October 24, 2018

Maritime Fuels acquires Affordable Fuels

The Chronicle Herald is reporting that Halifax-based Affordable Fuels has been sold to Maritime Fuels.

Steve Williams was the vendor while Charles Higgins and Ivan Cassell are the principals behind Maritime, which in turn acquired the former Pepco business in Atlantic last year.

This is further consolidation of the heating oil distributor market in NS, which I’ve commented on here over the last several years.

The decision to sell can be a difficult one for any owner but today’s active markets may mean now is the time to sell your business.

Dan Jennings

Merger & Acquisitions Advisor and Business Broker
Partner, BDO, Atlantic