Roberts Energy and Brown Bear Transportation recently acquired New Hampshire-based transportation company Abenaqui Carriers.
Roberts is one of the largest direct fuel suppliers and petroleum common carriers in the Northeast, with the company’s transport division, Brown Bear, being the fastest-growing petroleum hauler in the area, the company said. This acquisition expands their reach, allowing both companies access to resources that will better serve existing and future customers.
Abenaqui Carriers has 100 employees and has served the Northeast region since 1973. They are a family-run company with a loyal base, as well as a dedication to quality and service that mirrors the ideals of Roberts Energy. The Roberts acquisition aims to be as seamless as possible, keeping the trusted Abenaqui Carriers name and continuing business with existing processes in place. There will be no layoffs and the original team is staying aboard.
“Our goal is to provide Abenaqui customers with the latest conveniences and technology while maintaining the personal relationships and high level of service.” Said Frank Roberts, Roberts Energy president. “We look forward to incorporating the specialized carrier services Abenaqui has to offer into our other markets across New England.”
Tenney Group, an industry specialized M&A advisory firm, advised Abenaqui Carriers.
“This is a win for all parties and a great example of how family-owned carriers can both exit and protect their company legacy and employees,” said Spencer Tenney, Tenney Group CEO.
Tenney Group also shared its thoughts on the deal in a separate post.
On Abenaqui’s motivation to sell, the firm said, “The seller had run a very successful business for several years, and despite that, he had additional interests and business holdings outside of the trucking company he was looking to dive into further. In order to further pursue those other interests, the seller knew that he needed to find a partner that would continue the great service of the business and maintain a wonderful home for his employees.”