Toronto-Based Superior Plus Buys United Liquid Gas Co.

(October 8, 2018) — Superior Plus Corp. (Toronto) has acquired all the issued and outstanding shares of United Liquid Gas Co. (UPE; Reno, Nev.), which operates under the trade name United Pacific Energy. United Pacific Energy is an independent wholesale propane and butane distributor in California. The acquisition will be funded by drawing upon Superior Plus Corp.’s credit facility and is anticipated to close this quarter.

United Pacific Energy operates four rail terminals with about 2.6 MM/gal. of natural gas liquids storage capacity. The company serves more than 115 wholesale customers, which include retail distribution firms, primarily in the California market. “The acquisition of UPE is consistent with our Evolution 2020 objective to expand the wholesale propane business through opportunistic acquisitions across North America and demonstrates our commitment to further expand our wholesale propane marketing presence in the U.S.,” said Luc Desjardins, Superior Plus president and CEO. “The acquisition of UPE is our fifth acquisition in 2018 and fourth tuck-in acquisition.”

“UPE is a well-run business with over 20 years serving propane customers in the California marketplace,” added Shawn Vammen, senior vice president of Superior’s supply portfolio management business. “This acquisition adds significant volume to our portfolio, diversifies our customer and geographical base, and includes an attractive group of assets with a coastal presence that is integral in our continued expansion of the wholesale business along the western coast of the U.S.”

(SOURCE: The Weekly Propane Newsletter, October 8, 2018)