JP Energy Partners, LP, ("JPE"), is proud to announce the completion of the acquisition of Heritage Propane Express, LLC ("HPX"). The Federal Trade Commission approved the transaction on May 31st which was the final requirement needed to complete the transaction.
JPE through its subsidiary Pinnacle Propane, LLC ("Pinnacle"), is a leading distributor of propane in the south and southwest United States. HPX is a rapidly growing business serving the eastern two thirds of the United States, and is the third largest propane cylinder exchange business in the country. The acquisition of HPX will add cylinder exchange as a service offering to Pinnacle Propane, which will complement Pinnacle's retail propane and refined fuel businesses.
JP Energy Partners was formed in 2010 to focus on developing a platform of assets to provide refinery services. JPE currently owns these assets through its subsidiaries Pinnacle Propane, JP Crude Oil Services and JP Refined Products. The ownership and management team of JP Energy Partners bring extensive experience and a history of success in the energy business. More information about JP Energy Partners and Pinnacle Propane can be found at www.jpenergypartners.com and www.pinnpropane.com.
Heritage Propane Express is the 20 pound cylinder exchange division formerly owned by Heritage Propane. HPX through its network of production facilities delivers 20 pound cylinders primarily for home grilling, patio heating and mosquito suppression. End users can exchange an empty cylinder with a full cylinder at any of HPX's network of providers. For more information about HPX go to www.heritagepropaneexpress.com.
Contacts:
JP Energy Partners
Cande Smillie, 972-444-0300
csmillie@jpenergypartners.com
