Key Takeaways
- • Platinum Equity signed a definitive agreement to acquire EDP, a Chicago-headquartered propane distributor serving residential, commercial and agricultural customers across the United States, according to the October 28, 2026 announcement.
- • EDP operates more than 60 locations in 24 states and serves over 200,000 customers, positioning it as one of the largest independent propane distributors in the country.
- • Terms of the transaction were not disclosed; the deal remains subject to customary closing conditions and regulatory approvals.
- • EDP CEO Kevin Pollack will remain in his role, and Platinum Equity says it plans to fund sales, marketing, technology and additional acquisitions in a highly fragmented market.
- • J.P. Morgan Securities and Baird are advising Platinum Equity, Latham & Watkins is serving as legal counsel, and acquisition financing is being arranged by J.P. Morgan, Guggenheim Corporate Funding, Oaktree and Fifth Third.
Summary
Platinum Equity announced on October 28, 2026 that it has signed a definitive agreement to acquire EDP, a leading provider of propane distribution and related services to residential, commercial and agricultural customers across the United States. Terms of the transaction were not disclosed. The announcement was made from Los Angeles.
Headquartered in Chicago, EDP serves more than 200,000 customers through more than 60 locations across 24 states, including Arizona, California, Florida, New York and Pennsylvania. According to the announcement, the company has grown into one of the largest independent propane distributors in the country through a combination of strategic acquisitions and organic expansion. EDP operates a portfolio of locally managed operating companies and pursues a strategy of acquiring propane and other fuel operations while retaining brand names and local management.
Platinum Equity co-president Louis Samson said propane "continues to play a vital role in meeting the energy needs" of its customers and described EDP as having an attractive combination of scale, recurring customer demand and strong local market positions. David Glatt, managing director at Platinum Equity, said the firm sees opportunities to support organic growth, invest in operating capabilities and technology infrastructure, and pursue further acquisitions in what he called a highly fragmented market. EDP CEO Kevin Pollack will continue to lead the company after the transition to new ownership.
The transaction is subject to customary closing conditions and regulatory approvals. Platinum Equity, founded in 1995 by Tom Gores and managing approximately $48 billion in assets, is being advised by J.P. Morgan Securities LLC and Baird, with Latham & Watkins LLP as legal counsel. Financing will be arranged by J.P. Morgan Securities LLC, Guggenheim Corporate Funding, LLC, Oaktree and Fifth Third.
Headquartered in Chicago, EDP serves more than 200,000 customers through more than 60 locations across 24 states, including Arizona, California, Florida, New York and Pennsylvania. According to the announcement, the company has grown into one of the largest independent propane distributors in the country through a combination of strategic acquisitions and organic expansion. EDP operates a portfolio of locally managed operating companies and pursues a strategy of acquiring propane and other fuel operations while retaining brand names and local management.
Platinum Equity co-president Louis Samson said propane "continues to play a vital role in meeting the energy needs" of its customers and described EDP as having an attractive combination of scale, recurring customer demand and strong local market positions. David Glatt, managing director at Platinum Equity, said the firm sees opportunities to support organic growth, invest in operating capabilities and technology infrastructure, and pursue further acquisitions in what he called a highly fragmented market. EDP CEO Kevin Pollack will continue to lead the company after the transition to new ownership.
The transaction is subject to customary closing conditions and regulatory approvals. Platinum Equity, founded in 1995 by Tom Gores and managing approximately $48 billion in assets, is being advised by J.P. Morgan Securities LLC and Baird, with Latham & Watkins LLP as legal counsel. Financing will be arranged by J.P. Morgan Securities LLC, Guggenheim Corporate Funding, LLC, Oaktree and Fifth Third.
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