Acquisition Announcement: Mapleton Oil

HOUSTON, Texas. – July 2, 2025 – Cetane Associates (“Cetane”), is pleased to announce that    M. Rafford Trucking, Inc. (“M. Rafford Trucking”) of Ashland, Maine, has acquired Mapleton Oil Co., Inc. (“Mapleton Oil”) of Mapleton, Maine. The transaction closed on June 27, 2025.

Mapleton Oil was founded in 2003 by brothers Dale and Tim Wood, who shifted from their family’s snowplowing and construction business into heating fuel delivery. Starting with one truck and a few loyal customers, the word spread quickly. They incorporated in 2005, expanded into diesel and kerosene, and continued to grow with more trucks, employees, and services, including unmanned fueling stations. Known for their dependability, hard work, and customer-first approach, Mapleton Oil has earned the trust and appreciation of both their customers and the community they proudly serve. “I’m really pleased with how everything turned out,” said Tim Wood, VP and Co-Owner of Mapleton Oil. “We know the company is in great hands with M. Rafford Trucking, and we’re confident they’ll continue to care for our customers and community just as we have. Selling a fuel oil business in Maine comes with some unique challenges, but Cetane did an outstanding job navigating the process. Jeff Brunner, in particular, was instrumental in keeping things on track.”

Rafford Trucking is a family-owned company based in Ashland, Maine, specializing in road work, bridge construction, and site development. With roots dating back to the early 1960s, the business is now led by the second and third generations, continuing a legacy of innovation, quality, and service across Maine, New Hampshire, and Vermont. “We’re excited to be taking on Mapleton Oil,” said Ian Rafford, President of M. Rafford Trucking. “We truly value the relationships they’ve built with their customers and community. We’re honored to carry on that legacy and are committed to providing the same dependable service people have come to expect.”

Jeff Brunner, Director at Cetane Associates, commented, “We are so pleased for Dale and Tim and the outcome of this transaction. It’s a well-earned milestone for two incredibly hard-working individuals. The laws of the State of Maine brought about some complexities, but we were able to work through them successfully. Persevering with Dale and Tim through two separate transactions is at the heart of what Cetane does. We’re proud to have helped bring this deal across the finish line and wish Dale and Tim all the best in their next chapter.”

Cetane served as the sole arranger to Mapleton Oil. 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 Jeff Brunner, Barrett Conway, and Fred Lord managed the transaction.

About Cetane Associates

Cetane is a leading provider of financial advisory services to business owners in the propane, heating oil, pest control, lawn care, landscaping, and HVAC & plumbing industries. Clients engage Cetane to advise on sales, spin-offs, and acquisitions, as well as to perform valuation and ad hoc corporate finance assignments. For more information, please visit www.cetane.com.