DOVER, DE, Jan. 6, 2004 -- William C. Boyles, President of Chesapeake Utilities Corporation's Water Business Unit, announced that the company has sold substantially all of the assets of Sam Shannahan Well Co., Inc., with locations in Salisbury, MD and Dover, DE, to D.J. and Cindy Shannahan, son and daughter-in-law of the former owner.
The sale is a result of Chesapeake's commitment to address the challenges of its water services business. Chesapeake purchased Sam Shannahan Well Co., Inc., in March of 1998.
The Tullius Company, a merchant-banking firm located in Portland, Oregon, and specializing in the water treatment and bottled water industries, acted as the exclusive financial advisor to Chesapeake.
"Sharp Water is a nationally recognized, award winning water treatment and conditioning EcoWater Dealership that has been serving the area for more than 30 years," Boyles said. "The dealership will continue to serve residents of the Delmarva Peninsula in Delaware, Maryland and Virginia, as well as southern New Castle County, DE and Cecil County, MD," he added.
Sharp Water's range of services include drinking water systems; water softeners, filters and refiners; whole house systems; nitrate removal systems; metered water service; exchange tank service; salt delivery; deionized tank service; certified water plant operation; as well as expert service on most makes and models of water treatment equipment.
"Our customers will continue to receive first-rate customer service and excellent quality water treatment products and services," said Shannahan. "We are proud to continue as an EcoWater dealership." EcoWater Systems, based in St. Paul, MN, is the world's oldest and largest manufacturer of water treatment and conditioning equipment in the world. Sharp Water will continue to provide free water analysis and a full range of water solutions. Sharp Water can be contacted toll free at 800.439.3853, or on the web at www.sharpwater.com.
Chesapeake Utilities Corporation is a diversified utility company engaged in natural gas distribution and transmission, propane distribution and wholesale marketing, advanced information services and other related businesses. Information about Chesapeake Utilities Corporation and the Chesapeake family of businesses is available online at www.chpk.com.
