Energy Distribution Partners Continues Growth and Acquisitions
Energy Distribution Partners (EDP or the Company) is a rapidly-growing company in America’s fast-changing energy landscape – with deep experience in retail and commercial propane sales, operations and finance. The Company provides safe, reliable propane service to residential and commercial customers in California, Washington, Minnesota, Wisconsin, Michigan, Ohio, West Virginia, South Carolina, Pennsylvania and New York.
EDP’s business plan involves acquiring, integrating and operating businesses in the energy midstream and downstream sectors in which the management team has expertise. The Company maintains an intense focus on retail propane, natural gas liquids (NGL) and other refined fuels. EDP’s primary target range includes local, family-owned businesses as well as larger, regional enterprises with $100+ million valuations. Management’s strategy is to acquire successful operations, retain the brand identity, and oversee the integration in collaboration with retained management.
Since its founding in 2012, EDP has completed 26 acquisitions and has built their reputation as a creative, flexible and responsive buyer of retail propane distribution operating assets. As shown below, the Company’s most recent acquisitions have added more than 18,500 customers to their service areas.
- November — Ehrhart Energy, established in 1949, serves propane and light oils customers in and around Trumansburg, New York, with a satellite operation in Ithaca. The operation serves nearly 7,000 customers in eight New York counties.
- August — Kent Oil & Propane serves more than 3,500 propane and petroleum light oils customers in four central Michigan counties. The company also owns a Pacific Pride operation that sells both diesel and gasoline through an onsite cardlock system.
- July — Fallbrook Propane is a well-respected propane supplier that serves more than 8,000 customers. Although the customer base is primarily residential, Fallbrook Propane also serves multiple casinos as well as other commercial businesses and agricultural operations. The operating territory includes all of San Diego County and the southeastern portion of Riverside County in California.
Although Jordan Knauff & Company (JKC) was not involved in the above transactions, JKC 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 as financial adviser to the Company in the raising of $75 million in equity capital and $100 million in debt capital, as well as advising them on six acquisitions.
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, energy logistics and distribution, flow control (pumps, valves, filtration), and building products and services. Typical transaction sizes range from $10 million to $650 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.