Aug, 23
2023
Business, Free News Articles

Matrix Announces the Successful Sale of Mystic Oil Company, Inc.

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, announces that it has advised Mystic Oil Company, Inc. and its affiliates ("Mystic Oil" or the "Company") on its sale to Petroleum Marketing Group, Inc. The Company sells fuels on a consignment and wholesale basis to approximately 150 Gulf, Citgo, ExxonMobil, Shell and unbranded customers in Connecticut, Massachusetts, Rhode Island, New York and Vermont.

Mystic Oil was founded in 1956 by Aaron Agrin and is a fourth-generation, family-owned and operated business with deep roots in Mystic, Connecticut. During its first few decades, the Company expanded its fuels offerings by becoming a top distributor of leading fuels brands such as ExxonMobil and Gulf while also developing a chain of company operated convenience stores. In 2008, Mystic Oil divested its company operated convenience store business and transitioned its focus to the wholesale fuels business. Peter Zelken became President of Mystic Oil in 2017 and acquired the Company from his father, Scott Zelken, that same year. Since that time, under Peter's leadership, Mystic has grown significantly and has become one of the leading fuels distributors in New England.

Matrix provided merger and acquisition advisory services to Mystic Oil, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by Cedric Fortemps, CFA, Co-Head of Matrix's Downstream Energy & Convenience Retail Investment Banking Group; and Michael Tucker, CFA, Associate.

Peter Zelken, President of Mystic Oil, stated, "Matrix demonstrated an extraordinary understanding of the downstream petroleum business. They were patient, diplomatic, intelligent and trustworthy. It's not easy handing the keys to a multigenerational family business to just anyone. My sincere thanks to Cedric Fortemps and Mike Tucker on a job well executed from start to finish."

Mr. Fortemps added, "Peter has done a tremendous job growing Mystic Oil and making it a very attractive wholesale fuels business for any fuels company trying to establish a presence or grow in New England. We were honored to have been chosen by him to advise on finding the best transaction partner and steward for his exceptional fourth-generation business."

Otto Konrad and Kaitlin Cottle of Williams Mullen served as legal counsel for Mystic Oil Company, Inc.

About Matrix's Downstream Energy & Convenience Retail Investment Banking Group:

Matrix's Downstream Energy & Convenience Retail Investment Banking Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience retailing, petroleum marketing & distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum logistics, terminals and car washes. Group members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate valuations, special situations and strategic planning engagements. Since 1997, our Downstream Energy & Convenience Retail Investment Banking Group has successfully completed over 290 engagements with a total transaction value of more than $15 billion.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Aug, 17
2023
Business, Free News Articles

Matrix Announces the Successful Sale of H.A. Mapes, Inc.

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, announces that it has advised H.A. Mapes, Inc. ("H.A. Mapes" or the "Company") on its sale to Nouria Energy Retail, Inc., a subsidiary of Nouria Energy Corporation ("Nouria"). While H.A. Mapes is known throughout New England as a leading petroleum distributor, the Company in recent years had expanded into convenience retail operations through acquisitions, new-to-industry builds, and major store remodels. Prior to the sale, the Company owned 13 retail locations and sold fuel on a wholesale basis to approximately 80 customers.

H.A. Mapes is a third-generation, family owned and operated business with roots in Springvale, Maine. The Company was founded in 1936 by Harry Allen Mapes as a small heating oil provider servicing customers in Springvale. In 1950, Harry's son, Harry Allen Mapes, Jr. joined the business and helped the Company expand its reach throughout Southern Maine. For its first 40 years, H.A. Mapes focused on expanding its heating oil business throughout southern Maine. In 1982, Jonathan Mapes formally joined the third-generation family business. Under Jonathan's guidance, H.A. Mapes transitioned from distributing heating oil to motor fuels and became one of the largest distributors in Maine. In 2018, Jonathan began building out the Company's convenience retail offerings, and in 2022 he unified each company-operated store with the launch of the Harry's proprietary brand.

Matrix provided merger and acquisition advisory services to H.A. Mapes, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by Spencer Cavalier, CFA, Co-Head of Matrix's Downstream Energy & Convenience Retail Investment Banking Group; Andrew LoPresti, CPA, CFA, Vice President; and Kyle Tipping, CFA, Senior Associate.

