#United States #New York #Propane Distribution #Revelar Capital #Lettermen's Energy

Revelar Capital Expands Its Investment Portfolio with the Acquisition of Lettermen's Energy

On December 18, 2025, Revelar Capital, a prominent private equity firm known for its focus on healthcare services, business services, and specialty manufacturing, announced its acquisition of Lettermen's Energy. This acquisition marks a significant milestone for Revelar, being their fifth platform investment in just 18 months. The transaction, however, did not disclose its financial terms which adds to the intrigue surrounding this bold move.

Founded in 2021, Lettermen's Energy has rapidly ascended to become a leading multi-regional distributor of propane across the United States. Operating in 20 states, the company has developed a comprehensive administrative infrastructure paired with a hyper-local sales and marketing strategy that serves over 50,000 customers nationally. This strategic approach allows Lettermen's to offer superior service to both residential and commercial markets.

The firm’s management team, guided by CEO and Co-Founder Steve Wambold, is confident in their distinctive vision of merging extensive national experience with exceptional local distributor expertise. Wambold expressed his excitement, stating, "We built Lettermen's with a distinct vision to combine our experience leading a scaled national propane platform with the local expertise of best-in-class regional distributors across the country." The partnership with Revelar, according to Wambold, brings an