What Lakes Gas does

Lakes Gas Co. is a family-owned retail propane distributor founded in 1959 and headquartered in Forest Lake, Minnesota, ranked as the 14th largest retail marketer of propane in the United States. The company delivers propane to residential, commercial/industrial, agricultural, construction, and fleet customers across more than 60 branch locations in six Upper Midwest states (Minnesota, Wisconsin, Michigan, South Dakota, North Dakota, and Illinois), and also operates 19 jurisdictional pipelines in Minnesota and Wisconsin that supply continuous propane directly to homes and businesses without on-site tank storage. Its technology stack centers on a software-driven automatic delivery system that uses usage tracking and weather data to schedule refills proactively, wireless tank monitors that alert dispatchers when levels drop, and a MyFuelPortal online account platform; the company also retains the Blackhawk Propane sub-brand for the Illinois-Wisconsin Stateline region.

Revenue is generated primarily through per-gallon propane delivery (usage-based) to residential and commercial accounts, supplemented by recurring monthly tank leasing fees (subscription), cylinder exchange and refill transactions, Agricultural and construction specialty services, and autogas fleet fueling installations. The company uses a vertical segmentation go-to-market approach with direct sales and local branch-led customer acquisition, and offers three pricing programs — Easy Pay with Price Cap (12 equal monthly payments), Pre-Buy (summer-priced winter supply), and 3-Year Price Protection (36-month locked pricing bundled with auto-delivery and tank monitoring) — alongside referral incentives and new-customer promotions.

Name

Lakes Gas

Legal name

Lakes Gas Co.

Website

https://lakesgas.com

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

51–100 employees

Short description

Lakes Gas is a family-owned, 14th largest US retail propane distributor delivering residential, commercial, agricultural, and fleet propane across 60+ Upper Midwest branches via tank delivery and 19 owned pipelines, supplemented by tank leasing and pricing protection programs.

Ownership category

akta.pro rank

Product category

Propane Distribution Services

NAICS

Fuel Dealers (457210)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171)

akta.pro primary industry

Propane Pipeline Transportation (TLAGAEAD)

akta.pro secondary industries

NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul) (TLAGAEAI), NGL/LPG Pipeline Storage & Terminaling (Caverns, Bullet Tanks, Tank Farms) (TLAGAEAM), Bulk Fuel, Propane & Energy Supply for Farms (Retailer-Operated) (AFABAJAL)

Keywords

• Propane delivery services
• Fuel distribution services
• Residential propane supply
• Commercial propane delivery
• Propane tank leasing

Headquarters

HQ city

Forest Lake

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Propane Delivery (Residential): Recurring propane deliveries to residential customers, with automatic delivery programs that schedule deliveries based on usage patterns and weather conditions. Revenue is generated per gallon delivered with various pricing programs including price caps and pre-buy options.
2. Propane Delivery (Commercial/Industrial): Bulk propane deliveries to commercial operations including manufacturing, hospitality, landscaping, healthcare, and industrial facilities. Higher volume transactions with volume-based pricing.
3. Propane Tank Leasing: Monthly leasing fees for propane tank rental with maintenance included. Tanks are provided to customers who don't own their own equipment, with all upkeep handled by Lakes Gas.
4. Agricultural Propane Services: Specialized propane services for farming operations including crop drying, barn heating, flame weed control, and poultry house heating and sanitizing.
5. Propane Autogas/Fleet Fueling: Propane fuel for vehicle fleets including forklifts, buses, and commercial vehicles. Customized on-site fueling stations installed at customer locations.
6. Cylinder Exchange and Refill: Retail propane cylinder exchange and refill services for grills, RVs, and other propane-powered equipment. One-time transactions for tank exchanges and refills.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Lakes Gas distributes propane fuel to residential, commercial, agricultural, construction, and fleet customers across the Upper Midwest United States through over 60 local branch locations and direct delivery. The company sells propane by the gallon with automatic delivery scheduling, leases propane tanks with maintenance included, supplies bulk propane to commercial and industrial operations, and provides propane autogas fueling infrastructure for vehicle fleets.