Jonathan Mapes, President of H.A. Mapes, stated, "In 2019 Matrix identified our deficiencies from a buyer's perspective via their detailed evaluation. Our team immediately embarked on a new approach to market. We asked Matrix to re-evaluate in 2022 whereupon the decision to 'go to market' was made. I would recommend this two-step process to anyone considering the anguishing decision to sell as it can improve value considerably. Transitioning out of the essential petroleum business has been an emotional yet a timely decision that Matrix facilitated professionally."

Mr. Cavalier added, "We have enjoyed working with Jonathan and his talented team, including Steve McGrath, over the last several years providing valuation, strategic and transaction advisory services. Jonathan's family and employees built one of the premier petroleum marketing and convenience retailing businesses in New England, and it was an honor to be their advisor."

Michael Quinlan of Jensen Baird served as legal counsel for H.A. Mapes, Inc.

About Matrix's Downstream Energy & Convenience Retail Investment Banking Group:

Matrix's Downstream Energy & Convenience Retail Investment Banking Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience retailing, petroleum marketing & distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum logistics, terminals and car washes. Group members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate valuations, special situations and strategic planning engagements. Since 1997, our Downstream Energy & Convenience Retail Investment Banking Group has successfully completed over 290 engagements with a total transaction value of more than $15 billion.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC.

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 19
2023
Business, Free News Articles, Manufacturing

Matrix Announces the Successful Sale of Vital Plastics, Inc.

BALTIMORE, Md. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, is pleased to announce the sale of Vital Plastics, Inc. ("Vital Plastics" or the "Company"), a high-volume manufacturer and assembler of injection molded plastic products, to Wolverine Capital Partners ("Wolverine Capital").

Headquartered in Baldwin, WI, Vital Plastics provides injection molding, assembly operations, and tooling solutions to the transportation, industrial, consumer durable, and building product sectors. Operating out of two facilities, totaling over 65,000 combined square feet, the Company manufactures products such as automotive and window clips, industrial components and medical parts, among others, for a blue chip customer base of numerous Fortune 500 entities located throughout the United States. Value-added capabilities, including advanced engineering and design consulting, coupled with unrivaled responsiveness and customer service, has earned Vital Plastics its reputation as a preeminent manufacturer of injection molded products.

Over the past decade, leadership of the organization has transitioned from majority owner Terry Townsend to CEO George Hauser and President & CFO Matthew Fish. Mr. Hauser and Mr. Fish have been instrumental in helping grow and modernize the Company during that period, including driving the implementation of industry-leading automation and reporting systems. Mr. Fish will continue as the lead of day-to-day operations moving forward.

Regarding the transaction, Mr. Fish commented, "We are pleased to partner with the Wolverine Capital team. Of all the groups we interacted with, their team resonated most deeply with us given their straightforward approach and passion for building businesses. We are uniquely aligned in recognizing the attributes that have driven the Company's success: its loyal employee base and longstanding customer relationships, most of which date back multiple decades. We look forward to our next chapter of growth with Wolverine Capital."

Matrix provided merger and acquisition advisory services to Vital Plastics, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by William O'Flaherty, Managing Director; David Shoulders, Managing Director and Head of Matrix's Consumer & Industrial Investment Banking Group; Matt Oldhouser, CPA, Senior Associate; Sahan Pandey, Senior Analyst; and Hampton Massie, Analyst.

Regarding Matrix's services, Mr. Hauser noted, "My partners and I were impressed by the level of commitment and sophistication that Matrix brought to the transaction. Their detailed knowledge of our specific industry, paired with their experience in transaction advisory, created tremendous value for us. We are extremely grateful for their efforts."

Mr. O'Flaherty added, "We are thrilled to have found such an excellent partner for Vital Plastics. We congratulate Terry on building such an impressive business and commend George for the tremendous work he's done as CEO to position the organization for the next phase of growth. We have no doubt that Matt will continue to find success as part of this new partnership given his commitment to providing world-class services to his customers."

Brian Pitney and David Carroll of Sands Anderson PC served as legal counsel for Vital Plastics. Dykema Gossett PLLC served as legal counsel for Wolverine Capital.

About Matrix Capital Markets Group, Inc.

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions.

Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 17
2023
Business, Free News Articles

Matrix Announces the Successful Sale of BeWell Network, LLC

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, announces that it has advised BeWell Network, LLC ("BeWell" or the "Company") on its successful sale to H.E.R. Management, LLC.

BeWell is a residential and outpatient behavioral health provider focused on the treatment of substance use disorder. The Company operates in two markets, San Juan Capistrano and Dana Point in Orange County, California and Santa Barbara, California.

BeWell's service offerings include detoxification, residential care, a partial hospitalization program (PHP), and an intensive outpatient program (IOP) for substance use disorder treatment in both Orange County and Santa Barbara, as well as PHP and IOP for primary mental health care treatment in Santa Barbara. To support patients enrolled in BeWell's outpatient programs, the Company also operates sober living homes in each of its two markets. The Company is contracted with many of the payors that have a significant presence in Southern California.

BeWell prides itself on the quality of its substance use disorder recovery programs and has a highly trained staff dedicated to patient recovery. The Company is also focused on developing active alumni programs to support patients once they are out of recovery.

BeWell is Joint Commission accredited and LegitScript certified.

Matrix provided M&A advisory services to BeWell, including marketing the transaction, advising on valuation, deal structure, and other transaction terms, and ultimately achieving a successful execution. The transaction was managed by Vasanta Pundarika, Head of Matrix's Healthcare Investment Banking Group, Casey Van de Walle, Director, and Barrett Smith, Analyst.

Ms. Pundarika said, "We are happy to have worked with the owners of BeWell Network as their financial advisors on this transaction. Under new ownership, we look forward to seeing BeWell implement an enhanced growth strategy, while continuing to provide high quality care to its patients."

About Matrix Capital Markets Group, Inc.

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies.

Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

MATRIX CAPITAL MARKETS GROUP, INC.

800 East Canal Street, Suite 850 | Richmond, VA 23219

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC.

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 29
2023
Business, Free News Articles, Home and Garden

Matrix Announces the Successful Sale of the Lawn and Garden Division of Antilles Power Depot Inc.

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, is pleased to announce the sale of the Lawn & Garden Division ("Antilles L&G" or the "Company") of Antilles Power Depot Inc. ("APD") to Freije Supply Inc. ("Freije Supply"). Antilles L&G is a leading distributor of Stihl, Walker, and other top brands in the lawn maintenance and equipment marketplace.

Headquartered in Carolina, Puerto Rico, with additional locations in the Dominican Republic, St. Thomas, St. Croix, and St. Maarten, APD is a multifaceted, award-winning, distributor and service provider of power generation systems, as well as equipment and tools for lawn care. With over two decades of operating history, the Company has established a diverse commercial and residential customer base that utilizes Antilles L&G's specialized sales and service capabilities.

Matrix provided merger and acquisition advisory services to Antilles L&G and APD, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by David Shoulders, Managing Director and Head of Matrix's Consumer & Industrial Investment Banking Group; William O'Flaherty, Managing Director; Matt Oldhouser, Senior Associate; and Sahan Pandey, Senior Analyst.

Mr. Shoulders noted, "We're thrilled to have assisted the APD team in this important carve-out transaction, allowing them to focus on their core business. We enjoyed working with the Company and its exceptional management team and congratulate all parties on this successful outcome."

Regarding Matrix's services, Jason Hebert, President of APD, commented, "Matrix did an exceptional job navigating this highly complex corporate carve-out. I commend their knowledge of these nuanced transactions and am grateful for their assistance." Addressing the transaction, he added, "We believe this divestiture creates exceptional value for all parties. The Freije Supply team is acquiring a complementary business with exceptional recurring revenue, and I'm confident they're positioned to grow the business line. This additional capital allows APD to focus on and grow our core business, generator sales and service, while also supporting our growth in yacht and marine services, as well as our expansion into new physical locations throughout the Caribbean."

Founded in 2014 in Carolina, Puerto Rico, Freije Supply is a wholesale distributor of electrical, plumbing, construction and other miscellaneous household products. Owned and operated by Manolo "Manuel" Freije III, Freije Supply maintains relationships with the most established brands in the markets it serves, including 3M, Delta, EcoSmart, General Electric, Rheem, and Simpson Strong-Tie, among numerous others. Freije Supply distributes to a diverse set of customers throughout the Caribbean. Financing for the transaction was provided by Bluhaus Small Business Fund, L.P., a Small Business Investment Company established to make debt and equity investments in businesses operating predominantly in Puerto Rico.

