Inergy

Inergy

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. 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. 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. As of November 2010, the company had acquired 89 businesses – mostly regional and local propane distributors.It operates 28 states and employs approximately 3,000 associates and has 700,000 customers. .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.

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