Press Releases

Matrix Advises on the Sale of Atkinson Oil Company to Colonial Oil

May 5, 2026 – Matrix Capital Markets Group, a division of Citizens, has advised Atkinson Oil Company, LLC, an affiliate of Jet Food Stores of Georgia, Inc., on its sale to Colonial Oil Industries, Inc. Atkinson Oil is a leading distributor of commercial fuels and lubricants across Georgia and also operates an emergency fueling business across the Eastern and Southern United States.

Atkinson Oil traces its roots to 1987 with the purchase of Pittman Oil, a single-truck fuel distributor and full-service gas station and tire center operator in Sandersville, Georgia. The Company experienced significant growth in the subsequent decades, both organically and through strategic acquisitions, including Kay Oil Company, Hammock Oil Company, and Producers Petroleum. During this period, Atkinson Oil also divested its service station operations to focus on its core fuel distribution platform.

In 2016, Jet Food Stores acquired Atkinson Oil and invested significantly in the business, expanding its distribution capabilities and adding complementary offerings, including Total-branded lubricants distribution and a disaster relief business providing emergency fuel supply to areas impacted by natural disaster events.

At the time of its sale, Atkinson Oil served nearly 500 commercial fuels and lubricants customers in Georgia and ranked among the largest Total-branded lubricants distributors in the country. Jet Food Stores will use the proceeds from the transaction to reinvest and grow its premier convenience store business.

Matrix provided merger and acquisition advisory services to Atkinson Oil, including valuation advisory and the execution of a confidential, structured sale process. The transaction was managed by Vance Saunders, CPA, Managing Director, Kyle Tipping, CFA, Vice President, and Ethan Sannes, Analyst.

Clint Hancock, President of Jet Food Stores, commented, “I want to first thank Michael Atkinson for his outstanding leadership over the past ten years during our ownership of the company. Michael and the entire Atkinson Oil team have built a best-in-class organization, and we are deeply grateful for their dedication, hard work, and commitment to serving customers every day. We are also excited to watch the Atkinson Oil employees continue to grow and thrive as part of the Colonial Oil organization. Colonial is a family-owned business that closely aligns with our own values and culture, with a shared commitment to treating both employees and customers in a truly best-in-class manner.”

Regarding Matrix’s services, Mr. Hancock noted, “The Matrix team, led by Vance, Kyle, and Ethan, provided outstanding advisory services. Their professionalism, deep market knowledge, and disciplined process were evident at every step – from evaluation and marketing through executing a complex asset purchase agreement and closing. Matrix clearly understands the market, and their process delivered several competitive offers and an exceptional outcome.”

Mr. Saunders added, “It was a pleasure working with Clint, Michael Atkinson, and the entire Atkinson Oil team on this transaction. They have built a highly attractive platform, combining their expertise in fuels and lubricants distribution with differentiated disaster relief capabilities. We are incredibly honored to have represented them on this transaction and look forward to Atkinson’s continued growth under Colonial’s ownership.”

Michael White and Taylor Eisenhauer of James Bates Brannan Groover, LLP served as legal counsel Atkinson Oil.

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 transportation & logistics, terminals, car washes and quick service restaurants. 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 400 engagements.

About Matrix Capital Markets Group
Founded in 1988, Matrix Capital Markets Group, a division of Citizens, is a leading, advisory-focused investment bank headquartered in Richmond, VA, with an additional office in Baltimore, MD. Matrix provides merger & acquisition and financial advisory services for privately-held, private-equity owned, 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.

Our industry focused, dedicated sector advisory groups serve clients in the automotive aftermarket, downstream energy & convenience retail, and outdoor recreation & marine markets. Our broad sector advisory groups serve clients in a wide range of industries including business services, consumer, and diversified industrials.  For additional information or to contact our team members, please visit www.matrixcmg.com.

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $226.4 billion in assets as of December 31, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail, private banking, wealth management and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,100 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. Consumer Banking includes Citizens Private Bank and Private Wealth, which integrate banking services and wealth management solutions to serve high- and ultra-high-net-worth individuals and families, as well as investors, entrepreneurs and businesses. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook.

