Propane Market Metrics: A decade of propane deals

Commentary: It’s hard to find a clear trend from the deals made in the propane industry over the past 10 years, as it averaged 43 during that time.

The two years following the COVID-19 pandemic of 2020 proved active and above average. What also stands out are the 54 deals that LP Gas reported in 2018. A look back at that year shows several notable acquisitions.

NGL Energy Partners exited the retail propane industry completely after selling its remaining retail propane business to Superior Plus for $900 million. (It sold the other portion to DCC for $200 million in 2017.)

Superior Plus acquired propane supplier United Pacific Energy in California, gaining 115 wholesale customers, and sizeable retailer Porco Energy, gaining 5.7 million gallons, in New York.

MFA Oil was busy making seven deals in 2018, while Ferrellgas appeared in LP Gas several times throughout the year.

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