Fort Point Capital Launches US Propane

Boston (Nov. 10, 2026) — Fort Point Capital, a Boston-based private equity firm, announced the launch of US Propane, a growth-oriented propane distribution platform. Located in Auburn, Georgia, US Propane was formed with the purpose of building a platform to partner with locally owned and operated propane companies across the United States.

In connection with the platform’s launch, US Propane announced the simultaneous acquisitions of Atlanta Propane Exchange (APE) and North Carolina Propane Exchange (NCPE), propane distributors specializing in providing forklift cylinder exchange services in Georgia and North Carolina, respectively.

Leadership at US Propane

James Watson has been appointed chief executive officer for the distribution platform. Watson brings over 30 years of propane industry experience, having started as a service manager for a locally owned propane business and progressing to senior leadership positions across local and regional operations, sales and strategy at a few of the largest propane companies in the country. In addition to his operational expertise in growing businesses organically, Watson has a demonstrated track record of sourcing, acquiring and integrating local propane companies serving commercial and residential customers.

“We are excited to partner with James, alongside US Propane, APE and NCPE management teams to build on the legacy of two well-established propane distribution companies with a strong reputation for safe, reliable service,” said Paul Lipson, partner at Fort Point Capital. “Propane is an essential energy source for the customers APE and NCPE serve, and the businesses’ dedicated employees and longstanding customer relationships across Georgia and North Carolina provide an excellent foundation for US Propane.”

“I am thrilled to partner with Fort Point and build US Propane together,” said James Watson. “APE and NCPE 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.”