JP Energy Partners LP completes the acquisition of Georgetown Propane
JP Energy Partners LP completes the acquisition of Georgetown Propane.
IRVING, Texas — JP Energy Partners is pleased to announce that on June 28, 2011 the partnership completed the acquisition of Georgetown Propane in Georgetown, Texas, just north of Austin. This represents the fifth acquisition in the propane industry within the past 12 months by JP Energy Partners and an additional commitment to the central Texas propane market.
“the largest retail propane marketers in the United States”
“Georgeown Propane is a great addition to the JP Energy Partners operations. It representseverything we are looking for in our acquisition process, well run operations with employees and management who have had proven success in their market,” said Robert Chalmers, SVP Corporate Development for JP Energy Partners. Chalmers goes on to say, “We will continue and enhance the safety and customer service that the customers of Georgetown Propane have become accustomed to.” Georgetown Propane currently provides propane to over 2,900 customers in central Texas.
The acquisition of Georgetown Propane represents a continued commitment to becoming a regional leader in the propane industry forJP Energy Partners. Since July of 2010, JP Energy Partners has acquired or opened retail propane operations in Central and South Texas, West Texas, New Mexico and Oklahoma. Now servicing more than 15,000 customers in these states, JP Energy Partners looks to continue to expand on its regional footprint and bring innovative ideas to the propane industry. The addition of Georgetown Propane to the existing operations of JP Energy Partners will result in annual sales of more than 20 million gallons of propane.
Georgetown Propane will immediately begin operations using the name Pinnacle Propane. JP Energy Partners owns retail operations under the name Pinnacle Propane in the San Antonio, Austin and Harlingen areas, as well as community propane systems under the name Alliant Gas LLC throughout the Texas Hill Country. In West Texas, New Mexico and Oklahoma, they operate under the names Wylie LP Gas and Pinnacle Propane Direct.
JP Energy Partners LP is an Irving, TX based Master Limited Partnership that was formed in 2010 to pursue opportunities in the retail propane industry. Since then, JP Energy Partners has moved into the top 25 of “the largest retail propane marketers in the United States” as published by LP Gas Magazine. The ownership and management team of JP Energy Partners brings extensive experience and a history of success in the energy business and the real estate development business.
Posted: July 11, 2011