Latest News
Ferrellgas Acquires Two Propane Retailers in Tennessee, USA
Friday 11 August 2017

11 August 2017 - Missouri, US-based midstream services company Ferrellgas Partners, L.P. (NYSE: FGP) has acquired two Tennessee, US-based propane retailers, Lindsey Propane and Sevier County Propane, the company said.

The transaction is expected to be immediately accretive and will allow Ferrellgas to better service customers in central and eastern Tennessee regions.

Terms of the transaction were not disclosed.

A local provider in Williamsport, Tennessee, Lindsey Propane offers commercial, industrial, agricultural, and residential propane services to customers in nine middle Tennessee counties.

For more than 20 years, Lindsey has been known for its commitment to providing world class service and clean-burning propane at competitive prices.

Based in Sevierville, Tennessee, Sevier County Propane has serviced customers in the Knoxville and eastern Tennessee regions for more than 25 years.

With a dedication to customer relationships, the team at Sevier prides itself in going above and beyond to meet their customers' needs in Sevier, Knox, and Jefferson counties.

The acquisitions are the most recent of nearly 240 acquisitions in the more than 75-year history of Ferrellgas.

By strategically acquiring new businesses, the company has grown its footprint from a single location to a nationwide network and is now one of the leading propane retailers in the United States.

Ferrellgas Partners, through its operating partnership, Ferrellgas, L.P., and subsidiaries, serves propane customers in all 50 states, the District of Columbia, and Puerto Rico, and provides midstream services to major energy companies in the United States. 

The company employees indirectly own 22.8m common units of the partnership, through an employee stock ownership plan. 
Details
Date Published: 11/08/2017
Target: Lindsey Propane and Sevier County Propane
Country: USA
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Ferrellgas Partners
Comment:
Terms of the deal were not disclosed

Options