Bill Lowman and Jason Davis of ShuffieldLowman served as legal counsel for Antilles L&G and APD.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve-outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 29
2023
Business, Free News Articles, Home and Garden

Matrix Announces the Successful Sale of the Lawn and Garden Division of Antilles Power Depot Inc.

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, is pleased to announce the sale of the Lawn & Garden Division ("Antilles L&G" or the "Company") of Antilles Power Depot Inc. ("APD") to Freije Supply Inc. ("Freije Supply"). Antilles L&G is a leading distributor of Stihl, Walker, and other top brands in the lawn maintenance and equipment marketplace.

Headquartered in Carolina, Puerto Rico, with additional locations in the Dominican Republic, St. Thomas, St. Croix, and St. Maarten, APD is a multifaceted, award-winning, distributor and service provider of power generation systems, as well as equipment and tools for lawn care. With over two decades of operating history, the Company has established a diverse commercial and residential customer base that utilizes Antilles L&G's specialized sales and service capabilities.

Matrix provided merger and acquisition advisory services to Antilles L&G and APD, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by David Shoulders, Managing Director and Head of Matrix's Consumer & Industrial Investment Banking Group; William O'Flaherty, Managing Director; Matt Oldhouser, Senior Associate; and Sahan Pandey, Senior Analyst.

Mr. Shoulders noted, "We're thrilled to have assisted the APD team in this important carve-out transaction, allowing them to focus on their core business. We enjoyed working with the Company and its exceptional management team and congratulate all parties on this successful outcome."

Regarding Matrix's services, Jason Hebert, President of APD, commented, "Matrix did an exceptional job navigating this highly complex corporate carve-out. I commend their knowledge of these nuanced transactions and am grateful for their assistance." Addressing the transaction, he added, "We believe this divestiture creates exceptional value for all parties. The Freije Supply team is acquiring a complementary business with exceptional recurring revenue, and I'm confident they're positioned to grow the business line. This additional capital allows APD to focus on and grow our core business, generator sales and service, while also supporting our growth in yacht and marine services, as well as our expansion into new physical locations throughout the Caribbean."

Founded in 2014 in Carolina, Puerto Rico, Freije Supply is a wholesale distributor of electrical, plumbing, construction and other miscellaneous household products. Owned and operated by Manolo "Manuel" Freije III, Freije Supply maintains relationships with the most established brands in the markets it serves, including 3M, Delta, EcoSmart, General Electric, Rheem, and Simpson Strong-Tie, among numerous others. Freije Supply distributes to a diverse set of customers throughout the Caribbean. Financing for the transaction was provided by Bluhaus Small Business Fund, L.P., a Small Business Investment Company established to make debt and equity investments in businesses operating predominantly in Puerto Rico.

Bill Lowman and Jason Davis of ShuffieldLowman served as legal counsel for Antilles L&G and APD.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve-outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 12
2023
Business, Free News Articles

Matrix Advises Apollo Veterinary Medical Hospitals and AVMH Ventures on the Successful Recapitalization and Acquisition of a Portfolio of Pet Supplies Plus Stores

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading independent investment bank, announces that it served as lead advisor on Apollo Veterinary Medical Hospitals and AVMH Ventures' ("Apollo" or the "Company") recapitalization and acquisition of a multi-state portfolio of Pet Supplies Plus ("PSP") retail pet stores.

A privately-owned company established in 1999 by Dr. Steven Whatley in Albany, GA, Apollo is a leading veterinary care provider in the Southeast. The Company is comprised of nine full-service veterinary hospital locations throughout Alabama, Georgia, South Carolina, and Florida.

Decades of experience in veterinary medicine and the commercial pet industry led Dr. Whatley to expand the business portfolio to include Pet Supplies Plus franchise retail stores thereby connecting knowledge, passion, and ability to serve customers, while growing profitably within the U.S. pet market. PSP's franchise platform, growth objectives, and support for owners aligned closely with Apollo's business model and operating philosophy.

