Cetane Announces the Sale of Midwest Bottle Gas
Houston, Texas. – April 3, 2025 – Cetane Associates (“Cetane”) is pleased to announce that EDP, headquartered in Chicago, Illinois, has acquired Midwest Bottle Gas Distributors, Inc. (“Midwest Gas”), located in Highland Heights, Kentucky. The transaction closed on January 28, 2025.
Midwest Gas, a family-owned business founded in 1945 by Robert and Ruth Greene, has been serving Northern Kentucky and the Greater Cincinnati area for decades. Starting with a single customer, the company quickly grew to meet post-war demand for propane, the new alternative to wood for cooking and heating. After Robert’s sudden passing in 1955, Ruth Greene took over the company, overcoming industry challenges and gender barriers to lead the business to success. Under Ruth’s leadership, Midwest Gas expanded with new facilities and storage tanks, becoming the leading propane distributor in Northern Kentucky. Her son, Mike, later became president, and the company remains family-operated to this day. They continue to honor Ruth’s legacy of quality service, community commitment, and fair pricing.
Mike Rilling, co-owner, commented, “Cetane brought us great choices and EDP’s reputation made us feel comfortable with the decision we made. EDP brings the tools and experience that will make Midwest Gas even more successful.” Jason Greene, co-owner, continued, “It was a pleasure. We could not have been more pleased with the outcome and we appreciate everything Jeff and the team did for us.” Jenna Rilling, general manager of Midwest Gas, added, “It was great working with the Cetane team. We greatly appreciate everything they did to help us get to this point in our lives.”
EDP is a prominent propane distribution company with extensive expertise in retail and commercial propane sales, operations, and finance. They deliver safe and dependable propane services to residential, commercial, industrial, and agricultural customers across the United States, from Maine to California. EDP serves over 200,000 customers in 24 states, spanning both rural communities and major metropolitan areas. Thomas E. Knauff, Executive Chairman at EDP, remarked, “We are honored to welcome Midwest Bottle Gas into our family of companies. Midwest has built a remarkable legacy of service, integrity, and community commitment. We are especially proud to retain all Midwest employees, ensuring that their deep industry knowledge and customer relationships continue to thrive. Ruth Greene’s pioneering leadership and dedication to excellence have left a lasting impact, and we are committed to upholding that legacy as we move forward together.”
Jeff Brunner, Director at Cetane Associates, said, “It was an absolute pleasure working with Jason, Jenna, and Mike. Quality people with a passion for serving their communities, and proudly continuing Ruth Greene’s legacy. I wish each one of them all the best in their next chapters.”
Cetane served as the sole arranger and financial advisor to Midwest Gas. Cetane advised on the sale, including an initial valuation opinion, marketing the business through a confidential process, assisting in negotiating the final deal terms, and coordinating the due diligence process. Team members Jeff Brunner, Duncan McMurchie, Fred Lord, Dalton Brooks, and Whitney Parsley managed the transaction.
About Cetane Associates
Cetane is a leading provider of financial advisory services to business owners in the propane industry. Clients engage Cetane to advise on sales, spin-offs, and acquisitions, as well as to perform valuation and ad hoc corporate finance assignments. For more information, please visit www.cetane.com
Media Contact:
Tara McCauley, 516.965.8761
tmccauley@cetane.com
