M&A Deal Summary

Inergy Acquires Highland Propane

On July 12, 2004, Inergy acquired energy services and equipment company Highland Propane from RGC Resources for 28M USD

Acquisition Highlights
  • This is Inergy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Inergy’s 2nd largest (disclosed) transaction.
  • This is Inergy’s 1st transaction in the United States.
  • This is Inergy’s 1st transaction in Virginia.

M&A Deal Summary

Date 2004-07-12
Target Highland Propane
Sector Energy Services and Equipment
Buyer(s) Inergy
Sellers(s) RGC Resources
Deal Type Divestiture
Deal Value 28M USD

Target

Highland Propane

Roanoke, Virginia, United States
Highland Propane Co. provides energy services.

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Buyer(S) 1

Buyer

Inergy

Kansas City, Missouri, United States

Category Company
Sector Energy Services and Equipment
DESCRIPTION

Inergy Midstream, L.P. has combined into Crestwood Midstream Partners LP, trading under the ticker symbol CMLP. ?Inergy, L.P. has been renamed Crestwood Equity Partners LP, and its symbol changed from NRGY to CEQP.


DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 2
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 2
Year (2004) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-04 Liberty Propane

Overland Park, Kansas, United States

Liberty Propane operates retail propane distribution companies in multiple regions of the United States. Liberty offers a superior level of customer service and expertise throughout its network of companies, providing fuel for many uses including home heating, water heating, cooking and commercial purposes.

Buy $223M

Seller(S) 1

SELLER

RGC Resources

Roanoke, Virginia, United States

Category Company
Founded 1883
Sector Energy Services and Equipment
Employees100
Revenue 97M USD (2023)
DESCRIPTION

RGC Resources provides energy and related products and services to customers in Virginia through its operating subsidiaries including Roanoke Gas Company, Diversified Energy Company and RGC Ventures of Virginia, Inc. RGC Resources was founded in 1883 and is based in Roanoke, Virginia.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1