Dead River Company Acquires Augusta Fuel, Expanding its Home Heating Services

Dead River Company, the largest full-service heating provider in northern New England, has announced its acquisition of Augusta Fuel Company, a full-service home heating company based in Augusta, Maine. The transaction was finalized on June 27, 2023.

Augusta Fuel Company has a rich history dating back to 1888, when it started as the Augusta Ice Company, supplying ice harvested from the Kennebec River. Over the years, the company transitioned to coal manufacturing and eventually shifted its focus to oil. Augusta Fuel diversified its services through strategic acquisitions in the 1980s and 1990s, expanding into plumbing, refrigeration, air conditioning, and propane. With a proud 135-year legacy, Augusta Fuel has always prioritized community support.

Under the new ownership, Augusta Fuel customers can expect seamless service from Dead River Company, known for its exceptional customer care. The acquisition allows Augusta Fuel employees to join a growing organization that values professional development and growth opportunities. Dead River Company, founded in 1909, has established itself as a trusted heating provider, operating locally managed offices across Maine, New Hampshire, Vermont, and Massachusetts.

Dead River Company President and CEO Casey Cramton expressed appreciation for Augusta Fuel’s business accomplishments and confirmed that Augusta Fuel would continue to operate independently under its brand name. The employees of Augusta Fuel will be welcomed into the Dead River Company family of brands, ensuring a smooth transition for both employees and customers.

Cetane Associates played a crucial role in facilitating the acquisition, serving as the sole arranger and financial advisor to Augusta Fuel. Their expertise in valuation, marketing, and negotiation contributed to the successful transition of the business. The acquisition represents a milestone event for Augusta Fuel, highlighting its commitment to excellent business practices.

The acquisition of Augusta Fuel by Dead River Company marks an exciting home heating expansion, strengthening both companies’ capabilities and reach.