Platinum Equity to Acquire EDP
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Platinum Equity to Support Continued Investments in Sales, Marketing, Technology and Strategic Acquisitions

LOS ANGELES, Oct. 28, 2026 /PRNewswire/ -- Platinum Equity today announced it has signed a definitive agreement to acquire EDP, a leading provider of propane distribution and other related services to residential, commercial and agricultural customers across the United States. Terms of the transaction were not disclosed.

Headquartered in Chicago, EDP serves more than 200,000 customers through a network of more than 60 locations operating across 24 states. Since its founding, the company has established itself as one of the largest independent propane distributors in the country, growing through a combination of strategic acquisitions and organic expansion while maintaining a strong focus on safety, reliability and customer service.

EDP distributes propane and light fuels and provides other related services to residential homeowners, commercial businesses and agricultural customers through a portfolio of locally-managed operating companies with longstanding positions in their communities.

"Propane continues to play a vital role in meeting the energy needs of residential, commercial and agricultural customers across the country, supported by long-term demand for safe, reliable and locally delivered energy solutions," said Louis Samson, Co-President of Platinum Equity. "EDP has built an exceptional business with an attractive combination of scale, recurring customer demand and strong local market positions. The company operates in a resilient industry, provides an essential service and has assembled a high-quality team. We are excited to partner with management and invest behind the next chapter of growth."

Platinum Equity has extensive experience investing in distribution, route-based services and multi-site businesses. The firm believes EDP is well positioned to continue to expand its geographic footprint, deepen customer relationships and capitalize on long-term industry growth opportunities.

"EDP has proven to be an effective platform for integrating acquisitions while continuing to deliver strong service levels and operational performance across its network," said David Glatt, Managing Director at Platinum Equity. "We see opportunities to support the company's ongoing organic growth initiatives, invest in its operating capabilities and technology infrastructure, and pursue additional acquisitions in what remains a highly fragmented market."

EDP CEO Kevin Pollack will continue as CEO following the transition to new ownership.

"Over the past several years, EDP has built a differentiated platform by combining the capabilities of a scaled national organization with the entrepreneurial spirit and customer focus of our local operating companies," said Pollack. "Platinum Equity shares our long-term vision for the business and brings substantial operational expertise, acquisition experience and financial resources that will help us continue executing our growth strategy."

The transaction is subject to customary closing conditions and regulatory approvals.

Platinum Equity is being advised by J.P. Morgan Securities LLC and Baird on the acquisition of EDP. Latham & Watkins LLP is serving as legal counsel to Platinum Equity.

Financing for the EDP acquisition will be arranged by J.P. Morgan Securities LLC, Guggenheim Corporate Funding, LLC, Oaktree and Fifth Third.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $48 billion of assets under management and a portfolio of approximately 60 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations â a trademarked strategy it calls M&A&O® â acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 30 years Platinum Equity has completed more than 550 acquisitions. For more information go to www.platinumequity.com or visit Platinum Equity's newsroom for the latest stories about the firm.

About EDP

Chicago, Illinois-based EDP is a highly reputable, super-regional platform within America's highly stable and resilient propane distribution market â with deep experience in retail and commercial propane sales, operations and finance. The company provides safe, reliable propane service to residential and commercial customers in Arizona, California, Connecticut, Delaware, Florida, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, South Carolina, Virginia, Washington, West Virginia and Wisconsin. EDP pursues a long-term strategy of purchasing successful operations in propane and other fuels, retaining the brand name, preserving local management while continuing to support local communities.

Contact:

Dan Whelan

Platinum Equity

[email protected]

SOURCE Platinum Equity

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<p>Platinum Equity to Support Continued Investments in Sales, Marketing, Technology and Strategic Acquisitions LOS ANGELES, Oct. 28, 2026 /PRNewswire/ -- Platinum Equity today announced it has signed a definitive agreement to acquire EDP, a leading provider of propane distribution and other...</p>

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