Reliable Energy Partners acquires Economy Propane

Reliable Energy Partners, a new growth platform targeting residential and commercial propane customers, entered the mid-Atlantic region by acquiring Economy Propane.

Economy Propane is a bulk propane distributor headquartered in Baltimore. With the acquisition, Reliable Energy Partners extends its operational footprint to four states and strengthens its strategy of driving growth in metropolitan areas across the Northeast, Southeast, mid-Atlantic and Midwest regions, according to the company.

Reliable Energy Partners launched in November with the acquisition of Florida Lift Gas, Nashville Propane Exchange in Tennessee and Gateway Propane in Missouri. The company is backed by New York-based private equity firm Soundcore Capital Partners.

“Economy has a well-deserved reputation for delivering bulk propane safely and efficiently,” says Sean Daugherty, CEO of Reliable Energy Partners. “By bringing Economy into the Reliable family, we’re not just growing – we’re diversifying strategically.

“This marks our entrance into the bulk propane business and opens a new avenue to serve commercial and residential customers in an important region,” he adds. “We look forward to working with Josh McKnew to uphold and expand on the legacy cultivated by owners Doug McKnew and Bobby Perry.”

Michael Khutorsky, senior managing director at Soundcore Capital Partners, says the acquisition of Economy Propane complements its previous cylinder exchange acquisitions and positions Reliable Energy Partners for growth across residential, commercial and industrial end markets.

Reliable’s growth strategy combines organic expansion with selective acquisitions to create a multi-regional propane distribution platform, according to the company.

Terms of the transaction were not disclosed.

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