# # #

The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others. The testimonials are not paid and are not indicative of future performance or success.

“Citizens” is the marketing name for the business of Citizens Financial Group, Inc. (“CFG”) and its subsidiaries. “Citizens Capital Markets & Advisory” is the marketing name for the investment banking, research, sales and trading activities of our institutional broker-dealer, Citizens JMP Securities, LLC (“CJMPS”), Member FINRA and SIPC

(See FINRA BrokerCheck and SIPC.org). “Matrix Capital Markets Group” is a brand name of CJMPS. Securities products and services are offered to institutional clients through CJMPS. (CJMPS disclosures and CJMP Form CRS). Banking products and services are offered through Citizens Bank, N.A., Member FDIC.

by Kelly Simons

Matrix Advises Monfort Companies on the Sale of its Convenience Retail Portfolio

February 26, 2026 - Matrix Capital Markets Group, Inc. has advised Monfort Companies and its affiliates (the “Company”) on the sale of its petroleum marketing and convenience retail assets to multiple buyers. Headquartered in Denver, Colorado, Monfort opportunistically invests in local economies with a focus on commercial real estate, entertainment venues, and multi-site retail. Prior to the divestment of its convenience retail portfolio, the Company owned and operated approximately 80 convenience stores across Colorado, Minnesota, Oklahoma, Texas, and Wisconsin.

Founded in 1930, Monfort has a long-standing legacy of investing in and supporting local businesses and has served as a key driver of economic growth throughout Colorado. In 2013, the Company expanded its diverse investment portfolio with the acquisition of its first convenience stores in Denver, Colorado. Over the following decade, Monfort aggressively grew its footprint in the convenience retail industry, acquiring and operating select 7-Eleven locations in Texas, Murphy USA sites in Minnesota, Speedway and Dino Stop stores in Wisconsin, Jack’s Convenience Stores in Texas, and the Chisholm Corner stores in Oklahoma. At its peak, Monfort operated nearly 80 convenience stores across multiple states, some of which included adjacent operations such as car washes, quick lube shops, QSRs, and full-service restaurants. Monfort exited the convenience retail channel through several strategic divestments during 2023 - 2026, selling the various geographic markets to buyers including Azan Petro, LLC; 7-Eleven, Inc.; Kent Kwik Convenience Stores; and Diamond Jubilee Oil, LLC.

Matrix provided merger and acquisition advisory services to Monfort, which included valuation advisory and marketing the business through multiple confidential, structured sale processes. The transactions were managed by Cedric Fortemps, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group and John Duni, CFA, CPA, Director.

Alon Mor, CEO of Monfort Companies commented, “Monfort has always invested with purpose. Growing a portfolio of nearly 80 stores across five states in just over five years reflects our team's ability to identify opportunity and execute. We're grateful for Matrix's partnership throughout this process, and we look forward to redeploying this capital into the next chapter of our growth.”

Mr. Fortemps added, “We’re honored to have been given the opportunity to advise the Monfort team on the sale of the sizable chain that they grew over such a short period of time. We wish them much success in redeploying this capital into other parts of their investment portfolio.”

Pierce Hunter, Gil Rosenthal, William Swartzwelder, and Lauren Rudzinski of Kutak Rock LLP served as legal counsel for the Company.

by Kelly Simons

Matrix Advises Jernigan Oil Company, Inc. on the Sale of its Convenience Retail Division to Sunoco Retail, LLC

February 9, 2026 – Matrix Capital Markets Group, Inc. has advised Jernigan Oil Company, Inc. on the sale of its convenience retail division to Sunoco Retail, LLC, an affiliate of Sunoco LP (NYSE: SUN). Jernigan is headquartered in Ahoskie, NC and operates a diversified business that includes convenience retail, propane distribution, commercial fuels, fuels transportation, and marina operations. Jernigan will use the proceeds from the sale of its convenience retail division to reinvest and grow its other businesses.

