Gault Family Cos. Acquires Fellow Connecticut Operation

The Gault Family Cos. in Westport, Conn., has acquired the full-service energy business of Quinoco Energy Services in Bristol, Conn. Terms of the acquisition were not released.

Quinoco, founded in the late-1800s, is a marketer of propane, fueloil, and HVAC services. It operates 32 vehicles from its three operating locations in the western half of Connecticut.

Gault, a sixth-generation family business founded in 1863, is the oldest family-owned energy company within Fairfield County, Conn. It is a full service provider of propane, Bioheat heating oil, and HVAC services, standby generators, and smart home technology.

Sam Gault, president and CEO of Gault, commented that “Quinoco’s customer-centric approach to service and delivery as well as their commitment to employee engagement very much mirrors our own and is why we had an interest in pursuing this opportunity. We intend to continue operating the business as it has been running under the Quinoco brand with the same employees from the same locations.”

Don Philllips, owner and president of Quinoco, commented, “The Gault family has a reputation for excellence in all its pursuits and for developing very positive client and employee relationships.”

Cetane Associates (Kent, Conn.) was the sole arranger and financial advisor to Quinoco.

SOURCE: The Weekly Propane Newsletter, May 28, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.