Chesapeake Utilities Corporation’s Sharp Energy propane business gained a bigger foothold in northern Delaware and adjacent areas with the purchase of operating assets of Boulden Brothers Propane, Newark.
The parties closed on this transaction on Friday. The terms of the transaction were not publicly disclosed.
The acquisition comes after Chesapeake announced an agreement to acquire Elkton Gas, a natural gas utility serving a portion of Cecil County, MD. Chesapeake offers Sharp propane in areas within its service area that do not have natural gas service.
“This acquisition is a strategic fit for our company as it allows Sharp Energy to further expand the availability of its propane services and resources in our existing Maryland, Delaware and Pennsylvania footprint,” said Jeff Householder, CEO of Chesapeake Utilities Corp. “Sharp Energy has been a significant growth engine within our company and a market leader in the areas we serve, consistently identifying new product and service offerings to meet customer demand, including our community gas systems, wholesale capabilities, and our AutoGas offerings. Adding the propane operating assets of Boulden Brothers will further build upon our strong propane distribution foundation.”
Boulden Brothers Propane, a family-owned and operated company, has been providing propane service since 1968. Boulden provides propane service to approximately 5,200 residential and commercial customers and sells approximately three million gallons of propane throughout Delaware, Maryland, and Pennsylvania.
“We are excited to join forces with Boulden Brothers, a long-standing company in the region that shares the same values as Sharp Energy — a commitment to environmental responsibility, safety and exceptional customer service,” said Andy Hesson, vice president of Sharp Energy. “We look forward to welcoming the Boulden team members into the Sharp organization, and will work toward a seamless transition for all customers.”
Sharp Energy, headquartered in Georgetown, distributes propane to approximately 42,000 residential, commercial and industrial customers in Maryland, Delaware, Virginia, and Pennsylvania.
Sharp has four rail facilities and over three million gallons of propane storage. Further information is available at www.sharpenergy.com. Chesapeake Utilities is based in Dover.