Jernigan Oil Company, Inc. was founded by L.S. Jernigan Sr. and his son, L.S. Jernigan Jr., in June 1948 as a farm machinery sales business. Over the years, as leadership was passed down to younger family members, the Company grew and became involved in the fuels business. In 1983, third-generation owner James “Duck” Harrell, alongside his wife Jerri, opened the first convenience store in Murfreesboro, NC. Under Duck and Jerri’s leadership, the convenience retail division grew to 24 locations, making it the largest family-owned convenience retail chain in Eastern North Carolina at the time. In 2006, Michael Harrell succeeded his father, Duck, as president of Jernigan Oil Company. Michael, along with his wife Billie-Joe and their three children, Miles, Jordan, and Mary-Joe, continued to grow the convenience retail division in Eastern North Carolina as well as in Southeastern Virginia. Today, Jernigan’s convenience retail division consists of 56 high-performing Duck Thru Food Stores and is recognized as the premier convenience retailer in Eastern North Carolina and Southeastern Virginia.

Matrix provided merger and acquisition advisory services to Jernigan, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale and related transaction documents, including a post-closing lease of 21 of the stores, a fuels transportation agreement, and a propane supply agreement. The transaction was managed by Cedric Fortemps, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; Kyle Tipping, CFA, Vice President; and Ethan Sannes, Analyst.

Michael Harrell, President of Jernigan Oil commented, “My family and I would like to thank Cedric, Kyle, Ethan, and the rest of the Matrix Team for their tireless efforts during this process. Their credibility, expertise, and professionalism – not only throughout the sale, but over years of valuations and guidance – showed why the Matrix Team was the right fit to lead us through this important milestone. We would also like to thank our customers for their many years of trust and support. Their loyalty has been the foundation of everything we’ve built, and we are deeply grateful. Most importantly, we want to thank our employees for their sacrifices, hard work, and dedication to Duck Thru Food Stores and Jernigan Oil Company. The strength and success of this company was built by our employees, and I am sincerely thankful for their commitment, pride, and the countless ways they made this journey possible.”

Mr. Fortemps added, “Our relationship with the Harrell family began nearly fifteen years ago, and from our very first interaction, it was clear that their entrepreneurial drive and commitment to building enduring businesses set them apart. We are honored to have advised the family on the sale of the Duck Thru Food Stores and look forward to seeing them continue to grow their other businesses in the years to come.”

Otto Konrad and Kaitlin Cottle of Williams Mullen served as legal counsel for Jernigan.

by Kelly Simons

Matrix Advises C&J Cox Corporation on the Sale of Convenience Retail Assets to Anabi Oil Corporation

December 4, 2025 – Matrix Capital Markets Group, Inc. has advised C&J Cox Corporation and its affiliates (“Cox”) on the sale of select convenience retail assets to Anabi Oil Corporation. Headquartered in Pleasanton, California, Cox is a leading convenience retailer that operates high-quality convenience stores that serve the Tri-Valley and Lake Tahoe communities. The transaction closed on November 12th.

Cox Family Stores first opened its doors in 1976 when Carl Cox acquired his first convenience store in Dublin, California. For almost 50 years, Cox has been committed to providing excellent customer service, high quality motor fuels, well-stocked convenience stores, and extremely clean and well-maintained facilities. The transaction with Anabi included nine stores in the Tri-Valley region and three stores in the Lake Tahoe area. The convenience stores operate under the Cox Family Stores brand and sell motor fuels under the Shell, Chevron, and Valero brands. Cox will continue to own and operate two locations in the Tri-Valley region, which were not part of the transaction.

Anabi Oil Corporation is a family-owned fuel distribution and convenience retail company headquartered in Upland, California. Founded in 1991, the company operates a dynamic portfolio of gasoline, convenience retail, foodservice, and car wash locations across the United States. Anabi supplies major fuel brands, including Shell, Exxon, 76, and Sinclair, and oversees a broad network of company-operated and dealer-operated retail locations.

