Hermon Oil acquired by family-owned Fabian Oil
Courtesy / Fabian Oil.
Dale Bourgoin, a 24-year employee with Fabian Oil. The nearly 30-year-old company based in central Maine announced today that it has acquired Hermon Oil.
Hermon Oil has been acquired by Fabian Oil, a nearly 30-year-old family-owned company based in central Maine.
Terms of the acquisition were not disclosed.
In a news release announcing the purchase, Fabian Oil stated it plans to keep Hermon Oil’s 1818 Hammond St. location in Hermon for local sales and service. Fabian Oil had about 110 employees prior to the acquisition, while Hermon Oil had five employees.
Four Hermon Oil employees plan to stay on and Fabian anticipates adding another three to four jobs at Hermon’s location, a company spokesman replied in an email to Mainebiz.
In a letter to customers, Hermon Oil President Todd Jackson said it was time for him to retire and look ahead to new adventures.
“It is important to me to make sure that your home energy needs are met with the same level of service you have come to expect from Hermon Oil,” he wrote. “It was also important to me that the buyer was a Maine-based, family-owned-and-operated company with similar values.”
Fabian Oil is assuming responsibility of all Hermon Oil accounts and said customers should see no disruptions in service. Automatic delivery customers will be on the same schedule they were on under Hermon Oil.
“Since 1988, our focus has been on customers, employees and community,” E.J. Fabian, president of Fabian Oil, said in the news release. “Nothing is more important to us.”
Hermon Oil started in 1996, serving the community with heating fuels, propane and associated equipment sales and service.
Fabian Oil was founded in 1988 as a gasoline fillup station in Oakland. Three years later, Fabian began offering heating oil sales to the central Maine area.
Since then, the company has expanded to open additional retail gas stations across Maine and serving a wholesale market throughout New England. Its headquarters remain in Oakland.
Fabian said his company will offer “competitive pricing” to Hermon customers, adding, “There are also additional resources we’re bringing to Hermon, like our employee staffed 24-hour emergency call center for people who have heating situations arise in the overnight hours or on holidays. We are here to help.”
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