PPC Agrees to Sell EDP to Platinum Equity

Chicago (Oct. 28, 2026) — PPC agrees to sell EDP to Platinum Equity under a definitive agreement. PPC is a family-oriented investment firm that partners with family-, founder- and management-owned businesses, while EDP is a leading provider of propane distribution services.

Founded in 2012 by Tom Knauff, a 40-year veteran of the industry, EDP provides safe, reliable propane services to more than 200,000 residential, commercial, industrial and agricultural customers across 24 states. The company has been built through the strategic acquisition of 45 market-leading operators while preserving their local brands and leadership teams. PPC invested in EDP in 2020 alongside the founders, existing family office investors and management. Since then, EDP has more than tripled EBITDA through organic growth and strategic acquisition.

“In 2020, we sought a partner that would honor the company’s legacy and culture while helping us expand our team, transition leadership and pursue accelerated growth,” said Tom Knauff, founder and executive chairman of EDP. “We are fortunate to have found partners who embraced our vision and gave us the support to grow, and all of us at EDP are grateful for the partnership of PPC, Concentric Equity Partners and our other shareholders.”

“PPC has been a valuable partner through a period of rapid growth, bringing a deep understanding of founder-led businesses and strong financial and operational support,” said Kevin Pollack, chief executive officer of EDP. “Their respect for our culture and our team allowed us to expand without compromising our commitment to our employees, customers and the local communities we serve.”

“We are proud to have supported Tom and the EDP leadership team over the past six years as they expanded their operational footprint and transitioned day-to-day leadership to the next generation,” said Eric Kieras, investment partner at PPC. “EDP is a terrific business, and we are confident the company is well positioned for continued success with its new partners.”

The EDP transaction reflects PPC’s approach of family direct investing, which pairs a like-minded capital base of families and other long-term investors with investing and operating expertise. This approach aligns PPC with management teams around building enduring businesses and creating long-term value.

Terms of the transaction were not disclosed. The transaction is expected to close in November 2026, subject to customary closing conditions.

Solomon Partners acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to EDP.