Anabi also owns and operates the Rebel convenience store brand, recognized for its contemporary store design, strong merchandising standards, and commitment to delivering an elevated customer experience.

“The Cox family built one of the most admired convenience store networks in Northern California, and we consider it a privilege to continue that legacy,” Sam Anabi said. “Our focus is to preserve the level of quality their customers have trusted for decades. Because these sites were already operated with such discipline and pride, the transition has been exceptionally smooth: strong teams remain in place and service continues uninterrupted. We are proud to welcome these stores into our family.”

Matrix provided merger and acquisition advisory services to Cox, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by Vance Saunders, CPA, Managing Director; Andrew LoPresti, CFA, CPA, Director; Michael Tucker, CFA, Vice President; and William Dickinson, Analyst.

Mr. Saunders commented, “Carl and his team built an exceptional business over the years. These stores are some of the highest quality assets in their markets due to Cox’s unwavering commitment to providing customers with the best experience possible. We’re honored to have had the opportunity to assist Carl and his family with this transaction. We’re also very grateful for the efforts of Don Maday of Maday Consulting in his role as project manager for Cox.”

Otto Konrad of Williams Mullen served as legal counsel for Cox. Fred Whitaker and Ashley Bolduc of Cummins & White, LLP served as legal counsel for Anabi.

by Kelly Simons

Matrix Advises Downs Energy on its Sale to Pilot Company

October 20, 2025 – Matrix Capital Markets Group, Inc. has advised Downs Energy and its affiliates (“Company”) on the sale of its cardlock, fleet card, delivered fuels, and lubricants distribution businesses to SC Fuels, a subsidiary of Pilot Travel Centers, LLC (“Pilot Company”). Headquartered in Corona, California, Downs Energy is a leading petroleum marketer that operates six high-performing cardlocks with a large fleet card customer base and a delivered fuels and lubricants distribution segment servicing commercial and municipal customers throughout Southern California.

The Company was founded in 1940 when Elvin Downs became a wholesale distributor for Standard Oil Co. in Corona, California. In 1975, Elvin’s son, John, and his wife Catherine, assumed leadership of the Company and introduced a “key lock” system for around-the-clock fuel sales at unattended sites, a precursor to today’s cardlock facilities. During the 1980s, their children, Mike and Sherry, joined the company, helping to cement the family legacy. In 1989, Downs Energy became a member of the then newly established nationwide Commercial Fueling Network (CFN), beginning a long-standing partnership that continues to this day.

Mike Downs became President of the Company in 1992, and he and Sherry continued to expand the business by opening three additional cardlock sites in the 1990s and acquired and built two additional cardlocks over the last ten years. Under their leadership, the Company also focused on further developing its delivered fuels and lubricants distribution businesses, which deliver fuels along with Phillips 66 and Petro-Canada branded lubricants across Southern California.

Matrix provided merger and acquisition advisory services to Downs Energy, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale of the Company and lease of the facilities to Pilot Company. The transaction was managed by Cedric Fortemps, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; David Corbett, CFA, Director; and Michael Corliss, Analyst.

Mr. Fortemps commented, “Over three generations, the Downs family has built one of the leading cardlock, fleet card and fuels and lubricants distribution businesses in the industry by focusing on continuous investment in their state-of-the-art cardlock facilities and best-in-class customer service. We were honored to have advised them on the sale of the Company.”

Gary Fitzpatrick and Sam Reep of Brown & Streza, LLP served as legal counsel for the Company. Matthew Jann of Glaser Weil Fink Howard Jordan & Shapiro, LLP served as legal counsel for Pilot Company.

by Kelly Simons

Matrix Advises Redwood Oil Company, Inc. on its Sale to Jacksons Food Stores, Inc.

August 20, 2025 – Matrix Capital Markets Group, Inc. has advised Redwood Oil Company, Inc. and its affiliates (the “Company”) on the sale of its convenience retail assets to Jacksons Food Stores, Inc. Headquartered in Rohnert Park, California, Redwood is a leading convenience retailer that operates 24 high-performing convenience stores throughout Northern California that offer their exceptionally successful Aztec Grill proprietary food offering.

