#United States #New York #Soundcore Capital #Reliable Energy #Florida Lift Gas

Soundcore Capital Partners Launches Reliable Energy Partners

In a significant move within the energy sector, Soundcore Capital Partners, LP, a private equity firm based in New York, has announced the formation of Reliable Energy Partners. This new platform aims to harness growth opportunities in the propane distribution industry, which remains competitive and widely fragmented. Soundcore's investment in Florida Lift Gas (FLG), a prominent propane distributor with operations in Tampa and Orlando, marks the launch of this initiative.

Expansion Plans and Strategic Growth

Reliable Energy Partners is positioned to target both residential and commercial customers. The company plans to expand its presence across several metropolitan areas in the Northeast, Southeast, Mid-Atlantic, and Midwest regions of the United States. Soundcore is committed to advancing operational efficiencies and prioritizing safety while navigating this growth trajectory.

Jarrett Turner, the Managing Partner and Founder of Soundcore, expressed enthusiasm over the venture, commenting on the strategic market mapping and key discovery processes undertaken by the Soundcore team: "The propane industry presents ripe opportunities for consolidation and professionalization, which aligns perfectly with Soundcore's strategic value creation approach."

Michael Khutorsky, the Senior Managing Director at Soundcore overseeing Reliable, also shared insights about partnering with FLG, highlighting their operational excellence and established customer relationships. As Reliable Energy Partners evolves, it seeks to bolster its service offerings and geographic footprint, ensuring continued satisfaction for its clientele.

Leadership and Vision

At the helm of Reliable Energy Partners is newly appointed CEO Sean Daugherty. With extensive experience in the propane distribution sphere, he has a proven track record of successfully acquiring and integrating similar businesses. Daugherty stated, "Soundcore's profound industry knowledge partnered with their history of developing platform companies makes them an invaluable ally."

Under his leadership, Reliable Energy Partners will focus on creating a workforce that values customer and employee satisfaction as core to its mission. Daugherty aims to ensure Reliable becomes both an employer of choice and a preferred partner for independent propane operators throughout the United States. He emphasized that the acquisition of Florida Lift Gas is just the beginning of their commitment to quality service and operational integrity.

The Road Ahead

Reliable Energy Partners aims to pursue both organic and strategic growth, fortifying its position in the market. The company pledges to support its affiliates with necessary capital, resources, and expertise needed for business scalability, while staying grounded in community-focused service—a pillar that customers appreciate.

The financial terms related to the transaction have not been disclosed. Founded in 2015, Soundcore Capital Partners has achieved 107 acquisitions across fourteen platforms, focusing on niche markets including outsourced services and specialty manufacturing. The formation of Reliable Energy Partners is an exciting new chapter in Soundcore's journey, and it is already seeking additional acquisitions to expand its horizons.

For more information or inquiries regarding Reliable Energy Partners or future opportunities, interested parties can reach out to Soundcore through their contact channels.