Family offices invest in Midwest-based energy company

Chicago-based family offices, including one that invests on behalf of Illinois Governor J.B. Pritzker’s family, have recapitalized Energy Distribution Partners (EDP), a propane and light fuel distributor.

The financial terms were not disclosed but Pritzker Private Capital, Duchossois Capital Management and Chicago-based private investment firm backed by Steans family Concentric Equity Partners invested alongside one another and in partnership with the EDP’s management team, who will continue to lead the business.  

“EDP is a recognized leader in the propane distribution industry with multiple avenues for continued growth and a terrific leadership team,” said Ryan Roberts, investment partner – services at the Pritzker family office.  Gov. Pritzker’s brother Tony Pritzker is the CEO of the firm. The brothers are heirs to the Hyatt hotel fortune.

The investment is viewed as an enhancement of Pritzker Private Capital’s family of service companies that includes ENTACT and Valicor Environmental Services. The deal with EDP is slated to accelerate its growth strategy. The firm is also a signatory United Nations Principles for Responsible Investment.

Meanwhile, Duchossois Capital Management is a private investment firm owned by the Duchossois, which through creative investment structures and expansive operation resources invests in multiple asset classes including private and public companies and private investment funds and real estate.

Ken Hooten, partner at Concentric, said that the firm was delighted to join with to like-minded family investment firms to support a strong and growth-focused business like EDP.

EDP is also based in Chicago and operates 26 regional branch locations spanning 10 states. The company has grown through acquisition of local market leaders and plans to expand and diversify through the purchase of new retail and midstream operations.

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