US Propane acquires Atlanta Propane and North Carolina Propane Exchanges

US Propane, a newly launched company headquartered in Auburn, Georgia, has acquired Atlanta Propane Exchange and North Carolina Propane Exchange. Blue Peak Resources, a merger and acquisitions consulting firm, announced the deals.

Atlanta Propane Exchange and North Carolina Propane Exchange were joint venture companies of American Cylinder Exchange and Rhine Family business units.

Kendall Rhine, partner at Rhine LLC, says, “After much thought and consideration, we determined it was the right time to transition these companies to an organization committed to growth and customer service. US Propane was selected following a comprehensive review of numerous offers. We appreciate the commitment of our employees and customers and are thankful for the guidance of Blue Peak Resources through this entire process.”

Founded in 2026, US Propane is principally owned by its management team and Fort Point Capital, a Massachusetts-based private equity firm. Fort Point Capital launched US Propane intending to build an industry-leading platform to partner with locally owned and operated propane companies across the United States.

James Watson, newly appointed CEO, says, “I am thrilled to partner with Fort Point and build US Propane together. [Atlanta Propane Exchange] and [North Carolina Propane Exchange] have earned the loyalty of their customers through the commitment of their employees, and we intend to build on this foundation as an organization committed to safe and reliable customer service. With Fort Point’s support, we look forward to growing US Propane and partnering with business owners who are seeking growth, planning for succession or considering retirement, while maintaining the culture for quality service they have tirelessly built.”

Blue Peak Resources, founded by John Armentano and Michael Gioffre, is a full-service M&A consulting firm specializing in propane and fuel oil companies. The firm says it brings deep industry knowledge, transaction experience and a personalized approach.

Gioffre, partner of Blue Peak Resources, adds, “We are proud to have guided both Atlanta and North Carolina Propane Exchanges through this important milestone, delivering a successful result that recognizes the strength of the businesses built while positioning US Propane for continued success.”

Blue Peak Resources acted as the exclusive sell-side adviser and principal negotiator in the sale of the two companies. The team conducted financial valuations, developed a comprehensive business offering package for prospective buyers and provided full support throughout negotiations to finalize the transactions. The firm says it helps family-owned businesses maximize value, navigate transaction complexities and protect legacies they’ve spent generations building.

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