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ThompsonGas acquires Midwestern Propane Gas

August 17, 2020 By    

ThompsonGas, headquartered in Frederick, Maryland, acquired Midwestern Propane Gas, a propane retailer in southern Illinois.

Midwestern Propane served about 5,000 residential, commercial and agricultural customers throughout Illinois and Missouri for more than 80 years.

“Midwestern Propane has the values and core beliefs that we look for in companies to join the
ThompsonGas family,” says Jim Davis, COO of ThompsonGas. “Their dedication to providing great customer service while putting their employees first set the tone for a well-balanced business. We are excited to continue the legacy of Midwestern Propane.”

The acquisition strengthens ThompsonGas’ national footprint by expanding its presence in the Midwest, the company says. It is ThompsonGas’ fifth acquisition in 2020. It most recently acquired the propane operations of Redwood Coast Fuels in northwestern California.

“We are extremely pleased to announce the acquisition of Midwestern Propane to the ThompsonGas family,” says Jeff Kerns, CEO of ThompsonGas. “With the addition of Midwestern Propane, we will be able to expand our footprint throughout the southern Illinois and eastern Missouri borders.”

Matrix Capital Markets Group advised Midwestern Propane on the sale of its propane distribution business.

Its advisory services to the company 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 Group; Sean Dooley, director; and John Mickelinc, senior analyst.

Matthew Schneider, Derek Moore and Robert Leible of Husch Blackwell served as legal counsel for the retailer.

“To advise on the sale of an 80-plus-year-old company that has been in the family for three generations was truly an honor,” Dooley says.

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

About the Author:

Carly Bemer (McFadden) is the managing editor at LP Gas magazine. She can be reached at 216-363-3930 or cbemer@northcoastmedia.net.

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