Soundcore Capital Partners, a New York-based private equity firm, has announced the formation of Reliable Energy Partners, a new growth platform focused on residential and commercial propane distribution, through its acquisition of Florida Lift Gas. The move also includes the appointment of propane industry veteran Sean Daugherty as the platform’s Chief Executive Officer.
Florida Lift Gas, headquartered in Tampa and Orlando, is a leading propane distributor specializing in forklift cylinder exchange services for a broad range of commercial customers. The acquisition marks the fourteenth platform in Soundcore’s history and represents the firm’s entry into the propane distribution sector.
Soundcore plans to expand Reliable Energy Partners across high-growth metropolitan areas in the Northeast, Southeast, Mid-Atlantic, and Midwest regions. The firm aims to implement operational best practices while maintaining a strong commitment to safety and security. Reliable will pursue both organic expansion and strategic acquisitions to establish a leading multi-regional propane distribution platform, offering capital and operational support to partner companies while preserving their local community presence and customer-first values.
As CEO, Sean Daugherty brings decades of experience in the propane distribution industry, with a proven history of acquiring and integrating residential and commercial propane companies. His leadership will be instrumental in scaling Reliable Energy Partners into a premier player in the sector.
Soundcore’s Senior Managing Director, Michael Khutorsky, will lead the platform alongside Daugherty. The firm views the propane industry as ripe for consolidation and professionalization, aligning with its buy-and-build investment strategy across the lower middle market.
KEY QUOTES:
“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. The propane industry is primed for consolidation and professionalization, a core competency of Soundcore’s differentiated approach to value creation.”
Jarrett Turner, Managing Partner and Founder, Soundcore Capital Partners
“We are thrilled to partner with the team at Florida Lift Gas as part of Reliable’s launch. 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.”
Michael Khutorsky, Senior Managing Director, Soundcore Capital Partners
“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. 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.”
Sean Daugherty, Chief Executive Officer, Reliable Energy Partners
