Reliable Energy Expands Midwest Presence with Acquisition of Gateway Propane

NEW YORK, Nov. 24, 2025 /PRNewswire/ -- Reliable Energy Partners ("Reliable"), a growth platform targeting residential and commercial customers in the highly fragmented propane distribution sector and backed by Soundcore Capital Partners, LP ("Soundcore"), is pleased to announce its acquisition of Gateway Propane ("Gateway").

Gateway is a market leading propane distributor specializing in providing forklift cylinder exchange services to commercial and industrial customers in the greater St. Louis metropolitan area. With this acquisition, Reliable extends its operational footprint to three states and strengthens its strategy of driving growth in high-potential metropolitan areas across the Northeast, Southeast, Mid-Atlantic, and Midwest regions.

"Gateway has built a stellar reputation for dependable service and strong, longstanding customer partnerships throughout the St. Louis market," said Sean Daugherty, CEO of Reliable. "We're thrilled to welcome the Gateway team into Reliable as we continue to develop a leading propane distribution platform serving residential and commercial customers. Their focus on safety, reliability and local relationships aligns perfectly with our vision for the future."

"Gateway is Reliable's third acquisition since inception earlier this month and exemplifies Soundcore's strategy of scaling businesses through the identification of attractive targets through rigorous research and market mapping," said Michael Khutorsky, Senior Managing Director at Soundcore. "We see tremendous expansion potential for the Reliable platform as we continue building a best-in-class scaled propane distribution company focused on providing exceptional service to a wide base of residential and commercial customers."

Reliable's growth strategy combines organic expansion with selective acquisitions to create a premier, multi-regional propane distribution platform. The company is committed to empowering its operating partners with capital, resources, and operational expertise—while preserving the local service and community commitment that customers value most.

Terms of the transaction were not disclosed.

About Soundcore
Soundcore Capital Partners was founded in 2015 by Jarrett Turner and is based in New York, NY. Soundcore is a thesis-driven private equity firm that specializes in buy-and-build investments in the lower middle-market that are headquartered in the United States and Canada. Soundcore has completed 109 acquisitions across fourteen platforms and focuses primarily on business & outsourced services, industrial services, specialty manufacturing, and value-added distribution sectors. For more information, please visit www.soundcorecap.com.

Soundcore is actively seeking additional acquisitions. Please contact Danny New regarding new platforms and add-on opportunities for our existing portfolio, including Reliable Energy Partners.

Danny New
Deal Origination
[email protected]
(212) 812-1198

About Reliable Energy Partners
Headquartered in Tampa, Florida, Reliable Energy Partners is a dedicated partner in delivering superior energy solutions that meet the needs of a diverse customer base. Reliable strives to make a significant impact on the industry and the communities it serves by connecting customers with a safe, affordable, and sustainable fuel option. Reliable is dedicated to creating strategic partnerships with propane business owners and attracting new customers through organic growth opportunities. Reliable Energy Partners was founded in 2025 and is wholly owned by Soundcore Capital Partners. For more information, please visit www.reliable-ep.com.

Media Contact:
Elizabeth Olt
[email protected]
(212)-812-1432

SOURCE Soundcore Capital Partners