Cetane Announces the Sale of West Oil
NEW MILFORD, Conn. – November 14, 2024 – Cetane Associates (“Cetane”) is pleased to announce that Santa Energy, located in Bridgeport, CT, has acquired West Oil Company, Inc. (“West Oil”), located in North Adams, MA. The transaction closed on October 15, 2024.
West Oil Company was founded in 1949 by Edward and Dorothy West. They provided heating oil and burner services and operated from their home. Ed managed deliveries and technical services while Dorothy handled the office. In the 1950s, they focused on expanding their family business while raising three children. Their sons, Joe and Bob, joined in the 1970s as drivers and technicians, and the company added wood and coal heating equipment amid rising fuel prices. In 1984, Joe and Bob took over the business when their parents retired. Bob’s wife, Ann, played a key role in supporting their growth through reliable service and a strong local reputation. Ann West, owner of West Oil, commented, “We couldn’t have sold our business without the Cetane team! I had no idea what it would take to sell our company; it was a lot. But working with Pam, Trey, Jeff and Fred (and others behind the scenes I’m sure), they made it happen. I worked closely with Pam for nine months; she went above and beyond! Cetane is fortunate to have her! Bob and I could not be happier with the decision we made by choosing Santa Energy.”
Stephen and Madelyn Santa started their fuel business out of their home in Stratford, in 1940. Though many aspects of the company have evolved, including the products and services offered by Santa Energy, their commitment to delivering the finest and most reliable fuel services in Fairfield County remains steadfast. Peter Russell, CFO at Santa Energy, remarked, “We’re excited to welcome West Oil to the Santa Energy family. They built a strong business and we will continue to provide their customers with reliable service they can depend on”.
Pam Giordano, Director of Cetane Associates, said, “Bob and Ann were a pleasure to work with. We’re so pleased with the outcome of this transition and we wish them all the best in their new chapter.”
Cetane served as the sole arranger and financial advisor to West Oil. 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 Pam Giordano, Jeff Brunner, Trey Brasseaux, and Fred Lord managed the transaction.
About Cetane Associates
Cetane is a leading provider of financial advisory services to business owners in home services industries. Clients engage Cetane to advise on sales, spin-offs, and acquisitions, as well as perform valuation and ad hoc corporate finance assignments. For more information, please visit www.cetane.com.
Media Contact:
Tara McCauley, 516.965.8761
tmccauley@cetane.com
