Energy Distribution Partners (EDP) has announced the acquisition of Liberty Propane and Meadows Petroleum.
Operating out of Ottsville, Pennsylvania, and Georgetown, Delaware, Liberty Propane and Meadows Petroleum provide propane, fuel oil and heating, ventilation and air conditioning (HVAC) service to customers across the states of Pennsylvania, New Jersey, Delaware, Maryland and Virginia.
Liberty Propane (Liberty LP Gas Inc.) was owned by Kevin Meadows and Matt McGuigan while Meadows also owned Meadows Petroleum (Meadows Petroleum Products Inc.). Both Meadows and McGuigan are longtime, active members of the propane and fuel oil industries.
“We are very pleased to welcome Liberty Propane and Meadows Petroleum into the EDP family,” said Thomas Knauff, EDP’s president and CEO. “Their employees are recognized for taking excellent care of their customers while having deep roots in their local communities.”
He added, “In addition, we are eager to have all employees – including Kevin and Matt in addition to their management team – transition to EDP.”
Meadows commented, “Matt and I are confident EDP is the right propane retailer to take good care of our employees while providing safe, reliable service to our customers. There’s no question we’ve made the right choice.”
EDP is actively seeking to expand its national footprint and diversify through the addition of new retail propane and midstream operations.
Cetane Associates LLC served as the sole arranger and financial advisor to Liberty Propane and Meadows Petroleum. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in the negotiation of final deal terms, and coordination of the due diligence process. The transaction was managed by team members Doug Woosnam, Joshua Wolf, Fred Lord, and Barrett Conway.
