Strength Capital Partners Completes Sale of Propane Services, LLC
Birmingham-based Strength Capital Partners, LLC is pleased to announce the sale of Propane Services, LLC (“Propane Services”) to NGL Energy Partners LP (NYSE: NGL). NGL is a diversified mid-stream master limited partnership providing multiple products and services to end-users. Their services include transportation, storage, blending and marketing of crude oils and other refined products. They also distribute propane and heating oils.
Propane Services is the leading distributor of propane to industrial and commercial customers in Metro Detroit and surrounding areas. The acquisition will add stable industrial/commercial volume to NGL’s existing propane distribution network and strengthen their presence in the Midwest.
Propane Services has been owned by Strength Capital and its' principals since 2001. The 16-year holding period highlights the firm's willingness and ability to hold onto investments beyond the typical private equity horizon.