Matrix Celebrates Record Year in 2015, Announces Expansion of Industry Groups and Promotions

RICHMOND, VA – April 13, 2016 – Matrix Capital Markets Group, Inc. ("Matrix") is pleased to announce that it successfully advised on 25 merger and acquisition transactions in 2015. We would like to thank all of our clients for the privilege of working with them this past year and appreciate the trust they placed in us as their advisor.

The transactions included sell-side and buy-side advisory on company sales, recapitalizations and corporate divestitures for family owned, private equity owned and publicly traded companies.   Our 21 investment banking professionals, who serve clients in the Downstream Energy & Retail, Healthcare, Consumer & Industrial Products and Building Products industries are passionate about helping our clients achieve the best result possible and are proud to have advised on transactions totaling over $1.6 billion in 2015.

In addition, Matrix would like to recognize certain individuals whose continued contributions to the firm and the clients we serve resulted in recent promotions.

Sean Dooley, CFA, ASA is a member of Matrix's Downstream Energy & Retail Group and has been promoted to Vice President.  Since joining the firm in 2010, Mr. Dooley has been involved in over twenty successful transactions.  He is a holder of the Chartered Financial Analyst designation and member of the CFA Institute. He received a B.S.B.A. with a concentration in Finance from East Carolina University.

Christian Klawunder has been a member of Matrix’s Downstream Energy & Retail Group since joining the firm in 2014 and has been promoted to Associate.  Mr. Klawunder was previously an Analyst with Ewing Bemiss & Co.  He received a B.B.A with a concentration in both accounting and finance, summa cum laude from Loyola University Maryland.

Matrix’s Downstream Energy & Retail Group and Healthcare Group have also added new team members.

Carlton Zesch, Analyst, who has been with Matrix since 2015 and has proven to be a valuable resource to multiple industry verticals within the firm, has joined Matrix’s Downstream Energy & Retail Group.  He is a graduate of the University of Richmond’s E. Claiborne Robins School of Business where he received a B.S. in Business Administration with a concentration in Finance.

John Ellison, CFA, Associate, is now a member of Matrix’s Healthcare Group.  Prior to joining Matrix in 2015, Mr. Ellison was an Associate with Ewing Bemiss & Company and an Equity Research Associate in the Engineering & Construction and Energy Infrastructure Group with BB&T Capital Markets.  He graduated from the College of William & Mary with a B.A. in Finance and a second major in Economics.  He is a CFA Charterholder and member of the CFA Institute.

About Matrix Capital Markets Group, Inc.
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 Chicago, IL. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private equity owned and publicly traded companies, including company sales, recapitalizations, asset divestitures, corporate recovery, management buyouts, capital raises of debt & equity, corporate valuations and fairness opinions. Matrix has served clients in a wide range of industries, including building products, business services, consumer products, downstream energy & retail, healthcare, industrial products and lumber. For additional information or to contact our team members, please visit www.matrixcmg.com.

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


Matrix to Moderate SIGMA 2016 Spring Convention Opening General Session Panel

SIGMA Logo 2

RICHMOND, VA - April 7, 2016 - SIGMA: America's Leading Fuel Marketers and Matrix Capital Markets Group, Inc. ("Matrix") are pleased to announce that Matrix will moderate the Opening General Session at the SIGMA 2016 Spring Convention, May 10-13, in Scottsdale, AZ, "Using Alternative Capital to Grow Your Company - Successful Entrepreneurs Share Their Experiences: Sam Susser, Joe Topper, and Hank Heithaus".

Some of the industry's most successful owners have chosen to employ alternative types of capital to grow their companies. Private equity, mezzanine debt, sale-leaseback, and asset based loan structures can be alternative avenues of capital to explore beyond owner's equity and traditional senior bank debt. Originated, structured and presented by Matrix's Thomas Kelso and Spencer Cavalier, this interactive panel will ask how leaders evaluate these forms of alternative capital and ultimately how these decisions are made to move to alternative capital to fuel company growth.

Panel participants in this high-level presentation include Hank Heithaus, CEO, Empire Petroleum Partners GP, LLC; Sam Susser, President, Susser Holdings II, LP; and Joseph Topper, Member of the Board of Directors for CST Brands and General Partner, CrossAmerica Partners, L.P. The Panel will be moderated by Thomas Kelso, Managing Director & Principal, Head of Matrix's Downstream Energy & Retail Group.

Hank J. Heithaus, joined Empire Petroleum in August, 2013 and has full P&L responsibility and directs all business operations and staff functions of the company. Mr. Heithaus, who has over 40 years of experience in the petroleum industry, plays an integral role in driving a more aggressive merger and acquisition agenda, thus enabling Empire to take more market share in the areas it serves, and develop business opportunities that will take them into new markets.

