Interstate Gas & Oil

Tounge Associates, LLC (TA) is pleased to announce that MacFarlane Energy, based in Dedham, MA has acquired the fuel oil distribution business of Interstate Gas and Oil, based in Sudbury, MA. The transaction closed on November 16th, 2023.

Interstate Gas and Oil has been family owned and operated for over seventy years. The Company has developed a strong reputation for unparalleled customer service since its humble beginnings in 1949. Sean Maloney, the third generation of the Interstate Gas and Oil family, has continued to enhance the company’s reputation of solid service, reliability and trust.

Sean commented on the transaction experience with TA stating “When we decided to consider the sale of the Company, we engaged with Tounge Associates to assess our options. Jeff Sr. and JT Tounge were able to accurately value, market, and generate multiple offers for the business. We have been very pleased with the professionalism and services of Tounge Associates during the entire transaction. Finding a family run and customer focused buyer such as MacFarlane Energy was a great fit for us.”

MacFarlane Energy, founded in 1946, continues to grow through acquisitions by finding the right opportunities to add to the family of companies at MacFarlane Energy. Scott MacFarlane, President of MacFarlane Energy commented on the acquisition stating, “The Maloney Family has always had a great reputation in the market and have shared our same commitment to their customers and employees. The Interstate Gas and Oil operations are a strong addition to our MacFarlane Energy team.”

TA served as the sole advisor to Interstate Gas and Oil. TA completed an initial valuation of the Company, facilitated the confidential solicitation of letters of interest to prospective buyers, assisted Interstate during the deal negotiations, and coordinated the due diligence and closing process between Interstate and MacFarlane.