"We are proud to add this most recent portfolio of Pet Supplies Plus stores to our existing portfolio and further diversify and expand our business," said Dr. Whatley, Chief Executive Officer of Apollo. "We are committed to operating best-in-class veterinary hospitals and Pet Supplies Plus stores, and we do that by forging personal relationships with our clients, patients, team members and the communities that we serve. As we continue to expand our presence, we were fortunate to work with Matrix to structure and intermediate this important transaction. Their experience, functional expertise, and objective approach were critical to securing capital on terms that were very attractive to the Company."

Pet Supplies Plus, a subsidiary of Franchise Group, Inc. (NASDAQ: FRG), is focused on making it easier to get better products and services for their customers' pets. With over 640 locations in 41 states and counting, the stores have a streamlined design making it easy to navigate a wide assortment of natural pet foods, goods, and services. Headquartered in Livonia, Michigan, Pet Supplies Plus is ranked No. 20 in Entrepreneur magazine's 43rd Annual Franchise 500(r) list as of 2022.

In its role as sole intermediary, Matrix provided capital advisory services to Apollo including financial modeling and sensitivity analysis, capital structure assessment, negotiation with counterparties, and placement of both debt and equity capital. The assignment was managed by John Whalen, Head of Matrix's Capital Advisory Investment Banking Group; Ryan Weir, Director and Garrett Novotny, CFA, CPA, Senior Analyst.

Mr. Weir added, "We very much appreciate the trust that Apollo placed in us to advise them on the capital raise and acquisition. Apollo is a great operator and the addition of this portfolio of stores represents a transformational acquisition for the Company as it further scales and diversifies. Matrix was privileged to work with the Apollo Team."

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 07
2023
Business, Free News Articles

Matrix Announces the Successful Sale of WTG Fuels Holdings, LLC’s Retail Motor Fuels, Convenience Retail, and Fleet Fueling Businesses

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, today announced the successful closing on the sale of the retail motor fuels, convenience retail, and fleet fueling businesses of WTG Fuels Holdings, LLC ("WTG Fuels" or the "Company") to subsidiaries of GPM Investments, LLC, a subsidiary of ARKO Corp. (Nasdaq: ARKO) ("GPM"). The assets sold to GPM included 24 Uncle's branded convenience stores, 68 Gascard branded cardlock sites, 43 private cardlock sites, the Company's Gascard fleet card assets, and 9 consignment and wholesale dealer accounts.

WTG Fuels, based in Midland, Texas, is a large, diversified fuels distributor and convenience retailer with operations across west Texas and southeast New Mexico. Prior to the close of the transaction, the Company's assets included a chain of high-volume convenience stores operating under its proprietary Uncle's brand, a large fleet fueling business operating under its proprietary Gascard brand, and a delivered fuels business, serving residential and commercial customers, that ranks among the largest propane distributors in the Southwest. WTG Fuels' delivered fuels business, which provides propane, refined products, and lubricants to nearly 19,000 residential and commercial customers through a network of over 70 bulk plants and warehouses, is not included in the sale to GPM and will continue to be operated by WTG Fuels post-closing.

WTG Fuels is a subsidiary of West Texas Gas ("WTG"), a leading provider of natural gas gathering, processing, transmission, and distribution services throughout Texas and Oklahoma.

Matrix provided merger and acquisition advisory services to WTG, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by Vance Saunders, CPA, Managing Director; Cedric Fortemps, CFA, Co-Head of Matrix's Downstream Energy & Convenience Retail Investment Banking Group; David Corbett, CFA, Director; John Duni, CFA, CPA, Vice President; and Michael Tucker, CFA, Associate.

John Steen, CEO of West Texas Gas, commented, "Matrix proved to be an indispensable partner and advisor to WTG on the divestiture of these assets. We appreciate all the efforts of the Matrix team over the course of this transaction."

Mr. Saunders added, "Our relationship with WTG first began back in late 2021 as we helped the Company evaluate strategic alternatives for the WTG Fuels businesses. After reviewing several options, the decision was made to divest WTG Fuels' retail motor fuels, convenience retail, and fleet fueling businesses through a carveout process to maximize the value of the Company's assets. We are grateful to WTG for entrusting us with this complex mandate."

Larry Parker, Trevor Wind, Mary Katherine McGetrick, David Allen, Nico Balbontin, and Alston Underwood of Williams Mullen served as legal counsel for WTG Fuels.

