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Chesapeake Utilities propane unit buys propane operating assets in Pennsylvania

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Chesapeake Utilities propane unit buys propane operating assets in Pennsylvania

Chesapeake Utilities Corp.'s propane subsidiary Sharp Energy Inc. snapped up the propane operating assets of R.F. Ohl Fuel Oil Inc., enabling Sharp Energy to expand its footprint in Pennsylvania.

Sharp Energy acquired the assets from the Lehighton, Pa.-based R.F. Ohl, which provides propane service to over 2,500 customers in the counties of Carbon, Monroe, Northampton, Lehigh, and Schuylkill in Pennsylvania, according to a Dec. 18 release from Chesapeake. Financial details of the deal were not disclosed.

"This acquisition is a strategic fit for our family of businesses and will extend Sharp Energy's reach to new customers, communities and businesses in Pennsylvania," said Michael McMasters, Chesapeake Utilities' president and CEO.

Following the transaction, R.F. Ohl will continue to own its fuel products and heating, ventilation and air conditioning services businesses.

Sharp Energy distributes propane to about 39,000 customers in four states, including more than 6,000 in Pennsylvania. Chesapeake Utilities is involved in natural gas distribution, gathering, processing and marketing, as well as electricity and propane distribution.