Inergy
American supplier of propane / From Wikipedia, the free encyclopedia
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Inergy, L.P. (NYSE: NRGY) is an American supplier of propane based in Kansas City, Missouri that claims to be the fourth-largest propane retailer in the United States. Serving 800,000 customers in 28 states.[1][2] It is also a major salt miner via its U.S. Salt LLC subsidiary with its salt caverns later being used for natural gas storage.
This article needs to be updated. (August 2019) |
It was founded in 1998 by its current president and CEO John J. Sherman after he sold his start up propane marketing company LPG Services Group to Dynegy.[3] As of November 2010, the company had acquired 89 businesses – mostly regional and local propane distributors.[4]
It operates 28 states and employs approximately 3,000 associates and has 700,000 customers. .[1]
In August 2010 it acquired its parent Inergy Holdings which had also traded on the New York Stock Exchange under the ticker symbol NRGP in a deal valued at $2 billion with the resulting company being reported to be worth $6 billion. Prior to the acquisition both companies shared the same offices in Kansas City.[5]