ER Energy, Inc. Sale to Thompson Gas, LLC Press Release
Ukiah, CA. – Eel River Energy, Inc. (“ER Energy”), is pleased to announce the successful sale of its propane business and distribution assets to ThompsonGas, LLC (“Thompson”) effective today. ER Energy distributes propane to over 10,000 residential and commercial end-users, with terminals and customers throughout Northern California, Reno NV, and the Sierra Mountain range of central California. The acquisition by Thompson provides another strong foothold for the growing company and its expanding presence on the West Coast.
Commenting on the sale, Ken Foster, CEO of ER Energy said, “We built ER Energy from the ground up, by knowing our customers on a first-name basis and providing reliable service to them. We’ve always known that Thompson Gas would offer a great opportunity for our staff and team members to continue these customer relationships while also growing in their careers with a reputable national company.”
Founded in 1946 and based in Frederick, MD, Thompson distributes propane across the United States, serving both residential and commercial end-users. Newly appointed CEO Jeff Kerns stated, “We’ve known Ken and ER Energy for years, and have great respect for his team and their accomplishments. Ken’s family-oriented approach to his business is a perfect complement to the same principles that drive Thompson Gas’ daily business: trust and service. We intend to continue serving ER Energy’s customers in the same manner.”
ER Energy was advised by Corner Capital Advisors, LLC (based in Santa Barbara, CA and Houston, TX) on the transaction. Kevin Henrick of Corner Capital Advisors added, “We are very happy for Ken and all of his team, and of course for Thompson Gas. Thompson is the beneficiary of an excellent operation, and both teams worked through creative solutions to ensure a smooth transition.”
P. A. Weber III / Kevin Henrick