About Matrix's Downstream Energy & Convenience Retail Investment Banking Group:

Matrix's Downstream Energy & Convenience Retail Investment Banking Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience retailing, petroleum marketing & distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum logistics, terminals and car washes.

Group members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate valuations, special situations and strategic planning engagements. Since 1997, our Downstream Energy & Convenience Retail Investment Banking Group has successfully completed over 270 engagements with a total transaction value of more than $13 billion.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jun, 02
2023
Business, Free News Articles

Matrix Advises TBC Corporation on the Sale of NTB and Tire Kingdom Service Centers

RICHMOND, Va. -- Matrix Capital Markets Group, Inc. ("Matrix"), a leading, independent investment bank, announces that it has advised TBC Corporation ("TBC" or the "Company") on the sale of TBC's company operated retail businesses to Mavis Tire Express Services Corp. ("Mavis"). The sale includes TBC's retail network of 595 tire and automotive service centers that utilize the NTB Tire & Service Centers ("NTB") and Tire Kingdom Service Centers ("Tire Kingdom") brands.

TBC, a joint venture between Sumitomo Corporation of Americas and Michelin North America Inc., is based in Palm Beach Gardens, Florida and is one of North America's largest marketers of automotive replacement tires. The Company executes a multi-channel marketing strategy that includes automotive retail, wholesale and distribution, and franchise operations. As part of the transaction, Mavis and TBC have entered into a distribution agreement, through which TBC will provide tire distribution and wholesale services for Mavis retail locations.

While both the NTB and Tire Kingdom brands have long, storied histories, the formation of TBC's retail platform occurred during the early 2000s when the Company acquired both brands through separate acquisitions. Over the next two decades, TBC continued growing each brand and ultimately operated 392 NTB and 203 Tire Kingdom branded locations across a 17-state marketing territory prior to the sale to Mavis. Together, the NTB and Tire Kingdom brands represent the fourth largest independent tire dealership in the United States according to Modern Tire Dealer's 2022 MTD 100 rankings.

Matrix provided merger and acquisition advisory services to TBC, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was led by Stephen Lynch, CFA, CPA, Managing Director and William O'Flaherty, Director. David Shoulders, Head of Matrix's Consumer & Industrial Investment Banking Group; Kyle Tipping, CFA, Senior Associate; Matt Oldhouser, CPA, Senior Associate and Alexander Rakos, Senior Analyst, also advised on the transaction.

Brian Maciak, Executive Vice President & General Counsel of TBC Corporation, recognized, "This transaction was complex and lengthy in duration, yet the efforts, professionalism, and attention to detail from the entire Matrix team have made it as seamless as possible to finalize the agreement and partnership between TBC and Mavis."

Mr. Lynch added, "We are honored to have been chosen by TBC to not only market the NTB and Tire Kingdom brands, which are both incredibly well-known and respected within the automotive industry, but also to help the Company further develop this strategic partnership. The success of this transaction is a great reflection of the world-class organization that TBC and its shareholders have built, and we are very excited to watch TBC and Mavis grow and strengthen their partnership."

Mr. O'Flaherty noted, "Matrix is thrilled to have achieved such an excellent outcome for our client, creating value in both the near and long-term for the Company. We were uniquely positioned to drive value in this transaction given our rich history of multi-site retail expertise paired with our knowledge and experience in the automotive aftermarket value chain. We congratulate TBC, Mavis, and their various stakeholders on this successful outcome."

Bradley Edmister and Aafke Pronk of Hogan Lovells US LLP served as legal counsel for TBC.

About Matrix Capital Markets Group, Inc.:

Founded in 1988, Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA, with additional offices in Baltimore, MD and New York, NY. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, not-for-profit and publicly traded companies. Matrix's advisory services include company sales, recapitalizations, capital raises of debt & equity, corporate carve outs, special situations, management buyouts, corporate valuations and fairness opinions. Matrix serves clients in a wide range of industries, including automotive aftermarket, building products, car washes, consumer products, convenience retail, downstream energy, healthcare and industrial products.

For additional information or to contact our team members, please visit https://www.matrixcmg.com/.

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC

Related link: https://www.matrixcmg.com/

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