DOVER, Del. — Chesapeake Utilities Corporation has entered into a merger agreement with Gatherco Inc., as of Jan. 30.

When finalized, Gatherco will become Aspire Energy of Ohio, a wholly-owned subsidiary of Chesapeake Utilities.

The transaction was approved by the Gatherco board of directors and by Chesapeake Utilities’ merger and acquisition committee. The merger, which is expected to close in the second quarter of 2015, is subject to approval by the Gatherco shareholders. Chesapeake Utilities stockholder approval of the merger is not required.

What’s included

The transaction has an aggregate value of approximately $59.2 million.

Gatherco is a natural gas infrastructure company providing natural gas midstream services. It was established in 1997 in conjunction with the acquisition of Columbia Gas Transmission’s natural gas gathering assets in Ohio.

Gatherco’s assets include 16 gathering systems and over 2,000 miles of pipelines in central and eastern Ohio.

Gatherco provides natural gas gathering services and natural gas liquid processing services to over 300 producers, and supplies natural gas to over 6,000 customers in 40 Ohio counties through the Consumers Gas Cooperative, an independent entity which Gatherco manages under an operating agreement.

The Gatherco acquisition will expand Chesapeake Utilities’ footprint beyond its Delmarva Peninsula and Florida service areas.