Wednesday, August 12, 2020
ThompsonGas LLC (Frederick, Md.) has acquired Midwestern Propane Gas Co. (Belleville, Ill.), one of the largest independent propane retailers in its region. The company serves approximately 5000 residential and commercial customers throughout Illinois and Missouri.
Midwestern Propane was established in 1936 by A.J. and Martha Urban, who opened their first retail heating fuel location in Belleville, Ill. They originally sold butane throughout the state, which at the time was a new heating and cooking fuel. During the 1930s and 1940s, as the company grew and fostered positive relationships with its customers, it eventually transitioned from selling butane to propane in the 1950s.
Darrell Urban, grandson of the original founders and third-generation owner, took over operations in 1985. Under his leadership, Midwestern Propane grew both organically and through a series of acquisitions. He and general manager Ron Brodwater completed a total of four acquisitions from 1995 to 2005. In 2014, Don Urban, Darrell’s brother and 50% partner, passed away. Darrell continued to grow the company until his passing in 2019, when his wife, Susan, became the primary shareholder. Midwestern Propane is now under the leadership of the company’s president, and former long-time general manager, Ron Brodwater.
Matrix Capital Markets Group Inc., an independent investment bank, provided merger and acquisition advisory services for Midwestern Propane Gas Co.
SOURCE: The Weekly Propane Newsletter, August 13, 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.
Midwestern Propane was established in 1936 by A.J. and Martha Urban, who opened their first retail heating fuel location in Belleville, Ill. They originally sold butane throughout the state, which at the time was a new heating and cooking fuel. During the 1930s and 1940s, as the company grew and fostered positive relationships with its customers, it eventually transitioned from selling butane to propane in the 1950s.
Darrell Urban, grandson of the original founders and third-generation owner, took over operations in 1985. Under his leadership, Midwestern Propane grew both organically and through a series of acquisitions. He and general manager Ron Brodwater completed a total of four acquisitions from 1995 to 2005. In 2014, Don Urban, Darrell’s brother and 50% partner, passed away. Darrell continued to grow the company until his passing in 2019, when his wife, Susan, became the primary shareholder. Midwestern Propane is now under the leadership of the company’s president, and former long-time general manager, Ron Brodwater.
Matrix Capital Markets Group Inc., an independent investment bank, provided merger and acquisition advisory services for Midwestern Propane Gas Co.
SOURCE: The Weekly Propane Newsletter, August 13, 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.
