Investor Recapitalizes Energy Distribution Partners (EDP)

Pritzker Private Capital (PPC; Chicago), a leader in family direct investing, announced Oct. 6 the completion of a successful recapitalization of Energy Distribution Partners (EDP), one of the leading distributors of propane and light fuels in North America. Pritzker Private Capital has invested alongside Concentric Equity Partners and Duchossois Capital Management, in partnership with EDP’s management team, who will continue to lead the business. Financial terms were not disclosed.

Headquartered in Chicago, EDP operates 26 regional branch locations spanning 10 states across the U.S. The company serves more than 120,000 residential, commercial, industrial, and agricultural customers through a diverse network of service centers. EDP was founded in 2012 by Thomas Knauff, an industry veteran with a track record of founding and building energy distribution companies. The company has successfully grown through acquisitions of locally-managed market leaders and plans to continue to expand and diversify through the addition of new retail propane and midstream operations.

“EDP is a recognized leader in the propane distribution industry with multiple avenues for continued growth and a terrific leadership team,” said Ryan Roberts, investment partner services at PPC. “We are delighted to partner with EDP’s management team to support the continued expansion of the company’s national footprint and build on its proven track record of success.”

“Since our founding, EDP has cultivated a culture committed to delivering outstanding quality and service across all of the local markets in which we operate,” said Thomas Knauff, CEO of EDP. “Our collaboration with PPC, Concentric, and Duchossois will advance our growth strategy as we build upon the exceptional standard of quality, service, and safety for which EDP is known. This is the ideal long-term partnership to guide EDP into our next chapter.”

Paul Carbone, president and managing partner at PPC, said, “We are pleased to collaborate on this opportunity with two highly respected Chicago-based family investors. Together, in partnership with the EDP team, we look forward to continuing to build a market-leading business and achieving long-term success.”

Ken Hooten, partner at Concentric Equity Partners, commented, “On behalf of Concentric, and our primary investor, the Steans family, we’re delighted to join Pritzker Private Capital and Duchossois Capital Management, two like-minded family investment firms, to support a strong, growth-focused business like EDP. We believe this partnership will benefit EDP’s team, customers, and all of the company’s stakeholders.”

The investment in EDP enhances Pritzker Private Capital’s family of services companies, which includes ENTACT, a leading environmental remediation and geotechnical construction services company; and Valicor Environmental Services, one of North America’s largest providers of non-hazardous wastewater treatment services.

SOURCE: The Weekly Propane Newsletter, October 15, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.