Chesapeake Utilities Corp. announced Dec. 17 that its propane subsidiary Sharp Energy executed an agreement to acquire the propane operating assets of Boulden Brothers Propane in Newark.
The parties closed on this transaction Dec. 13. Terms of the transaction were not publicly disclosed.
“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, president and CEO of Chesapeake. “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 provided propane service since 1968, today to approximately 5,200 residential and commercial customers, and sells approximately 3 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.”
For more, visit sharpenergy.com and chpk.com.