After beginning his career at Standard Oil, Peter Van Alyea founded Redwood Oil Company in the early 1970s when he opened his first gas station in Marin County, California. The initial store’s immediate success paved the way for Peter to add two more stores later that year. In 1979, Peter partnered with Barbieri & Son, a wholesale distributor, to acquire HR Gantner’s Beacon-branded stores and two Chevron jobberships, marking the beginning of the Company’s long-lasting relationship with Chevron. In 1997, Redwood launched Aztec Grill, an in-house, authentic Mexican food offering providing fresh made-to-order options for customers, which now operates within 17 of the stores. Peter’s partner retired in the early 2000s and the wholesale business was divested, leaving Redwood as a retail-focused chain. Julie Van Alyea, Peter’s daughter and Redwood’s current CEO, joined the Company in 2004 and spearheaded efforts to modernize the Redwood and Aztec brands, embrace new technology, and expand Redwood's retail offerings to make the Company one of the West Coast’s most successful convenience retailers.

Matrix provided merger and acquisition advisory services to Redwood, 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; Andrew LoPresti, CFA, CPA, Director; and Michael Corliss, Analyst.

Julie Van Alyea, CEO of Redwood commented, “For 53 years, the dedication of our people has been the foundation of our success. As a family business, finding the right steward for the company we built was our top priority, and we are confident that Jacksons Food Stores will carry that legacy forward. We also want to thank the Matrix and Faegre teams for their invaluable support and guidance throughout this journey.”

Mr. Fortemps added, “Over its more than 50 year history, the Van Alyea family built an incredible convenience retail business with a very unique and successful prepared food program in Aztec Grill. We were honored to advise the family on the sale.”

Jeff Brown of Faegre Drinker Biddle & Reath LLP served as legal counsel for the Company.

by Kelly Simons

Matrix Advises Giant Eagle, Inc. on the Sale of its GetGo Café + Market Convenience Retail, WetGo Car Wash, & Wholesale Motor Fuels Distribution Businesses

July 8, 2025 – Matrix Capital Markets Group, Inc. has advised Giant Eagle, Inc. and its affiliates (the “Company”) on the sale of its GetGo Café + Market convenience retail, WetGo Car Wash, and wholesale motor fuels distribution businesses to two separate buyers. Collectively, these two transactions represent a complete exit for the Company from these operations, allowing Giant Eagle to focus on its core supermarket and pharmacy businesses.

As per previous announcements, Giant Eagle has sold its portfolio of nearly 270 GetGo Café + Market convenience stores and WetGo car washes located across Pennsylvania, Maryland, Ohio, West Virginia, and Indiana to Alimentation Couche-Tard, Inc., the parent company of Circle K.

Giant Eagle opened the first GetGo location in 2003, and over the next two decades grew the banner into an innovative, food-first convenience store experience. As part of the GetGo transaction, Giant Eagle and Couche-Tard have agreed to maintain and partner on the Company’s widely popular myPerks loyalty program.

In a separate transaction, Giant Eagle has also sold its wholesale motor fuels distribution business to Cary Oil Company, Inc. The Company’s wholesale motor fuels business distributes BP, Amoco, Phillips 66, Conoco, and Marathon branded motor fuels to more than 80 contract dealer supply accounts in Indiana, Illinois, and Kentucky. Giant Eagle began distributing branded wholesale motor fuels in December 2018 when it acquired Ricker Oil Company, Inc., and given the legacy of this business, the majority of the Company’s dealer supply accounts are concentrated in and around the greater Indianapolis, Indiana metropolitan area.

Matrix provided merger and acquisition advisory services to Giant Eagle, which included valuation advisory, conducting a confidential, structured sale process, and negotiation of the transactions. The transactions were managed by Stephen Lynch, CPA, CFA, Managing Director; Spencer Cavalier, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; Kyle Tipping, CFA, Vice President; and James Mickelinc, CPA, Senior Associate.