Sam L. Susser is the President of Susser Holdings II, L.P. From 1988 to 2014, Mr. Susser led the growth of Susser Holdings Corporation from a five store operation to a $6.7 billion enterprise that was a member of the Fortune 500 and employed 12,000 team members. The business was sold to ETP on August 29, 2014, and Mr. Susser continued to serve as Chairman of the Board until May 2015. Prior to founding the Southguard Corporation (predecessor to Susser Holdings) in 1988, Mr. Susser spent 1985-1987 with Salomon Brothers Inc in New York City and in Dallas in the corporate finance division and in the mergers and acquisitions group.

Joseph V. Topper currently runs the Topper Family office. He retired from CrossAmerica Partners in September 2015. Previous to selling Lehigh Gas Partners GP to CST Brands, he was the CEO and Chairman of the Board of Lehigh Gas Partners, a company taken public in October 2012. Mr. Topper serves as a member of the Board of Directors of CrossAmerica GP LLC, member of the Board of CST Brands, as Vice Chairman Board of Trustees for Villanova University and as a director of Lehigh Valley PBS.

Thomas E. Kelso is Head of Matrix Capital Markets Group's Downstream Energy & Retail Group and directs the firm's Baltimore office. He created the Downstream Energy Group in 1997 to provide financial advisory services to companies engaged in the petroleum marketing and convenience store industries. In addition, he manages the firm's Restructuring, Reorganization and Bankruptcy practice. He is a member of the Society of Independent Gasoline Marketers of America (SIGMA), the National Association of Convenience Stores (NACS), the NACS Hunter Club and the Turnaround Management Association (TMA). Mr. Kelso currently serves as Chairman of the Maryland Stadium Authority and as Vice Chair & Director of the Foundation for the Preservation of Government House of Maryland, Inc.

About SIGMA
Founded in 1958 as the Society of Independent Gasoline Marketers of America (SIGMA), SIGMA has become a fixture in the motor fuel marketing industry. After fifty years of leadership, SIGMA is the national trade association representing the most successful, progressive, and innovative fuel marketers and chain retailers in the United States. From the outset, the association has served to further the interests of both the branded and unbranded segment of the industry while providing information and services to members. SIGMA's approximately 260 corporate members command nearly 50 percent of the petroleum retail market, selling approximately 80 billion gallons of motor fuel each year. These member companies operate throughout the United States and Canada.

Regular membership in SIGMA is available to companies involved in motor fuel retailing or wholesaling that are not owned by a refiner. In addition, Associate membership is available to fuel supplier companies and to companies that offer financial services, fuel transport services, and fleet card services. SIGMA member companies have long been recognized, both within and outside the industry, as the most aggressive, innovative, and price competitive segment of petroleum marketers. For additional information, please visit www.sigma.org.

 


Matrix’s Healthcare Group Announces the Successful Sale of Next Generation Children’s Centers

RICHMOND, VAFebruary 23, 2016 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of Next Generation Children’s Centers (“NGCC” or the “Company”) to Cadence Education, Inc. (“Cadence”), a Scottsdale, AZ based portfolio company of Audax Group, Inc. Matrix served as exclusive financial advisor to NGCC. The transaction was led by David Keys, Head of Matrix’s Healthcare Group, along with David Endom and Brady Hill.

Next Generation Children’s Centers is a leading provider of early education and childcare services in the Commonwealth of Massachusetts. Founded by Donna Kelleher in 1993, the Company has grown from a single location to ten locations across the Boston metropolitan area and has an enrollment of more than 2,000 students. The Company has established a premier reputation for the quality of its educational programs and the depth of care it provides to students and families.

“It was an absolute pleasure to work with Donna and her team,” said Keys. “Donna’s focus on finding the right company to provide continuity to the NGCC educators and the families they serve was of primary importance and Cadence’s focus on maintaining the brand identity of acquired schools was an excellent fit. We are excited to watch the continued growth of Next Generation within the Cadence Education family of schools.”

“Matrix’s professionalism resulted in a positive outcome for all parties,” said Kelleher. “David, David, and Brady were focused on understanding our objectives and providing alternatives, gave sound advice, and did an outstanding job managing the process.”

Cadence Education is one of the ten largest providers of childcare services in the United States with a platform of more than 150 learning centers. The acquisition of NGCC marks Cadence’s entry into the Massachusetts market and will significantly expand Cadence’s presence in the Northeast.

Mintz, Levin, Cohn, Ferris, Glovsky, and Popeo acted as legal advisor to NGCC on the transaction. Cadence was represented by Goulston & Storrs PC.

