Reliable Energy Partners (Reliable), is pleased to announce its acquisition of Nashville Propane Exchange (NPE).
With this acquisition, Reliable further expands its footprint and builds on its strategy of pursuing growth in high-potential MSAs 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. 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," said Sean Daugherty, CEO of Reliable.
"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.
