EDP Acquires High Grade Gas Service
Energy Distribution Partners (EDP) announced the acquisition of High Grade Gas Service, which is headquartered in Stafford Springs, Connecticut. This transaction marks EDP’s first operation in the state, further expanding the company’s footprint into the Northeast.
A third-generation family-run business, High Grade Gas Service was founded in 1957 and has been owned by the Aiken family its entire 65 years. The company was founded as a 100-lb. cylinder exchange provider and has evolved into a full-service propane company that provides both cylinder exchange and bulk deliveries, along with a full array of service options.
The company delivers over 3.5 million gallons annually to more than 7,600 customers across Connecticut, southern Massachusetts and eastern Rhode Island.
All High Grade employees will remain with the company including third-generation family members Chelsea Aiken and Ryan Aiken. Chelsea Aiken, who has been recognized as a Rising Leader in the propane industry, has been named General Manager.
“High Grade Gas Service has an excellent reputation across its service area,” said Thomas Knauff, EDP’s President and CEO. “It’s an honor to have a high-quality, third-generation business choose EDP to continue its legacy. We couldn’t be more pleased that Nelson Aiken and his family selected EDP when they decided to transition their company, and we’re delighted to have Chelsea managing the business post-closing.”
Nelson Aiken, who has led the company in recent years, commented, “When we made our decision to sell the company, we considered other potential buyers. Ultimately, we agreed that EDP was the right choice to help our team continue to provide safe, reliable service to our customers and also take good care of our employees. We are confident we made the right choice.”
Blue Peak Resources LLC was the sell side advisor representing High Grade Gas Service.
EDP is actively seeking to expand its national footprint and diversify through the addition of new retail propane and light fuels operations.
Illinois-based Energy Distribution Partners provides propane service to residential and commercial customers in 19 states. Energy Distribution Partners pursues a long-term strategy of purchasing/partnering with successful operations in propane and other fuels and in the midstream energy sector, retaining the brand name, preserving local management and delegating to leaders in local communities. This is EDP’s 34th transaction. The company is actively seeking partners for growth. For more information, visit www.edplp.net.