Chesapeake Utilities Corporation announced that its propane subsidiary, Sharp Energy, has acquired Western Natural Gas Company in Jacksonville, Fla.
The parties closed on this transaction Oct. 26, 2020. Terms of the transaction were not publicly disclosed.
"This is an important acquisition for our Company as it enables Sharp Energy to immediately expand the availability of its propane operations into Florida and build upon our existing propane footprint," said Jeff Householder, President and Chief Executive Officer of Chesapeake Utilities Corporation. "Sharp Energy continues to expand and generate strong performance for our Company. They are an industry leader, providing community gas systems, wholesale capabilities and propane AutoGas to customers throughout the Mid-Atlantic region. Acquiring Western Natural Gas will assist us in meeting customer demand and expanding our propane distribution foundation in Florida."
Sharp Energy is one of the largest propane gas suppliers in the Mid-Atlantic Region. Western Natural Gas has been providing propane service to the First Coast of Florida for more than 80 years. Western Natural Gas provides propane service to approximately 4,000 residential and commercial customers and sells approximately one million gallons of propane throughout four counties in northeast Florida.
"As a family owned and operated business in northeast Florida for over 80 years, the decision to sell was not easy, but it was very clear that Sharp Energy is a company that best replicated our way of doing business with an appreciation for our customers and our employees," said Ken Baker, Executive Vice President of Western Natural Gas Company. "We are confident that Sharp Energy will continue our tradition of safety first, unmatched service and dependability."