Platinum Equity has signed a definitive agreement to acquire EDP, a Chicago-based propane distributor with more than 200,000 customers in 24 states, from investment firm PPC, the companies said on 28 October 2026. Terms were not disclosed.
Why Platinum Equity is buying EDP (Energy Distribution Partners)
Platinum Equity said it plans to support EDP's organic growth, invest in its operating capabilities and technology, and pursue further acquisitions in what it called a highly fragmented market. Chief executive Kevin Pollack will continue to lead the business.
“We are excited to partner with management and invest behind the next chapter of growth.”
Deal terms and financing
Terms were not disclosed. Debt financing is being provided by J.P. Morgan Securities, Guggenheim Corporate Funding, Oaktree and Fifth Third.
Regulatory approvals and timing
The deal is subject to customary closing conditions and regulatory approvals and is expected to close in November 2026.
Market context
EDP was founded in 2012 by Tom Knauff and has grown by acquiring 45 local operators while keeping their brands and management. PPC invested in 2020, and EDP's EBITDA has more than tripled since then. LP Gas magazine ranks it among the ten largest US propane retailers.
