#United States #Baltimore #Soundcore Capital #Reliable Energy #Economy Propane

Reliable Energy Partners Expands into the Mid-Atlantic Market

In a strategic move to broaden its operational landscape, Reliable Energy Partners has successfully acquired Economy Propane, a prominent player in the bulk propane distribution sector. This significant acquisition represents not just a growth initiative but also a strategic diversification for Reliable, enhancing its presence across the Mid-Atlantic region.

Expansion into New Territory

Economy Propane, headquartered in Baltimore, Maryland, has earned a solid reputation for providing outstanding propane services to both residential and commercial customers. This acquisition grants Reliable Energy access to a new and thriving market, allowing it to serve more customers across four states in the Northeast and Mid-Atlantic regions.

Sean Daugherty, CEO of Reliable Energy, expressed enthusiasm about this acquisition, stating, "Economy has a well-deserved reputation for delivering bulk propane safely and efficiently. By welcoming Economy into our family, we are not just growing — we are diversifying strategically." The combination of Reliable’s resources and Economy’s established customer base is expected to foster significant growth in the propane market.

Strategic Vision of the Acquisition

The acquisition aligns seamlessly with Reliable’s growth strategy, which emphasizes a combination of organic expansion and selective acquisitions aimed at shaping a premier multi-regional propane distribution platform. By integrating Economy into its operations, Reliable Energy looks to leverage the existing customer relationships and service excellence that Economy has built over the years.

Michael Khutorsky, Senior Managing Director at Soundcore Capital Partners, the firm behind Reliable, remarked on the importance of this strategic acquisition. He noted, "The integration of Economy reflects a vital component of our strategic plan. It supplements our previous endeavors and paves the way for robust growth across multiple markets, including residential, commercial, and industrial settings."

Growing Together

Josh Garfunkel, Vice President at Soundcore, added that Economy's acquisition showcases Soundcore's commitment to collaborating with founder-owned businesses. "We look forward to supporting the Economy team and their growth initiatives," he stated, emphasizing that this collaboration is intended to cultivate further advancements in service delivery and customer satisfaction.

Economy’s leadership, particularly founders Doug McKnew and Bobby Perry, have built a legacy of reliability, safety, and customer satisfaction, and Reliable Energy intends to honor and expand upon that legacy. Josh McKnew, a representative of Economy, expressed his excitement about joining Reliable Energy, stating, "We look forward to leveraging Reliable's resources to enhance our service capabilities while maintaining our commitment to the communities we serve."

Future Outlook

As Reliable Energy Partners continues to grow its portfolio through acquisitions and organic initiatives, it aims to provide superior energy solutions tailored to both individual and business needs. While specific financial details regarding the transaction remain undisclosed, the collective vision of Reliable Energy and Soundcore Capital illustrates a promising trajectory for the future of propane distribution in the United States.

Whether it’s enhancing safety protocols, increasing efficiency, or expanding service offerings, Reliable Energy appears poised to make a lasting impact in the propane market. Their commitment to creating a sustainable, customer-centric business model will surely play a key role in shaping the future of energy solutions in the regions they serve.

This acquisition is a clear testament to Reliable Energy's ambition and vision for growth, opening new opportunities and reinforcing their dedication to a remarkable customer experience. Their journey in the Mid-Atlantic region is just beginning, and the energy industry will be keenly observing their progress in the coming months and years.