Chesapeake - M&A Summary and Business Overview

UtilitiesCompany

Chesapeake M&A Summary

Chesapeake has acquired 6 companies, including 2 in the last 5 years.

Chesapeake’s largest acquisition to date was in 2023, when it acquired Florida City Gas for $923M. Chesapeake has acquired in 5 different US states. The Company’s most targeted sectors include energy services and equipment (34%) and utilities (34%).

Chesapeake Business Overview

Where is Chesapeake headquartered?

Chesapeake is headquartered in Dover, Delaware.

What is Chesapeake’s revenue?

Chesapeake disclosed revenue of 671M USD for 2023 and 681M USD for 2022.

How many employees does Chesapeake have?

Chesapeake has 1,281 employees.

What sector is Chesapeake in?

Chesapeake is an utilities company.

When was Chesapeake founded?

Chesapeake was founded in 1859.

M&A Summary

M&A Total Activity6
- M&A Buy Activity6
Total Sectors Invested 4
Total Countries Invested 1
M&A Buy/Sell Connections 2

Chesapeake

Chesapeake Utilities Corp.

500 Energy Lane,
Dover, Delaware 19901
United States,
(302) 734-6799
www.chpk.com

Chesapeake is a diversified energy company focused on delivering outstanding service and attaining sustainable growth that generates long-term value for our employees, customers, investors, and other stakeholders. Chesapeake was incorporated in 1859 and is based in Dover, Delaware.

M&A Summary

Buy vs Sell

Year		≤ '19	'20	'21	'22	'23	'24	T
Buy (0.2/yr)	#	5	-	-	-	1	-	6
Buy (0.2/yr)	vol	$59M				$923M		$982M
Sell (0.0/yr)	#	-	-	-	-	-	-	0
								6

Most Recent M&A

Company	Date	Value	Type
Florida City Gas	2023-09-26	923M USD	Divestiture
Doral, Florida
Elkton Gas Co.	2019-12-09	-	Divestiture
Elkton, Maryland · www.elktongas.com
Marlin CNG Services	2018-12-19	-	Add-on Acquisition
Trinity, Florida · www.marlingas.com
Gatherco, Inc.	2015-01-30	59M USD	Add-on Acquisition
Orrville, Ohio · www.gatherco.com
Eastern Shore Gas Co.	2012-06-26	-	Add-on Acquisition
Dover, Delaware
Xeron, Inc.	1998-05-29	-	Add-on Acquisition
Houston, Texas
View All >>

M&A by Sector

Sector	Buy #	Value	Sell #	Value
Energy Services and Equipment	2 (33%)	-	-	-
Utilities	2 (33%)	923M (94%)	-	-
Distribution	1 (17%)	-	-	-
Oil/Gas Exploration	1 (17%)	59M (6%)	-	-
Total	6	$982M	-	-

By Geo

State/Country		Buy	Value	Sell	Value
United States		6	982M	-	-
	Florida	2	923M	-	-
	Texas	1	-	-	-
	Ohio	1	59M	-	-
	Maryland	1	-	-	-
	Delaware	1	-	-	-
Total		6	$982M	-	-

Deal Values

buy	#	Total
$100M to $1B	1	$923M
< $100M	1	$59M
TOTAL		$982M
Largest	Florida City Gas $923M (2023-09-26)

M&A Connections

		Deals
Acquired from
Strategic(s)	33%	2 (33%)

Company Summary

SECTOR

Utilities

Revenue

671 2%	2023
681 20%	2022
570 17%	2021
488 2%	2020
480 34%	2019
717 17%	2018
618 24%	2017
499 9%	2016
459 9%	2015
499 13%	2014
444 14%	2013
392	2012
(millions of USD)	Show More Show Less

Employees

1,281

Established

1859

Public

NYSE: CPK

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Chesapeake - M&A Summary and Business Overview

UtilitiesCompany