Product overview

Lakes Gas operates as a propane delivery company offering a unified portfolio of fuel and related services organized around core delivery, tank management, and pricing protection programs. The primary offering is propane delivery for residential and commercial customers, supplemented by tank installation and leasing, wireless tank monitoring, and specialized services for forklifts, autogas fleets, construction, and agriculture. Payment programs including Easy Pay with Price Cap, Pre-Buy, and 3-Year Price Protection add customer pricing flexibility. Regional sub-brand Blackhawk Propane serves the Illinois-Wisconsin Stateline area. The company operates over 60 locations across the Upper Midwest with both residential and commercial service capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Propane Delivery (Residential & Commercial) Core propane fuel delivery service for homes and businesses, including automatic delivery programs that predict refill needs based on usage and weather. Targeted at residential homeowners and commercial/industrial accounts across the Upper Midwest.
• Propane Tank Installation & Leasing Propane tank installation and monthly leasing service covering various tank sizes for residential and commercial properties. Includes installation, maintenance, and safety inspections as part of the rental.
• Bulk Propane Large-volume propane delivery service for commercial operations including landscaping, hospitality, healthcare, manufacturing, and industrial facilities. Includes on-site commercial tank installation and customized delivery schedules.
• Propane for Forklifts Propane fuel and cylinder exchange services designed for forklift operations at warehouses, construction sites, and industrial facilities.
• Propane Autogas Vehicle fleet fueling solution using propane autogas, including customized on-site station installation and mobile fueling options for municipalities, transit fleets, and private commercial fleets.
• Propane for Construction

Quantifiable outcome

• New customers can save up to $750 with promotional offers including $100 free propane, free tank swap, and free safety check
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered minor.

• Wisconsin Propane Gas Association (WPGA)minorOthersLakes Gas is affiliated with WPGA, displaying their logo on the company website. The association provides industry resources, advocacy, and incentive programs for propane providers in Wisconsin.
• Minnesota Propane Gas Association (MPGA)minorOthersLakes Gas is affiliated with MPGA, displaying their logo on the company website. The association offers rebate programs for propane water heaters, boilers, furnaces, garage heaters, and lawn mowers.
• National Propane Gas AssociationminorOthersLakes Gas participates in National Propane Gas Association programs and offers national rebates to customers through this affiliation.
• Michigan Propane Gas AssociationminorOthersLakes Gas offers Michigan Propane Gas Association incentive programs including agriculture, landscape/golf/turf, residential appliances, builder/construction, and on-road fleet incentive programs.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ThompsonGas: Privately held regional propane distributor operating across the Midwest and Southeast with comparable residential delivery, automatic refill programs, and tank-leasing offerings.
• Suburban Propane Partners: Major publicly traded US propane distributor serving residential, commercial, and agricultural customers with a comparable multi-state branch model; competes head-to-head with Lakes Gas in adjacent Midwest markets.
• Ferrellgas Partners: National propane and refined fuels distributor with multi-state branch operations, including tank monitoring, autogas, and pricing programs that mirror Lakes Gas's product set.
• Sharp Energy: Regional propane distributor (a Chesapeake Utilities subsidiary) serving Mid-Atlantic and Southeast customers with residential, commercial, and autogas propane offerings analogous to Lakes Gas's portfolio.
• Star Group: Northeast US heating oil and propane distributor with a similar full-service delivery model, automatic refill programs, and tank-leasing structure targeting cold-weather residential customers.

Broad incumbents

• AmeriGas Partners: Largest US retail propane marketer (a UGI Corporation subsidiary), directly competing with Lakes Gas on residential, commercial, and agricultural supply at national scale with significantly larger procurement and marketing budgets.

Regional players

• Bluegrass Gas Sales: Regional propane marketer serving Kentucky and surrounding states with residential, commercial, and agricultural supply; comparable operating model though primarily a Kentucky regional player versus Lakes Gas's Upper Midwest focus.
• DCC Energy: International (primarily UK/Ireland) retail energy and LPG distributor with a similar full-service propane model; comparable category and customer approach but operates outside Lakes Gas's North American footprint.

Emerging players

• U-Haul: Operates a national propane tank-exchange program through its U-Haul Moving & Storage locations; overlaps with Lakes Gas's cylinder exchange/refill revenue stream but does not directly compete in bulk residential delivery.
• CleanFuel USA: US propane autogas infrastructure provider specializing in fleet conversion and on-site fueling stations; competes with Lakes Gas in the autogas commercial vertical rather than residential heating.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/blackhawk.propane
• Xx.com/lakesgasco

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lakes Gas