West Palm Beach, Fla. (Jan. 3, 2024) — Blue Peak Resources, a merger and acquisitions consulting firm, announced the sale of Harris Propane of Salem, New Jersey, to ThompsonGas LLC of Frederick, Maryland.
Harris Propane has been providing residential and commercial propane to New Jersey, Delaware and Maryland for more than 30 years. Harris began as a chimney cleaning company in 1986 and soon realized the community was looking for more services, so they expanded their offerings to include plumbing, heating, air & electric and propane. Only the propane division is included in the sale to ThompsonGas. All other services will stay in place.
“Selling our propane business was a very personal and emotional decision,” said Debbie Harris, partner, Harris Propane. “We were presented with many options but felt ThompsonGas would be the best fit for our employees and customers. Special thanks to Andy Hino and the entire Blue Peak team for their guidance and expertise throughout the process.”
“We’re thrilled to welcome Harris Propane into the ThompsonGas family of companies,” said Erik Peterson, CEO of ThompsonGas. “Their team's steadfast dedication to safety and ensuring an exceptional customer experience resonates with our fundamental principles, positioning us to consistently provide top-notch service to customers in South Jersey, Northern Delaware and Northeast Maryland.”
Blue Peak Resources, an advisor to Harris Propane, served as the facilitator and negotiator. The team provided the financial valuations, prepared the business offering package to potential buyers and assisted in the negotiations and final deal terms.
