NEW YORK, Nov. 12, 2025 /PRNewswire/ -- Soundcore Capital Partners, LP ("Soundcore"), a New York-based private equity firm, is pleased to announce the formation of Reliable Energy Partners ("Reliable"), a growth platform targeting residential and commercial customers in the highly fragmented propane distribution sector, through its investment in Florida Lift Gas ("FLG"). FLG is a leading propane distributor, with locations in Tampa and Orlando, specializing in providing forklift cylinder exchange services to a wide range of commercial customers.

Soundcore intends to expand Reliable's footprint in high growth MSAs in the Northeast, Southeast, Mid-Atlantic and Midwest while also driving operational best practices in tandem with an unwavering commitment to safety.

"We are excited to launch the fourteenth platform in Soundcore's history with our entry into the growing propane distribution sector, marking the conclusion of months market mapping and identification of key organic and acquisition-related growth levers by the Soundcore team," said Jarrett Turner, Managing Partner and Founder of Soundcore. "The propane industry is primed for consolidation and professionalization, a core competency of Soundcore's differentiated approach to value creation."

"We are thrilled to partner with the team at Florida Lift Gas as part of Reliable's launch," said Michael Khutorsky, Senior Managing Director at Soundcore, leading this platform. "The company brings a legacy of operational excellence and deep customer relationships. Together, under the Reliable platform, we are well-positioned to accelerate growth, expand our geographic footprint, service offerings, and continue delivering exceptional service to our customers. We are committed to building Reliable into a best-in-class scaled propane distribution company that provides a compelling value proposition to owner operators considering exit alternatives."

Reliable will pursue both organic growth and strategic acquisitions to build a leading, multi-regional residential and commercial propane distribution platform. The platform is committed to supporting its operating partners with capital, resources, and operational expertise to scale their businesses while maintaining the local service and community focus that customers deeply value.

In connection with the formation of Reliable, Soundcore partnered with Sean Daugherty as Chief Executive Officer of the platform. Sean has decades of experience in the propane distribution industry with a demonstrated track record of acquiring, integrating and growing residential and commercial propane companies. "When Soundcore approached me, I could see that their industry knowledge, developed through rigorous thesis work, paired strongly with their track record of creating and growing platform companies, making them an ideal partner," said Sean Daugherty. "With Soundcore's support, I look forward to building the leadership team and becoming both the employer of choice and preferred partner to individual propane operators across the U.S. The acquisition of FLG is the first step in that journey. As we build Reliable, we will remain true to the core values I've held throughout my career: customers and employees come first — and success follows."

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 107 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

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SOURCE Soundcore Capital Partners