York-based Shipley Energy will expand its transportation team by purchasing the operating assets of a Montgomery County bulk petroleum trucking company.
Shipley said its deal with Gleba Inc. will add “several well-maintained pieces of equipment” and seven full-time drivers. The transaction price was not disclosed.
Steve Passio, Shipley’s president of energy services, called Gleba “an impressive organization,” praising its “proud team of professional drivers.”
Owned and operated by Chet Gleba, the King of Prussia company is a regional bulk carrier that primarily transports ethanol. Founded in 1981, Gleba serves producers and refiners from terminals in Northumberland and King of Prussia.
“Our goal is to grow the total volume of gallons by 30 percent that this group moved across the state last year,” Passio said. “The growth in this segment of the energy market is significant and by adding a professional driving team and equipment for this purpose, augments our ability to better serve our customers.”
Shipley, which traces its roots to 1929, is a privately owned energy firm supplying both commercial and residential electricity, natural gas, propane, heating oil and heating and cooling service throughout Pennsylvania and Maryland, company officials said. It employs 452 people.
“I’m very proud to join forces with a company like Shipley Energy. It just makes good business sense to make the move now and grow with a proven leader while market conditions are very favorable,” Gleba said. “There’s no doubt in my mind that our team will be in good hands with Shipley’s reputation as a well run, formidable operation.”
Hauling from ethanol producers to terminals and transferring the fuel between terminals fits with Shipley’s core business strategy, the company added.
Shipley recently made headlines for converting seven of its service vans to propane power.