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CETANE ANNOUNCES THE SALE OF WALTER A. DWYER, INC.

Written on: May 2, 2023

NEW MILFORD, Conn. – Cetane Associates (“Cetane”) is pleased to announce that Reit Fuel Oil Co. (“Reit Energy”) a Pennsylvania corporation located in Warminster, Pa. has acquired assets related to the delivered fuels, HVAC, and plumbing business of Walter A. Dwyer, Inc. (“Dwyer”), of Ambler, Pa. The transaction closed on April 25, 2023.

With beginnings dating back to 1875, merely ten years after the U.S. Civil War, Dwyer has a lengthy history that includes selling building materials, coal, oil, heating services, boilers, and plumbing. Its founder, Edward Dwyer, was born in 1826. Over the years, members of the Dwyer family have continued to expand the company through diversification and acquisition, creating a well-recognized brand beyond its origins in the Chestnut Hill neighborhood of Philadelphia. Today the sole survivor in a long line of Dwyer family owners is John L. Dwyer, Jr., president and principal. John commented, “Our Dwyer team has provided outstanding service to our residential and light commercial customers in Northwest Philadelphia and Montgomery County for decades. We’re pleased to make this significant transition and know that Reit Energy will carry on a tradition of excellence.” John added, “We’re especially grateful to the team at Cetane for their guidance and expertise to take us smoothly across the finish line.”

As one of the largest full-service home comfort companies in the Delaware Valley, Reit Energy sets itself apart by providing its customers the best value along with courteous and professional service. With an experienced team of technicians and the latest equipment, Reit Energy has served its community since 1945. Reit Energy’s president, Kurt Haab said, “We’re excited to welcome the Dwyer team and their customers to Reit Energy. The fit between our companies is great as we both genuinely care about our customers and keep our promise to serve them personally and professionally.”

Doug Woosnam, Director at Cetane Associates, stated, “It was a pleasure to work with John through this successful transaction with the Reit Energy group. I congratulate both parties on achieving this outstanding result.”

Cetane served as the sole arranger to Dwyer. 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 Doug Woosnam, Fred Lord, and Dalton Brooks managed the transaction.

About Cetane Associates

Cetane is a leading provider of financial advisory services to business owners in the 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.

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