Nouria Energy Adds Harry's C-stores to Its Network
The Massachusetts-based company acquires the assets of H.A Mapes Inc.
WORCESTER, Mass. — Nouria Energy Corp. completed its acquisition of the assets of H.A. Mapes Inc.
The transaction includes seven company-operated convenience stores under the proprietary Harry's brand, commission dealer (COCM) sites, leased wagon (DTW) dealers, as well as a network of open dealers and commercial accounts.
"The Mapes family believes that it is our employees and customers who expanded our 87-year-old business, " said Jonathan Mapes CEO and owner of Springvale, Maine-based H.A. Mapes Inc. "Exiting the essential petroleum business, we are comforted knowing staff, customers and the communities we serve will transition favorably into the like-minded organization of Nouria."
He added the "transaction was made more manageable through the amicable Mapes-Nouria relationship created over the past many months. I am grateful to Tony El-Nemr and his high caliber team for helping us get to a new chapter in life."
In a simultaneous move, Nouria Energy has strategically arbitrated the purchase of H.A. Mapes' transportation business, to Brown Bear Co. This sale enables Nouria to streamline operations, maintain strategic focus and leverage core competencies to drive long-term growth, according to the company.
"I want to welcome the Mapes employees to our extended Nouria family." said Tony El-Nemr, founder and CEO of Nouria Energy. "Today marks the beginning of an exciting journey where our collective talents and expertise will merge to create something truly exceptional for our customers and team members.
"This acquisition marks a significant milestone for Nouria. With this purchase, we continue our mission to grow and deliver more value to our customers and employees. The addition of the Harry's brand of convenience stores, the COCM and DTW dealers, and the open dealer network to our portfolio, further strengthens our position in the Northeast market."
H.A. Mapes is a third-generation, family owned and operated business with roots in Springvale, Maine. The company was founded in 1936 by Harry Allen Mapes as a small heating oil provider servicing customers in Springvale. In 1950, Harry's son, Harry Allen Mapes, Jr., joined the business and helped the company expand its reach throughout southern Maine.
For its first 40 years, H.A. Mapes focused on expanding its heating oil business throughout southern Maine. In 1982, Jonathan Mapes formally joined the family business. Under his guidance, H.A. Mapes transitioned from distributing heating oil to motor fuels and became one of the largest distributors in Maine. In 2018, Jonathan began building out the company's convenience retail offerings, and in 2022 he unified each company-operated store with the launch of the Harry's proprietary brand.
Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to H.A. Mapes, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by Spencer Cavalier, co-head of Matrix's Downstream Energy & Convenience Retail Investment Banking Group; Andrew LoPresti, vice president; and Kyle Tipping, senior associate.
Michael Quinlan of Jensen Baird served as legal counsel for H.A. Mapes.
Worcester-based Nouria Energy was founded in 1989, is one of New England's largest family-owned and -operated convenience stores and fuel retailers. It has 175 company-owned locations and a vast dealer network, and is also owns and operates almost 60 independent car wash locations in New England under the Golden Nozzle brand.