2018-19 merger & acquisition activity

Here’s a look at the movement LP Gas kept tabs on over the last year, with acquiring companies in bold. Note: Some companies chose not to disclose their acquired companies.

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“The decision to sell is not always easy. It takes careful consideration and consultation. Whether you have questions, would like to learn more about AmeriGas or have decided to pursue a path of becoming a part of the AmeriGas family, we are here to talk.” –AmeriGas Propane

Affordable Propane
New Comet Gas – Aurora, Colorado

AmeriGas Propane
Two acquisitions

AMETEK Inc.
Telular Corp. – Chicago

B&P Propane and Knotty Pine Oil Co.
Petree Propane – Holton, Kansas

Blossman Gas
Southern LP Gas – Bowdon, Georgia
Three other acquisitions

“The propane industry experienced an acceleration in acquisition activity during 2018. From our perspective, we see a continued trend of the large regionals leading the way. Capital is still available to buyers, and transaction multiples offered are still in a range attractive to sellers. We expect deal flow to remain strong for at least the next couple of years, and we continue to build our capabilities in anticipation.” –Cetane Associates

Buster Brown Propane
Hayes LP Gas – Langley, Oklahoma

Cole Oil & Propane
Dual Gas – Friesland, Wisconsin

Country Visions Cooperative
CO Energy Alliance – Adell, Wisconsin

Crestwood Equity Partners
Sold West Coast assets

DataOnline
Independent Technologies – Blair, Nebraska

DCC Propane
Three acquisitions

Delos Capital
Hop Energy – White Plains, New York

DiLeo Gas
Meacham Propane – Charlton, Massachusetts

“We are committed to preserving the legacy of the companies we acquire. We recognize that most owners have put years – sometimes decades – into building their businesses, and retaining their local brand and presence in their local communities is important to them. Plus, they want to be sure that both their employees and customers will continue to be well taken care of. EDP is committed to doing that – now and into the future – and that has served us well.” –Energy Distribution Partners (EDP)

Eastern Propane & Oil
Reliable Oil & Propane – Center Conway, New Hampshire

Energy Distribution Partners
Anderson Propane Services – Caldwell, Ohio
Carmichael Propane – Walterboro, South Carolina
Carolina Propane Gas Corp. – Orangeburg, South Carolina
Delta Liquid Energy’s Los Angeles-area operations
Ebbetts Pass Gas Service – Arnold, California
Jefferson Propane – Chimacum, Washington
Kitsap Propane – Kingston, Washington
Pacific Propane – Castroville, California
Sal’s Propane – Los Angeles
United Landmark (from Sunrise Cooperative) – near Lancaster, Ohio

Evergreen Propane
Pierson Propane – Georgia

Ferrellgas Partners
Co-Op Butane – Bush, Louisiana
Diamond Propane – Potsdam, New York
North Star Exchange Inc. – Walton, Indiana
Reliable Propane – Sikeston, Missouri
Salathe Gas Co. – Harvey, Louisiana
Wylie LP Gas – Lubbock, Texas

“While continuing to pursue quality independent retail propane companies, Ferrellgas also focused in the last 12 months on improving operational efficiencies by acquiring a number of former third-party distributors for its Blue Rhino tank exchange division. The company’s retail propane acquisitions during the period include Diamond Propane of Potsdam, New York, and Co-Op Butane of Bush, Louisiana.” –Ferrellgas

Fratelli Pettinaroli
Jomar Group – Warren, Michigan

Garsite Progress
Garsite – Kansas City, Kansas
Progress Tank – Kansas City, Kansas, and Fond du Lac, Wisconsin

Gibson Energy
Sold wholesale propane assets

Hexagon Composites
Agility Fuel Solutions – Costa Mesa, California

Lakes Gas Co.
Cash Gas – Elk River, Minnesota
RediGas – Watertown, Wisconsin

LT Corp. (parent company of Quality Steel)
LP Cylinder Service Inc. – Shohola, Pennsylvania

Martin Midstream Partners
Martin Transport – Kilgore, Texas

MFA Oil
Callaway Propane LLC – Fulton, Missouri
Cardie Oil Inc. – Tampa, Kansas
Frazier Oil & LP Gas Co. Inc. – Gower, Missouri
George’s Gas Co. Inc. – Arkansas
Howard Electric – MFA Propane LLC – Fayette, Missouri
Rolla Farmer’s Exchange – Rolla, Missouri

“Paraco had been serving Martin’s Oil & Gas with propane product for many years. They already know our customers’ needs and our supply demands very well, so this will be an easy and seamless transition.” -Martin’s Oil & Gas

NGL Energy Partners
Propane terminals from DCP Midstream – Denver

North Star Energy
One acquisition

Northwest Propane Gas Co.
Two acquisitions

ONEOK Inc.
West Texas LPG Pipeline Limited Partnership

Palmer Gas & Oil
Lamprey Energy – North Hampton, New Hampshire

Paraco Gas
Martin’s Oil & Gas – Uxbridge, Massachusetts

“Our motto has shaped our core operating philosophy over the years: ‘Our business is customer satisfaction.’ We have a long history of successfully acquiring high-quality propane businesses. Now more than ever, we have been very active in the M&A space, bringing together companies that fit our culture and focus on delivering the highest level of customer service in every market we serve. Having completed three acquisitions over the past 18 months, our goal is quality over quantity. Our business is well positioned to continue our tradition of being an industry leader and to pursue our next phase of growth.” Suburban Propane

Parkland Fuel Corp.
Sol Ltd. – Caribbean

PIC Investment Group
Created CanGas Propane

Pinnacle Propane LLC
One acquisition

Quarles Petroleum
Noblett’s Northern Neck Gas – Kilmarnock, Virginia
Revere Gas – Hartfield, Virginia

Ray Murray Inc.
Masda Corp. – Whippany, New Jersey

Renovo Capital LLC
Rochester Gauges LLC – Dallas

Rhoads Energy
Worley & Obetz – Manheim, Pennsylvania

Sharp Energy
The propane assets of R.F. Ohl Fuel Oil – Lehighton, Pennsylvania

Suburban Propane Partners
Three acquisitions

Superior Fuel Co.
Harbor City Oil and Propane – Duluth, Minnesota
Two other acquisitions

“Superior Plus is North America’s second-largest propane company and growing. Our acquisition goals are focused on seamless transitions for employees, strengthening the customer experience with enhanced offerings and delivering strong valuations and stress-free transactions to owners. We have successfully completed over 10 deals in the past two years, including propane companies both big and small, all across the United States.” –Superior Plus

Superior Plus Corp.
Blue Flame Gas – Powder Springs, Georgia
NGL Energy Partners’ retail propane operations – Tulsa, Oklahoma
Phelps Sungas propane distribution assets – Geneva, New York
Porco Energy Corp. – Marlboro, New York
Propane distribution assets of Musco Fuel & Propane – Wolcott, Connecticut
United Pacific Energy – Reno, Nevada

Tech Air
Scully Welding Supply and Propane Service – Collingdale, Pennsylvania

The Cavagna Group
The assets of Gas S.r.l – Sansepolcro, Italy

ThompsonGas
Automatic Gas and Appliance Co. – Sylacauga, Alabama
ER Energy – Ukiah, California
J.I. Banker Gas Service – Saint Joseph, Missouri
Mid-South Propane – Detroit, Alabama
South Alabama Gas (propane division) – Evergreen, Alabama
One other acquisition

UGI
AmeriGas publicly held common units

Wynnchurch Capital
Midland Metal – Kansas City, Missouri LPG