Oil & Gas Acquisitions in Maine

Dead River Co., headquartered in South Portland, Maine, has acquired the oil and propane fuel distribution and service business of Consumers Fuel Co. of Belfast, Maine; the transaction closed on May 6, 2025. Consumers Fuel, a family-owned business founded in 1911 and owned by John Holmes, was advised by Tounge Associates during the sale and will transition operations, customers and employees to Dead River.

Superior Plus Corp. has entered into an asset agreement to acquire Champagne's Energy, an independent retail propane distributor serving Maine that delivers approximately 11 million gallons of propane and distillates annually. The tuck-in acquisition — Superior's second in 2020 — is expected to close in Q3 2020, will modestly increase U.S. propane distribution segment EBITDA, and follows a preferred share investment from Brookfield Asset Management that strengthened Superior's balance sheet.