JP Energy Partners LP completed the acquisition of Southern Propane Inc.’s assets for $14.9 million, the company said May 11.
The acquisition of the industrial and commercial propane distributor was financed through JP Energy’s revolving credit facility and the issuance of about 267,000 common units.
“We are pleased to complete this acquisition which strategically extends our current operations,” said J. Patrick Barley, CEO of JP Energy. “We will continue to evaluate bolt-on acquisitions that are accretive for our unit holders and create value for our customers.”
Domestic midstream-focused JP Energy Partners LP is based in Irving, Texas.
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