Updated Nov. 24, 2025 at 3 p.m. (This update reflects a new release issued Nov. 24 that expands on the initial acquisition announcement made on Nov. 21 regarding Nashville Propane Exchange.) Blue Peak Resources, a mergers and acquisitions consulting firm, announced the sale of Florida Lift Gas, Nashville Propane Exchange and Gateway Propane Exchange to Reliable Energy Partners, a portfolio company of Soundcore Capital Partners, LP, a New York-based private equity firm.
The three companies were Joint Venture (JV) companies of American Cylinder Exchange and Rhine Family business units.
“After years of growth and dedication, we determined it was the right time to transition these companies to an organization with similar expertise in our marketplace," said Mike Gioffre, partner at American Cylinder Exchange. “Reliable Energy Partners was selected following a thorough review of numerous offers. We appreciate the commitment of our employees and customers and are confident these businesses will prosper under Reliable Energy.”
Blue Peak Resources acted as the exclusive sell-side advisor and principal negotiator in the sale of the three companies. The team conducted financial valuations, developed a comprehensive business offering package for prospective buyers and provided full support throughout negotiations to finalize the transaction.
Original story posted Nov. 21, 2025 at 9 a.m. Reliable Energy Partners (Reliable), a portfolio company of Soundcore Capital Partners, LP (Soundcore), a New York-based private equity firm, has announced its acquisition of Nashville Propane Exchange (NPE).
Based in La Vergne, Tennessee, NPE is a propane distributor, specializing in forklift cylinder exchange services for a diverse base of commercial and industrial customers. With this acquisition, Reliable further expands its footprint and builds on its strategy of pursuing growth in high-potential areas across the Northeast, Southeast, Mid-Atlantic and Midwest.
"Nashville Propane Exchange has earned the trust of both blue-chip companies and local businesses throughout the Nashville market," said Sean Daugherty, CEO of Reliable. "We are proud to welcome NPE into the Reliable family as we advance our mission to build a best-in-class propane distribution platform serving residential and commercial customers. The dedication and customer-centric approach of NPE's employees aligns perfectly with our vision, and we're excited to have them on board."
"As part of our strategic planning, we identified a number of high-potential markets and Nashville is a perfect fit," said Michael Khutorsky, senior managing director at Soundcore. "We see significant growth potential, including expanding into residential propane services, which will be complemented by executing on a robust pipeline of acquisition opportunities."
Reliable's growth strategy combines organic expansion with selective acquisitions to create a premier, multi-regional propane distribution platform. The company is committed to supporting its operating partners with capital, resources and operational expertise while preserving the brand, reputation, high-touch customer service and community focus that customers value most.
Terms of the transaction were not disclosed.
