EDP acquires D&D Gas Co.

EDP acquired D&D Gas Co., headquartered in Jacksonville, Florida.

This latest transaction expands EDP’s footprint into Florida, making it the 24th state in which the company serves customers.

D&D Gas Co. was established in the 1970s by Jack Curran. His daughter and son-in-law later took over operations and ran the company until 2003 when it was purchased by Melvin Luciano and Lewis Spradlin. The two business partners have managed and significantly expanded the business over the last 21 years. The company primarily serves residential customers throughout the greater Jacksonville area.

“When we decided it was time for us to transition the business, we wanted to make certain our employees would be well cared for, and our customers would continue to receive safe, friendly and reliable service,” Spradlin says. “We realized EDP was the company we could count on to make that happen. All our employees have now become EDP team members, and we look forward to seeing D&D Gas Co. continue to thrive in the years ahead.”

Thomas Knauff, EDP’s chairman, adds, “We are very pleased that Melvin and Lewis chose EDP when it came time for them to step away from the business. D&D Gas Co. has a great reputation, and we are happy to have this company be the first of our operations in the state of Florida.”

D&D Gas Co. was represented by Blue Peak Resources, a consulting firm specializing in propane and fuel oil mergers and acquisitions.

“Having the opportunity to represent Lewis and Melvin was a privilege,” says John Armentano, partner of Blue Peak Resources. “They ran a first-class business that put their customers and employees first. I’m excited that they can move on to the next chapter of their lives knowing they are selling to a quality company like EDP.”

Blue Peak Resources served as the facilitator and negotiator of the sale. The team provided the financial valuations, prepared the business offering package to potential buyers and assisted in the negotiations and final deal terms.

Featured homepage image: designer491/iStock / Getty Images Plus/Getty Images

Read more about EDP:

• Why it’s important to invest in your employees
• EDP adds industry veteran as new director of supply

Read more mergers and acquisitions news:

• EDP acquires Sullivan Oil & Propane
• EDP acquires Green Propane and Summit Propane
• Combined Energy Services acquires Freedom Propane