David Burnworth, CFO of Giant Eagle, commented, “This was a highly complex transaction, and the team from Matrix proved to be an exceptional advisor every step of the way. Their ability to manage a dynamic and fluid process while providing thoughtful, strategic guidance was key to achieving a successful result for Giant Eagle.”

“Over the years, it has been exciting to not only watch Giant Eagle grow its GetGo, WetGo, and wholesale motor fuels distribution businesses but to also be part of the story by advising Giant Eagle on multiple occasions,” said Mr. Lynch. “We have always admired Giant Eagle’s incredible operating prowess across all of its business lines and are very grateful to have been given the opportunity to advise them on this series of transactions.”

Weil, Gotshal & Manges LLP and Winthrop & Weinstine, P.A. served as legal counsel for Giant Eagle with respect to the transactions with Couche-Tard and Cary Oil, respectively.

by Kelly Simons

Matrix Advises on the Sale of Cary Oil Company’s Breeze Thru Markets to Sampson-Bladen Oil Co., Inc.

June 23, 2025 – Matrix Capital Markets Group, Inc. announces that it has advised Cary Oil Co., Inc. and its affiliates on the sale of its Breeze Thru Markets convenience retail business to Sampson-Bladen Oil Co., Inc. Following the divestment of its chain of 15 Breeze Thru branded convenience stores, Cary will continue to operate its extensive wholesale fuels distribution business that supplies approximately 1,000 dealers across 20+ states and delivers almost 1 billion gallons of fuel annually.

Cary Oil Company was founded in 1959 by Harry Stephenson, operating a single tankwagon delivering home heating oil throughout the town of Cary, North Carolina. Over the next several decades, Cary began offering a full slate of branded motor fuels and further expanded its geographic reach across the southeastern United States. As its wholesale distribution network continued to extend into the southwest and parts of the midwestern U.S., Cary also began operating convenience stores in its home state of North Carolina, branding these locations with its proprietary Breeze Thru Markets imaging. The Breeze Thru network consisted of 15 stores, selling BP, 76, and Amoco branded fuels and served many local communities throughout North Carolina.

Matrix provided merger and acquisition advisory services to Cary, which included valuation advisory, marketing the businesses through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by John Duni, CFA, CPA, Director; Spencer Cavalier, CFA, ASA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; and Michael Tucker, CFA, Senior Associate.

Craig Stephenson, CEO of Cary’s holding company, COC Properties, Inc., commented, “The Matrix team demonstrated exceptional professionalism and expertise throughout our business unit divestiture process. Their thorough market analysis and deep understanding of buyer expectations helped us position our business effectively, resulting in strong interest from qualified buyers. The team's commitment to process excellence, clear communication, and expert management of all transaction aspects made them invaluable partners in achieving our strategic objectives.”

Messrs. Cavalier and Duni added, “We are grateful for our long-term relationship with Cary Oil and the Stephenson family, and we are honored to have worked with their talented management team to consummate this important transaction.”

“The Stephenson Family has built a very well-known and successful family business, and we are honored that they now trust our family to carry on this one small part of their legacy. We have engaged with Matrix in several acquisitions, and their knowledge of our industry really streamlines the process,” commented Sampson-Bladen Oil Co. President, John Litton Clark.

Sampson-Bladen Oil Company, Inc. was founded in 1936 and now, as a fourth-generation, family-owned enterprise, has expanded into convenience store operations, quick serve restaurants, car washes, a wholesale fuel division, and a lubricants division. With the purchase of the Breeze Thru stores, Sampson-Bladen Oil Company’s store count has increased to 125 stores covering North Carolina from Duck to Blowing Rock.

