Acquiring Company
Chesapeake Utilities
Acquired Company
Planet Found
Description
Chesapeake Utilities Corporation (NYSE: CPK) announced today that it purchased 100% of the membership interest of Planet Found Energy Development, LLC (PFED) for $9.4 million. PFED is a Maryland-based entity formed by Delmarva-based scientists, farmers and business people dedicated to developing poultry litter management technologies. This acquisition aligns with the Company's renewable energy investment objectives including:
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed