Energy Distribution Partners acquires High Grade Gas Service

November 28, 2022 By    

Energy Distribution Partners (EDP) purchased High Grade Gas Service, based in Stafford Springs, Connecticut.

The acquisition marks EDP’s first operation in the state, expanding its presence in the Northeast.

Established in 1957, High Grade Gas Service has been owned by the Aiken family for 65 years. The company was founded as a 100-pound cylinder exchange provider and has evolved into a full-service propane company that provides cylinder exchange, bulk deliveries and service options. Nelson Aiken, a second-generation family member, and his wife, Correen, have been at the helm of the company for the past 40 years.

The company delivers over 3.5 million gallons annually to more than 7,600 customers across Connecticut, southern Massachusetts and eastern Rhode Island.

All employees of High Grade Gas Service will remain with the company, including third-generation family members Chelsea Aiken and Ryan Aiken. Chelsea Aiken, who has been recognized as an LP Gas Rising Leader, has been named general manager. Ryan Aiken will stay on as a driver and service technician.

“High Grade Gas Service has an excellent reputation across its service area,” says Thomas Knauff, president and CEO of EDP. “It’s an honor to have a high-quality, third-generation business choose EDP to continue its legacy. We couldn’t be more pleased that Nelson Aiken and his family selected EDP when they decided to transition their company, and we’re delighted to have Chelsea managing the business post-closing.”

Blue Peak Resources, a full-service consulting firm specializing in propane gas and fuel oil mergers and acquisitions, was the sell-side adviser representing High Grade Gas Service.

“Working with the Blue Peak team has been a pleasure,” Nelson Aiken says. “They were able to find the right buyer in EDP and help us navigate the complex waters of selling our business. I wasn’t sure what to expect when I started thinking of selling my business. Making sure our employees and customers would be in good hands was our top priority. I am very pleased with how everything worked out.”

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