Written on: April 25, 2022 by ICM
Energy Distribution Partners, Chicago, Ill. has acquired the multi-state, full-service energy businesses Liberty LP Gas Inc. and Liberty Community Gas, LLC (together doing business as Liberty Propane), and the full-service heating oil business Meadows Petroleum Products, Inc. (Meadows Petroleum) whose combined operation hubs are located in Ottsville, PA., Downingtown, PA, and Georgetown, DE. The transaction closed on April 13, 2022.
Liberty Propane, founded in 2002 by partners Kevin Meadows and Matt McGuigan, is a well-established, full-service energy provider that sells and delivers propane and other related products and services to a customer mix of residential, commercial, metered systems, and fill station accounts located throughout southeastern Pennsylvania, Delaware, Maryland and New Jersey.
Meadows Petroleum, founded in 1991 by Kevin Meadows, operates solely out of the Ottsville, PA facility. Meadows Petroleum Is a traditional full-service heating oil business serving customers in Pennsylvania.
Energy Distribution Partners (EDP) is a leading propane distribution company with deep experience in retail and commercial propane sales, operations, and finance. They provide safe, reliable propane service to residential, commercial, industrial, and agricultural customers from New York to California. EDP services more than 180,000 customers in 15 states in rural as well as major metropolitan areas.
Liberty Propane co-owners Kevin Meadows and Matt McGuigan joined forces in the early 2000s to focus on developing relationships with national and local residential, commercial, and industrial builders. Their strategies were successful and led to Liberty Propane being known as “The Builders’ Choice.”
“We’ve spent 20 years assembling a really talented team and a novel business model,” said Matt McGuigan. “EDP is the ideal, forward-looking company to take Liberty Propane to the next level. We are happy for our employees who will have a great workplace with a growing company.”
“Liberty Propane presented us with an opportunity to expand our mid-Atlantic footprint in a significant way,” said David Stroupe, EVP of Corporate Development at EDP. “The acquisition provides EDP a well-developed set of brands and an asset base managed by an extremely capable operating team. The partners Kevin and Matt have done an exceptional job in building the business, and we really appreciate the trust they have placed in us to carry on their legacy.”
Cetane Associates LLC, Kent, CT, served as the sole arranger and financial advisor to Liberty Propane and Meadows Petroleum.