NEW MILFORD, Conn. (Oct. 5, 2023) Cetane Associates is pleased to announce that Sail Energy LLC, of Portsmouth, New Hampshire, has acquired tangible and intangible assets related to the full-service heating fuels and propane delivery business of Blanchard’s Cash Fuel Inc., a Maine corporation. The transaction was completed on Sept. 30, 2023.

In 1995, Don Blanchard started Blanchard’s Cash Fuel with one truck out of an office at his home. Over the past three decades, Blanchard’s has grown to include a facility with multiple office spaces, two garages, a total of 135,000 gallons of heating oil/diesel storage and two 30,000 gallon propane bulk tanks. Don’s pattern of investing in his business has been continuous and encompassed his fleet of vehicles and exceptional customer service in Androsoggin county and surrounding areas. A family-owned and -operated business, five members of the Blanchard family share in the ownership, with Don and his daughter Jessica Blanchard taking the reins of company operations.

Founder Don Blanchard comments, “Our goal has always been to provide our customers what they need and do the same for our employees. This transaction with Sail Energy ensures that goal will continue to be met.”


Jessica states, “My thanks to the real pros at Cetane Associates. They gave us terrific guidance and results!”

Sail Energy has operated in the energy distribution market since 2014, growing its market through targeted acquisitions and integrated roll-ups. Sail Energy now serves over 35,000 customers in five New England states, New York and Pennsylvania. Dennis O’Brien, president and CEO of Sail Energy, stated, “We are happy and excited to bring Blanchard’s Cash Fuel into the Sail Energy family. Their well-known local reputation is a great fit with our strategy of buying great businesses with a history of growth. We look forward to welcoming their team and customers. Thanks go to Cetane Associates for their expert assistance through this process.”

Jeff Brunner, director at Cetane Associates, said, “We are grateful for the confidence the Blanchard family put in the Cetane team to handle this important transaction. They built a great company and it was a pleasure to work with Jessica and the entire family throughout the process. I wish all of them success and happiness in their next chapters.”

Cetane served as the sole arranger to Blanchard’s. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiating the final deal terms, and coordinating the due diligence process. Team members Jeff Brunner, Duncan McMurchie, Fred Lord and Dalton Brooks managed the transaction.