Email Newsletters

Citizens finances $32M for Worcester firm expansion

An expansion by Worcester fuel distributor Nouria Energy Corp. that doubled its presence in Maine was funded by $32 million in credit from Citizens Bank.

The expansion that was announced last month included the assets of Maine’s J&S Oil, covering eight convenience store locations with fuel, two service stations, three carwash locations, locations, a wholesale fuel supply division and a transport logistics business. The buyout nearly doubled the Worcester-based company’s Maine presence to 31 locations and boosts Nouria’s overall locations to 140 spanning Massachusetts to Maine.

The purchase was done through a restructuring and expansion of Citizen Bank’s existing loan relationship with Nouria Energy.

– Digital Partners -

Get our email newsletter

Stay up-to-date on the companies, people and issues that impact businesses in Central Massachusetts.

Close the CTA