EDP purchases Van Unen Miersma Propane

Energy Distribution Partners (EDP) acquired Van Unen Miersma Propane (VMP), which does business as Sierra Propane in some markets, and its affiliate Windmill Propane. Matrix Capital Markets Group provided merger and acquisition advisory services to the seller.

VMP serves more than 11,000 agricultural, commercial and residential customers in 15 counties throughout California. It was founded in 1993 by Rick Van Unen, Marion Miersma and Jeff Van Groningen. In 2000, the company acquired Sierra Propane, a small, independent propane distributor adjacent to VMP’s marketing territory. The founders continued to grow VMP and Sierra Propane through the early 2000s and, in 2006, expanded farther south within the Central Valley of California. At that time, VMP incorporated Windmill Propane and acquired Hurts Propane.

“We are extremely pleased that the owners of VMP, Sierra Propane and Windmill Propane chose EDP when it came time to transition their companies,” says Tom Knauff, CEO of EDP. “They are respected operators with a reputation for safety and superior customer service. We welcome all of their employees to EDP and look forward to continuing to provide exceptional service to their customers.”

Rick Van Unen adds, “When we made the difficult decision to sell our business, we were committed to finding a company who would continue our commitment to our employees, customers and community. We believe that EDP is the right choice to continue this legacy.”

Matrix’s advisory services included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the sale. The transaction was managed by Spencer Cavalier, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; Sean Dooley, managing director; and Nate Wah, associate.

Tammera Diehm, Noreen Sedgeman and Michelle Fitch of Winthrop & Weinstine served as legal counsel for VMP and Windmill Propane.

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