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Completed Transactions > Business Services > Tradewinds Acquired By Energy North Incorporated

Tradewinds Acquired By Energy North Incorporated

Tradewinds M&A Deal

Date

Dec 2020

Region

Maine

We are pleased to announce the sale of Tradewinds to Energy North Incorporated (ENG).

Located in Bangor, Maine, Tradewinds is a locally owned and operated business with 15 convenient locations across the state. The stores offer premium Citgo fueling stations with ethanol-free options, as well as retail shops and popular eateries for customers to enjoy such as Dunkin’ Donuts and Tradewinds’ own Anchor Deli brand. Craft beers and wines sourced from Maine and the world over are also available. Several locations also feature car washes.

Based in Lawrence, Massachusetts, ENG operates 52 gas stations, convenience stores, car washes and food service locations. “We are excited to welcome the Tradewinds employees and customers from ten properties into the ENG family,” said Jeff Black, Owner & COO, ENG. “We’re looking forward to expanding our gas station, convenience store, car wash and food service footprint within Maine.”

As one of the largest wholesale distributors of fuel in the New England and Upstate New York areas, ENG offers all of the major brands, including: Exxon, Mobil, Sunoco, Gulf and Citgo while continuing to grow its Haffner’s and new Tradewinds proprietary brand. The Haffner’s brand also distributes oil and propane while providing burner service to nearly 50,000 customers in Massachusetts, New Hampshire and Southern Maine. Gasoline, diesel, oil and propane are transported through its sister company, ABS Fuel Systems. Over the past decade, ENG has grown rapidly because of its many successful acquisitions. For more information, please visit www.EnergyNorthGroup.com or www.Haffners.com

Generational Equity Executive Managing Director and M&A-Technology Practice Leader David Fergusson and his team, led by Managing Director, M&A Moses Shmueli and Vice President M&A, Tristan Keeffe, successfully closed the deal. Senior Managing Director Brian Hendershot established the initial relationship with Tradewinds.

“The combination of these family-run businesses was a very logical fit, not only from the perspective of shared core values of providing superior customer experience, treating employees like family, and giving back to the community, but also geographically, as ENG has been acquiring assets in New England and bolstering its presence in Maine,” said Shmueli.

“The acquisition will allow the owners, Chuck and Belinda Lawrence, to focus on running their core supermarket businesses, knowing their customers and employees will be in the good hands of Jeff Black and his family, providing it with the resources needed to continue to grow, thrive and benefit the communities where they do business,” added Shmueli.

If you’d like to explore other transactions our associates have supported in this industry, visit our dedicated Automotive M&A Deals page.

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