Creating Value in All Our Businesses
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada. Superior operates in a mature industry with high barriers to entry and substantial free cash flow potential. It is led by a strong and experienced management team focused on excellent customer service and generating strong and growing cash flows.
In the last five years, Superior Plus management has worked hard to implement competitive cost structures in their businesses, leading to reduced leverage and higher margins.
Distribution and retail marketing of propane products, distribution of liquid fuels including heating oil and propane gas, and wholesale liquids marketing services.
There are three distinct Energy Distribution divisions:
1. The Canadian retail propane distribution and related services business operates under the trade name “Superior Propane”. Superior Propane began operations in 1951 and is engaged primarily in the distribution and retail sales of propane, propane-consuming equipment and related services in Canada. Services include:
- the rental of tanks, cylinders and other equipment
- the supply, installation and repair of equipment
- warranty and preventative maintenance programs for installed equipment.
2. U.S. Propane distributes propane gas and liquid fuels like heating oil in the Northeast, Atlantic, Southeast, and Midwest regions, along with California, in the United States. It also installs, maintains and repairs, propane and heating oil equipment. The NGL Propane, LLC acquisition in 2018 extends its target footprint and provides significant opportunity to increase its presence through the execution of a rollup acquisition strategy given the improved platform and footprint.
3. The Supply Portfolio Management business provides value-added services under the trade name “Superior Gas Liquids”, primarily to Superior Propane and small and medium-sized propane retailers in the United States and Canada. SGL provides transportation, storage, risk management, supply and logistics services to its customers.