SAINT-THOMAS, NB, May 29, 2024 /CNW/ - Harnois Énergies (HÉ) and Michaud Petroleum announced that they have concluded an agreement that will lead to the creation of a new corporate entity. This entity will pursue the development of their shared market and from here on connects the activities of the two New Brunswick (NB) companies.
The new company will form an entity of approximately 100 employees and will primarily operate in the distribution of fuel, lubricants and specialty products. It will also be responsible for managing operations at three service stations and six oil depots.
This deal will strengthen the position shared by Michaud Petroleum and HÉ in New Brunswick's energy distribution sector. The joint venture will provide customers with many advantages, including expanded territory, increased efficiency, and a more comprehensive product and service offering thanks to the range of products distributed by both companies.
"For our organization, this strategic alignment was as natural as could be. It will enable us to do many things, such as diversify our geographic markets and increase our presence in New Brunswick. With complementary markets, comparable clienteles and our two experienced teams, we are convinced that customers will continue to be well served," affirmed Serge Harnois, CEO of Harnois Énergies.
Hermel Michaud, CEO of Michaud Petroleum, is equally enthusiastic about the agreement. "I wanted to take a moment to express my sincerest gratitude for the opportunity to merge with this esteemed company. We are thrilled to announce this partnership with Harnois Énergies. This new chapter will be very beneficial to our company and the possibilities that lie ahead. This partnership brings the potential for growth and success. The combination of two strong companies will position us both strategically for continued success.
The decision to merge was not taken lightly, and we believe that together we can achieve far more than we could individually. Collaborating with a national company while maintaining the same quality of service that we are known for, will definitely continue to be our commendable goal. Being born and raised in New Brunswick myself, it was important to ensure that we would maintain top-notch service and go above and beyond for our clientele through an unwavering commitment to anticipate and exceed the expectations of our customers. We are proud to represent New Brunswick and our fellow Maritimers. We want to acknowledge the hard work and dedication of everyone involved in making this merger possible. We are excited to combine our strengths, knowledge, and resources to create a truly remarkable future."
The transaction requires prior approval from the Competition Bureau of Canada and was submitted on May 10. The case review process can take several weeks. Until then, the two companies will continue operating separately.
Since its founding in 1958, Harnois Énergies' mission has been to efficiently provide energy sources, specialty products and quality services, all with a friendly customer experience. It distributes petroleum products, propane, lubricants and specialty products across Canada, and looks to the future with its network of electric charging stations and a gas station that offers hydrogen.
HÉ counts on its partner companies and a vast network of sub-distributors to meet the needs of its customers in six different market segments: retail, commercial/services, industrial, residential, agricultural and aviation. Harnois Énergies provides products and services under the Esso and Mobil brands as well as under the private labels Harnois, Pétro-T, H-Go, Énergies Express, AFS Exécutif, Proxi and Proxi Extra.
Harnois Énergies counts on its team of over 1,700 people to achieve its mission.
In March 2018, Harnois Énergies was listed among Canada's Best Managed Companies, standing out for its overall performance and steady growth. In 2024, the company became a member of the Platinum Club. Over the years, Harnois Énergies has become a one-stop shop for its customers. Although enjoying steady growth over the last few years, the company aims to remain an agile organization and on the lookout for new market opportunities.
Based in New Brunswick and operating for more than 60 years, Michaud Petroleum offers a complete range of lubricants and specialty products, as well as fuel. The company stands out for its commitment to offering traditional service, while also benefitting from new technologies and innovations.
SOURCE Harnois Énergies
Press contact: Félix Massé, Communications Officer, [email protected]
Share this article