Energy Distribution Partners Completes Successful Recapitalization
Jordan Knauff & Company (JKC) is pleased to announce that Energy Distribution Partners (EDP or the Company), one of the leading distributors of propane and light fuels in North America, has completed a successful recapitalization. Pritzker Private Capital and Duchossois Capital Management invested in the Company alongside Concentric Equity Partners and EDP’s management team, who will continue to lead the business. Financial terms were not disclosed.
Based in Chicago, Illinois, EDP is a growing company with deep experience in retail propane operations. The company operates 26 regional branch locations spanning 10 states across the United States. The company serves more than 120,000 residential, commercial, industrial and agricultural customers through a diverse network of service centers.
JKC was a co-founder of the Company, along with Driehaus Private Equity and Elias P. Boufis, and has served as EDP’s investment banker since its formation in 2012, when JKC raised the initial seed capital and developed the business plan for the Company. Since that time, in support of EDP’s business plan, JKC has served at various times as financial adviser to the Company and directed capital raises of more than $70 million in debt and equity capital, as well as advising EDP on its first six acquisitions.
Mr. Thomas E. Knauff, Chief Executive Officer of EDP, said of the recapitalization “This is the ideal long-term partnership to guide EDP into our next chapter.” The company has successfully grown through the acquisition of locally-managed market leaders and plans to continue to expand and diversify through the addition of new retail propane and midstream operations.
The Company has become a significant player in the propane industry, recently recognized as one of the top ten independent multi-state marketers, selling more than 100 million gallons of propane and light fuels in 2019. Since its founding in 2012, EDP has completed 26 acquisitions and has built its reputation as a creative, flexible and responsive buyer of retail propane distribution operating assets. EDP is well positioned to continue its strategy of profitable growth.
Propane is a safe, cost-efficient fuel that has been part of America’s energy mix for more than a century. The United States is the leading producer of propane and more than 145,000 workers are employed in the industry, which contributes $40 billion annually to the economy. Millions of U.S. households rely on propane for home and water heating, cooking and clothes drying. In addition, more and more manufacturing and distribution businesses are turning to propane to fuel their vehicles and forklifts.
About Jordan Knauff & Company
Jordan Knauff & Company is a knowledgeable and experienced provider of a comprehensive line of investment banking services to private companies. Our services include selling companies, raising debt and equity capital, acquisition advisory services, and strategic business services to companies in a variety of industries, including among others, business services, energy logistics and distribution, flow control (pumps, valves, filtration), and building products and services. Typical transaction sizes range from $10 million to $300 million in total consideration.
Mr. G. Cook Jordan, Jr., Co-founder and Managing Principal, has over 30 years of private equity and investment banking experience, and seven years of executive and operations experience in middle-market companies. JKC’s entire professional team have spent their careers in the middle-market and offer that expertise and knowledge to their clients. It is their mission to provide the best transaction advisory services along with in-depth industry specific research to middle-market companies and the entrepreneurs who lead them. JKC is a member of FINRA. For more information on JKC, please visit www.jordanknauff.com.
About Pritzker Private Capital
Pritzker Private Capital partners with middle-market companies based in North America with leading positions in the manufactured products, services, and health care sectors. The firm’s differentiated, long-duration capital base allows for efficient decision-making, broad flexibility with transaction structure and investment horizon, and alignment with all stakeholders. Pritzker Private Capital builds businesses for the long term and is an ideal family capital partner for entrepreneur- and family-owned companies. Pritzker Private Capital is a signatory to the United Nations Principles for Responsible Investment (PRI). For more information, visit www.PPCPartners.com.
About Concentric Equity Partners
Concentric Equity Partners (CEP) is a private investment firm based in Chicago, Illinois. The firm partners with leading middle-market companies by providing capital and strategic advisory to accelerate long term value creation. CEP’s approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. CEP’s investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle-market companies. CEP is the direct investing arm of Financial Investments Corporation, a private asset management firm with over $2 billion in investment commitments under management. For more information, visit www.ficcep.com.
About Duchossois Capital Management
Duchossois Capital Management is a private investment firm owned by the Duchossois family. The firm’s operational expertise, industry knowledge and permanent source of capital creates long-term value alongside management teams and other investment partners. DCM brings additional capabilities through its extensive executive relationships, creative investment structures and expansive operating resources to a wide array of asset classes including private and public companies, private investment funds and real estate. For more information, visit www.dcmllc.com.