| Ticker: | - | 432 Westridge Drive | |
| Exchange: | New York Stock Exchange | Watsonville, California 95076 | |
| Industry: | Retail | (408) 724-1921 |
| Type of Shares: | Common Units | Filing Date: | 10/10/96 | |
| U.S. Shares: | 8,540,000 | Offer Date: | 12/11/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $20.00 - $22.00 | |
| Primary Shares: | 8,540,000 | Offer Price: | $21.00 | |
| Secondary Shares: | 0 | Gross Spread: | $1.47 | |
| Offering Amount: | $179,340,000 | Selling: | $0.85 | |
| Expenses: | $3,800,000 | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Dean Witter Reynolds | Co-manager | (212) 392-2222 |
| Auditor: Arthur Andersen | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 6/30/96 | 6/30/96 | ||||
| Revenue: | $595.79 | Assets: | $450.92 | ||
| Net Income: | $21.16 | Liabilities: | $261.35 | ||
| EPS: | $1.23 | Equity: | $189.58 | ||
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The Partnership believes that, upon consummation of the Transactions, it will be the fifth largest retail marketer of propane in the United States, serving more than 360,000 active residential, commercial, industrial and agricultural customers. The Partnership was recently formed to own and operate the propane business and assets of Synergy and Empire Energy and Coast. The Partnership's operations are concentrated in the east coast, south-central and west coast regions of United States. On a pro forma basis for fiscal year ended June 30, 1996, the Partnership had retail propane sales of approximately 235 million gallons and operating income plus depreciation and amortization of approximately $54.9 million. The Partnership was recently formed to own and operate the propane businesses and assets of Synergy and Empire Energy, Myers and Coast. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used for repayment of outstanding indebtedness to NPS, repayment of other outstanding indebtedness, distributions to the General Partners, repayment of acquisition bridge financing of Northwestern Growth, payment of fees and expenses of the Transactions and for general corporate purposes. |
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