Hagerstown-based ThompsonGas said Friday it has acquired three propane marketing companies in two southern states, making it the 16th-largest retail propane company in the United States.
The ThompsonGas subsidiary, ThompsonGas-Smokies LLC, purchased Drivers Energy of Dawson, Ga., the Quality/Ideal Gas group in Griffin, Ga., and Tarheel Oil and Propane in North Wilkesboro, N.C., a company news release said.
“We are continuing to greatly expand our presence in the Southeast and the whole East Coast of the United States,” President J. Randall Thompson said in the release.
“ThompsonGas has offered employment to substantially all of the current employees of all three companies,” Thompson said in the release.
The acquisitions increase ThompsonGas’s capacity by about 7 million gallons and will increase annual sales revenue by $26 million, the release said.
Terms of the purchase were confidential, Thompson said in a Friday morning telephone interview.
The addition of the companies adds 32 employees and brings the company’s work force to about 300 people, Thompson said.
With the acquisitions, the company will now serve 190,000 customers in 11 states and operates 52 customer service centers, the release said. Thompson Gas also operates a rail terminal in Baltimore that serves independent dealers and multistate marketers in the mid-Atlantic region, the website said.
“Our intent is to become a national provider of energy in the next five years,” Thompson said.
With the exception of South Carolina, ThompsonGas serves a region that stretches from Pennsylvania in the north to Florida in the south and west to Mississippi, Thompson said.
The three companies bring to 22 the number of acquisitions ThompsonGas has made since it was founded in 1946, the release said. The companies will continue to operate under their existing trade names for one to two years, it said.
ThompsonGas was founded in 1946 in Boonsboro by Lloyd and Dortha Thompson, J. Randall Thompson’s grandparents, he said.
“When I took over the business in 1996, we still had only one store in Boonsboro” with three delivery trucks and about 10 employees, Thompson said.