Written on: August 13, 2020 by ICM
ThompsonGas LLC recently acquired the propane distribution business of Midwestern Propane Gas Co., an independent propane retailer that serves approximately 5,000 residential and commercial customers in Illinois and Missouri, according to reports. Terms of the deal were not revealed.
Midwestern Propane Gas Co. was established in 1936 as a butane distributor and eventually transitioned to propane in the 1950s. It survived through three generations of the family until grandson Darrell Urban’s death in 2019. Since then, his wife Susan Urban became the primary shareholder, which was and is being led by the company’s President (and former long-time GM), Ron Brodwater.
Matrix Capital Markets Group Inc. provided M&A advisory services to Midwestern Propane.
In other news, Symank Brothers has purchased Cuero-Yoakum Propane in Cuero, TX, according to the Cuero Record. Terms of the deal were not disclosed.
Aaron and Addison Symank’s father owned a propane business in the Dallas area while growing up. The brothers felt Cuero-Yoakum Propane and the surrounding area had the welcoming, family feel they were looking for after searching for a business for three years.
Sources:
https://www.cuerorecord.com/lifestyle/symank-brothers-take-over-cuero-yoakum-propane
https://cstoredecisions.com/2020/08/11/thompsongas-acquires-midwestern-propane-gas-co/
