Platinum Equity to acquire Energy Distribution Partners

Platinum Equity has signed a definitive agreement to acquire Energy Distribution Partners (EDP), a major independent propane distribution business in the United States. Headquartered in Chicago, EDP serves over 200,000 residential, commercial, and agricultural customers through a network of more than 60 locations across 24 states.

Platinum Equity intends to utilize the acquisition to expand its propane distribution platform, focusing on investments in sales, marketing, technology infrastructure, and further strategic acquisitions within the fragmented U.S. market. EDP CEO Kevin Pollack is expected to continue leading the company after the transaction closes.

The deal is subject to regulatory approvals and customary closing conditions. Latham & Watkins is serving as legal counsel for Platinum Equity, while J.P. Morgan Securities and Baird are acting as advisors. Financing for the acquisition will be arranged by J.P. Morgan Securities, Guggenheim Corporate Funding, Oaktree, and Fifth Third.