FOR IMMEDIATE RELEASE
Richmond, VA and Tallahassee, FL – (August 1, 2011) – Transact Capital is pleased to announce the acquisition of Williams Panhandle Propane, Inc. (WPP), an independent propane retailer with locations in Tallahassee and Carrabelle, FL by Ferrellgas Partners, L.P. (NYSE:FGP), a Fortune 1,000 company what through its operating partnership, Ferrellgas, L.P., serves approximately one million customers in all 50 states, the District of Columbia, and Puerto Rico.
WPP is a locally owned and operated propane dealer that serves residential and commercial customers in the Northwester and North Central regions of Florida from its Tallahassee headquarters and a satellite location in Carrabelle. Established in 1972, WPP is one of the most dependable LP gas and storage system suppliers in the region. As the nation’s premier propane provider, Ferrellgas serves home, business, and agriculture customers. This most recent purchase adds to the approximately 225 acquisitions the company has completed in its more than 70-year history. During that time, Ferrellgas has grown from a single-location, independently owned propane retailer to a publicly traded company that is one of the largest propane retailers in the United States.
“The addition of Williams Panhandle provides us with a significant strategic improvement in Florida’s growing state capital, as well as along its Gulf coast,” President and Chief Executive Officer Steve Wambold says. “This acquisition also gives us the opportunity to service an attractive market area that complements existing Ferrellgas operations. We look forward to continuing Williams’ tradition of excellent service to the residents and businesses throughout the area.”
According to Bud Williams, President of WPP, “The sale allows me to retire with the knowledge that the Company’s future is in good hands and its customers and employees will be treated with fairness and respect.”
Transact Capital Managing Director Anthony Vincent commented, “Bud told me the first time we met that he was looking for a purchaser that he could trust to take good care of his employees and customers and treat the shareholders fairly. Although large and sophisticated, Ferrell turned out to be the perfect buyer for WPP. We are pleased to have been given the opportunity by Bud Williams to assist all parties involved.”
Transact Capital is an independent mergers and acquisitions advisory firm headquartered in Richmond, VA with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of small privately held companies with less than $100 million in revenues. With extensive experience in owning, running, or investing in private companies or divisions of public companies, the firm’s principals are able to help many business owners exit their companies or explore other opportunities.
To learn more about Transact Capital, please call Steve Zacharias at 804-323-6868 ext. 102 or send an e-mail to Steve at Steve@TransactCapital.com.
