Gas South will purchase the Florida assets of Peninsula Energy Services Company (PESCO). a subsidiary of Chesapeake Utilities Corporation, Dover.
Chesapeake is selling off PESCO as it focuses on its utility, pipeline and propane businesses. Financial terms were not announced.
“Our team at Gas South has always been impressed with how PESCO built its gas marketing business in Florida by providing exceptional value and building mutually beneficial business relationships,” said Kevin Greiner, Gas SouthCEO. “When we had the opportunity to acquire this business, we viewed it as a great strategic and cultural fit. We’re excited to have PESCO employees join Gas South to help us expand our retail natural gas business in Florida and elsewhere. We also look forward to continuing a very positive long-term relationship with Chesapeake Utilities as we continue to expand our respective businesses.”
Gas South entered Florida’s commercial and industrial natural gas market in 2014, and will begin serving the acquired customers on Nov. 1.
Gas South is a natural gas provider in competitive markets throughout the southeastern U.S. The company serves more than 300,000 residential, business and government customers in Georgia, Florida, North Carolina and South Carolina