warm thoughts

CUBBY OIL & ENERGY ACQUIRES STOCKER OIL THROUGH FUELEXCHANGE

Written on: May 6, 2024

Canton, MA – FuelExchange™, the merger & acquisition service of Gray, Gray & Gray, LLP, has announced the completion of an energy market transaction in which Cubby Oil & Energy (Wilmington, MA) acquired Stocker Oil (Topsfield/Peabody, MA).

“Bringing together two great companies, both of which have a strong bond with their customers, is challenging and satisfying,” said Joe Ciccarello, a principal with FuelExchange. “When we were researching the market to find the right buyer for Stocker, we knew it was important to find a company with the same values and commitment to customers that Dick Stocker instilled in his staff, and where his children working in the business would feel welcome and valued. We looked far and wide, and found an ideal fit right next door in Cubby Oil & Energy. It is a good match, and Charlie Uglietto and Dick were very eager to create a deal that worked out well for both sides.”

“When we decided to sell our company, it was important to me and my family that our customers would continue to be well taken care of,” said Dick Stocker, owner of Stocker Oil. “We were very happy to find such a good partner in FuelExchange. The team was very professional and helpful. They took the time to understand our needs and goals, not only for ourselves but also the hopes we had for our customers. They found the right fit and made the process as smooth as possible. It was a pleasure to work with Joe and Marty and the FuelExchange team.”

Charles Uglietto, President of Cubby Oil & Energy, was equally pleased with the process, saying, “Thanks very much for your help and counsel during the negotiations and closing of Stocker Oil. I greatly appreciate your honesty and knowledge and once again enjoyed working with the FuelExchange team at Gray, Gray & Gray. For anyone who is interested in buying or selling an energy business, I would highly recommend seeking the assistance of FuelExchange to navigate the process.”

FuelExchange™ assists those interested in buying, selling or merging a propane, fuel oil, HVAC or plumbing business, helping to facilitate transactions as a “one stop” resource for identifying potential partners, marketing companies for sale, determining business valuation, managing transactions, and developing post-sale financial and operational strategies.

Gray, Gray & Gray is ranked among the country’s Top 200 accounting firms by INSIDE Public Accounting magazine, which also named them to their “Best of the Best” list as one of the nation’s best-managed firms. The firm serves clients in a broad range of industries. Gray, Gray & Gray is a member of CPAmerica Inc., one of the largest associations of independent accounting firms in the United States. For additional information, call (781) 407-0300 or visit www.gggllp.com.