Shipley Energy on Friday announced its second acquisition of the year, adding a Montgomery County heating oil company to its ranks.
York-based Shipley purchased Jay Gress Inc., an energy provider in Conshohocken, for an undisclosed amount.
Shipley already sells natural gas and electricity in Montgomery, Delaware and Bucks counties, and will now be able to market more products in the area, according to spokesman Bob Astor.
"The opportunity to acquire a family-owned, heating oil company with the great reputation of Jay Gress helps us better establish our brand in this market," he said.
Jay Gress, an 81-year-old company, also provides heating and air conditioning and has a fuel division that are included in the purchase agreement with Shipley.
"A transaction of this magnitude is very positive for both companies," CEO William Shipley III said in a press release. "As we seek expansion opportunities, we identify organizations that are committed to the highest standards of customer service. And with Jay Gress, we expect to continue their legacy of providing quality product offerings, while growing our presence significantly in the Philadelphia region."
The acquisition will also give Shipley, a family-owned energy provider established in 1929, another member of Pacific Pride — one of the largest and commercial-card fueling networks in the U.S. and Canada.
In March, Shipley acquired York Oil Service Co. Inc., which was also a member of the Pacific Pride network.
—Reach Candy Woodall at email@example.com.