Continuing its expansion in the Southeast, ThompsonGas has become the 17th largest supplier in the country. (image: ThompsonGas via flickr.com)
The Maryland propane company ThompsonGas has purchased a pair of dealers in the Southeast, making them the 17th largest propane retailer in the country, according to a statement released Friday.
ThompsonGas picked up Central Propane Gas in North Carolina and L&L Propane in Alabama, for its fifth and sixth acquisitions of the year. All of its new buys are located in the South.
Founded in 1946, the Hagerstown-based ThompsonGas currently serves 150,000 customers in nine states, but has its sights on a larger slice of the market. The company is gunning for a spot as a top 10 supplier, hoping to quadruple its size, according to the Baltimore Business Journal.
The Journal put the price of the recent deals at $10 million.
Unfortunately for ThompsonGas, the coming winter is shaping up to be weak one for propane usage in the South. Consumption is estimated to be down 13 percent in the region compared to last year, according to numbers from the Energy Information Administration.