Chad McCullen, Stephen Brown, and Lisa Leeaphorn of Young Moore and Henderson, P.A. served as legal counsel for Cary.

by Kelly Simons

Matrix Advises on the Sale of National Petroleum to Poppy Markets, LLC

May 22, 2025 – Matrix Capital Markets Group, Inc. announces that it has advised Engineer’s Associates, Inc. and its affiliates, d/b/a National Petroleum, on the sale of its petroleum marketing and convenience retail business to Poppy Markets, LLC, based in Union City, California. Headquartered in Newark, California, National operates a chain of 11 convenience stores and retail fuels outlets and a wholesale fuels distribution business that supplies over 100 dealers.

National Petroleum was founded when partners Sanjiv Patel and Nick Patel acquired a 76 branded gas station with a three-bay repair shop in Berkeley, California in 2004. Over the next several years, the company continued to build its portfolio of company operated gas stations with convenience stores in the San Franciso Bay area. In 2013, National expanded into wholesale fuels distribution and launched its proprietary National fuel brand at both company operated and dealer sites. The National brand provides an attractive forecourt imaging package to compete with major brands while offering a significant price advantage over branded fuels. National also markets fuels under the Valero, Chevron, Shell, Exxon, and Mobil brands. At the time of the sale, National had grown to nearly 100 million gallons of fuel sales across its company operated and wholesale network, the vast majority of which was unbranded.

Matrix provided merger and acquisition advisory services to National, which included valuation advisory, marketing the businesses through a confidential, structured sale process, and negotiation of the transaction. The transaction was managed by Vance Saunders, CPA, Managing Director; James Mickelinc, Senior Associate; and Michael Corliss, Analyst.

Sanjiv Patel, CEO of National, commented, “I truly couldn’t have found a better advisor to guide us through this process. As this was our first time navigating a transaction of this scale, their support, and genuine handholding, every step of the way made a world of difference. Their attention to detail, particularly in the early stages of data gathering, felt intense at times, but as we moved forward, it became clear why they were so thorough. Both Vance and James are absolute experts at what they do.”

Mr. Saunders added, “Nick and Sanjiv have built an exceptional business over the last 20 years. We are grateful to have been selected to advise them on this transaction, and we wish them all the best in their future endeavors.”

Fred Whitaker and Ashley Bolduc of Cummins & White, LLP served as legal counsel for National.

by Kelly Simons

Matrix Advises Big Mike’s Gas N Go, LLC on its Sale to Good Oil Company, Inc.

May 8, 2025 – Matrix Capital Markets Group, Inc. has advised Big Mike’s Gas N Go, LLC (“Big Mike’s”) on the sale of its convenience retail assets to Good Oil Company, Inc. Headquartered in Lebanon, Ohio, Big Mike’s is a niche convenience retailer that operates high-performing convenience stores in and around Dayton and Cincinnati.

Big Mike’s was founded in 2008 when Mike Schueler, President and CEO of The Schueler Group, a leading real estate development and construction firm, purchased his first two convenience stores in Troy and Tipp City, Ohio.  With a background in commercial development and a keen eye for strategic real estate, Mike Schueler leveraged his development expertise to build a high-performing chain of stores that focused on exceptional customer service. Over time, Mike Schueler built one of the more successful niche convenience retail companies in southwest Ohio through a strong commitment to friendly staff, expansive retail offerings, and clean, modern stores.

Matrix provided merger and acquisition advisory services to Big Mike’s, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale. The transaction was managed by Andrew LoPresti, CFA, CPA, Director; Spencer Cavalier, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; Nathan Wah, CPA, Senior Associate; and Michael Corliss, Analyst.

Mike Schueler, President of Big Mike’s commented, “Matrix was an invaluable resource in identifying potential buyers of Big Mike’s and an attentive and effective partner in finalizing the sale to Good Oil Company. We welcome Good Oil to southwest Ohio!”

Mr. LoPresti added, “Mike’s dedication to his company and care for his employees were inspiring.  It was a privilege to be selected to advise Big Mike’s on this transaction.  We wish them the best of luck in their future endeavors.”

Robert D. Ballinger and Patrick Martin of Coolidge Wall Co., L.P.A. served as legal counsel for Big Mike’s.

by Kelly Simons