By 1998, the three partners had grown their business across Merrimack, Belknap, and Grafton counties which led them to expand their facilities by building a 70,000-gallon distillates bulk storage plant. Their steady growth continued, and today, A. D. & G. Fuel Co. is recognized as a leading heating and service provider with a reputation for delivering exceptional service to its customers.

Dead River Company, founded in 1909 by Charles Hutchins, had its roots in the forest products industry. In 1936, Dead River entered the petroleum business and has since grown to be the largest, full-service home heating provider in northern New England. By operating locally managed offices throughout its Maine, New Hampshire, Vermont, and Massachusetts footprint, Dead River can maintain a deep connection to its communities, responding promptly whenever called upon by customers.

A. D. & G. Fuel Co. Partner Andrew Desrochers shared the owners’ appreciation. “David, Gary, and I are very pleased that our organization will become a part of the Dead River Company. They are well-known for their responsiveness, high level of customer service and quality reputation. Their local presence is a positive for our customers and a great fit for our employees. We appreciate their culture driven by their core values of integrity, caring and excellence.” David added, “I sincerely thank Cetane for all they’ve done for us throughout the transaction. We really relied on the help of the expert and thoughtful team at Cetane,” he said.

Deanna Sherman, Dead River Company president and CEO, said, “The A. D. & G. Fuel Company partners built a successful business, and we are honored that they chose Dead River Company to continue to care for their customers. We look forward to their employees joining our team and helping them feel right at home at the Dead River Company.”

Fred Lord, director of Cetane and transaction leader, commented, “It was our pleasure to work with Andrew, David, and Gary to reach the successful completion of their transition. I congratulate these three partners for their hard work over the years in developing a solid and valuable business devoted to excellence in service.”

Cetane served as the sole arranger and financial advisor to A. D. & G. Fuel Co. Cetane advised on the sale, including marketing the business through a confidential process, assisting in negotiating the final deal terms, and coordinating the due diligence process. The transaction was managed by team members Fred Lord, Josh Wolf, and Barrett Conway.