Ferrellgas Partners Acquires Logistics Provider
May 01, 2014
Overland Park-based Ferrellgas Partners LP plans to acquire Sable Environmental LLC. One of the nation’s largest propane distributors, Ferrellgass serves propane customers in all 50 states, D.C. and Peurto Rico. Sable Environmental, a privately held fluid logistics provider, is based in Corpus Christi, TX. Sable is expected to contribute about $20 million of annual EBITDA. Sable’s ownership group will purchase $50 million of the partnership’s common units. This is the first non-propane acquisition for Ferrellgas, as the company plans to expand beyond its core business. The selling price was $124.7 million.