Cornerstone Propane Partners LP


Cornerstone Propane Partners L.P., a Delaware corporation was formed Dec 1996 as a public company, under Northwestern Growth, a wholly owned subsidiary of Northwestern Public Service Company ("NPS"), a New York Stock Exchange-listed energy distribution company.

Cornerstone was formed by the merger of four entities: SYN Inc., Empire Energy Corporation, Myers Propane Gas Company and CGI Holdings, Inc.  All apparently retail propane distributors, or at least with a major footprint in that market.  The effect was to create a national retail propane distribution company.  See Cornerstone Propane Partners LP · 8-K · For 12/17/96

At the time Cornerstone Propane Partners LP issued about 10 million shares of stock ("CNO"), and formed an operating subsidiary called Cornerstone Propane LP which issued about 200 million in secured notes and obtained a 125 million bank credit facility.

Although incorporated in Delaware, the operating headquarters were at 432 Westridge Drive in Watsonville, California.  CGI must stand for something like "Coast Gas Incorporated" as the management portion of this S-1 seems to state.  There they state that the initial officers were: Merle D. Lewis age 48 Chairman of the Board of Directors; Richard R. Hylland age 36 Vice Chairman of the Board of Directors; Keith G. Baxter age 47 President, Chief Executive Officer and Director; Charles J. Kittrell age 57 Executive Vice President and Chief Operating Officer; Ronald J. Goedde age 47 Executive Vice President and Chief Financial Officer; Vincent J. DiCosimo age 38 Senior Vice President; Daniel K. Newell age 40 Director"

At the time the company was formed, they estimated their customer-base would be: " more than 360,000 active residential, commercial, industrial and agricultural customers from 312 customer service centers in 26 states." (Source)

See Also
82 SEC Filings from 1996 to 2003