 

About Matrix’s Healthcare Group

Matrix’s Healthcare Group was founded to provide differentiated advisory services to lower middle market companies in the sectors of Health, Wellness, and Education. Our professionals have extensive experience as advisors, investors, and operators within these markets and understand the nuances and regulation that influence performance and market positioning. Team members have executed more than 25 advisory transactions with an aggregate deal value in excess of $2.5 billion. Since launching in December 2014, the Healthcare Group has closed four transactions, each of which were in its core sectors.

About Matrix Capital Markets Group, Inc.

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 Chicago, IL. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies, including company sales, recapitalizations, asset divestitures, corporate recovery, management buyouts, capital raises of debt & equity, corporate valuations and fairness opinions. Matrix has served clients in a wide range of industries, including building products, business services, consumer products, downstream energy & retail, healthcare, education, industrial products, lumber and media & communications. For additional information or to contact our team members, please visit www.matrixcmg.com.

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

 

 


Matrix's Healthcare Group Update

Matrix Capital Markets Group, Inc. established its Healthcare Group in late 2014 and has gained traction throughout 2015 and into 2016 by advising on several engagements in the laboratory, behavioral health, wellness, and education sectors.

Across the Healthcare Group’s assignments in 2015 strategic acquirers and financial sponsor-backed companies were the most aggressive buyers. The desire to complete a specific strategic niche, whether filling in a geography or augmenting a service offering, drove acquisition activity. The team’s dialogue with current and prospective clients indicates that strategic consolidation will likely be a continuing trend in 2016.

Within certain sectors, particularly healthcare data informatics, a desire to find partners to help achieve greater scale is driving activity. These partners are either strategic acquirers with existing relationships or financial sponsors capable of providing capital and expertise. Within sectors such as laboratory services, operating efficiencies in the face of changing reimbursement is a tangible driver. The broad behavioral health sector continues to be active, supported by the tailwinds of expanding coverage and the consolidation of a highly fragmented sector by both strategic buyers as well as sponsor-backed management teams with the ability to act like a strategic.

Matrix provides expert advice for mergers, acquisitions, divestitures, and capital raises (debt and equity). Matrix’s processes are tailored to each client’s situation and have consistently resulted in optimal outcomes, including providing maximum value and delivering a high degree of certainty of closing. Our detailed understanding of strategic buyers is augmented by a database of over 2,000 financial acquirers. When raising capital, our extensive knowledge of debt and equity capital providers results in our clients receiving the best terms available.

David Keys, Managing Director, serves as Head of the Healthcare Group. David Endom, Vice President, brings operating experience from the education sector along with prior healthcare M&A experience. Braden Hill, Senior Analyst, has worked with the team since inception. Collectively, the Group has more than two decades of experience in M&A and has executed transactions that, in aggregate, exceed more than $2.5 billion within the health, wellness, and education sectors. The Healthcare Group has advised companies on strategic alternatives across the following sectors:

Healthcare Services:
- Behavioral Health
- Clinical and Forensic Laboratories
- Home Healthcare and Hospice
- Physician Practices
- Contract Research Organizations
- Clinical, Allied & Lab Staffing
- Specialty & Institutional Pharmacy

Healthcare Information Technology:
- Laboratory Information Systems
- Practice Management Systems
- Revenue Cycle Management

Medical Devices:
ž- Class I, II, and III Devices
- Contract Manufacturing
- Institutional and Pharmacy Automation
- Medical device preventative maintenance and repair (ISO and multi-vendor)

 

Contact:

David M. Keys, CFA ž Managing Director, Head of Healthcare Group
804-591-2042 ž dkeys@matrixcmg.com

David H. Endom, Vice President
ž 804-591-2035 ž dendom@matrixcmg.com

Braden R. Hill, Senior Analyst
ž 804-591-2062 ž bhill@matrixcmg.com

Carlton C. Zesch, Analyst
ž 804-591-2046 ž czesch@matrixcmg.com

 

 

 

 

 

 

 

 

 

 

 

 

 


Matrix’s Downstream Energy & Retail Group Advises on Eighteen M&A Transactions with Combined Transaction Value of Over $1.5 Billion in 2015

RICHMOND, VA – February 2, 2016 – The Downstream Energy & Retail Group of Matrix Capital Markets Group, Inc. (“DER Group”) continued to be the most active transactional advisory services provider to downstream energy and convenience retailing companies in 2015, successfully advising on eighteen (18) M&A transactions that closed during the year. The clients the DER Group advised in 2015 included public companies, multi-generational privately-held companies, and a Foundation, and many of the transactions involved iconic companies and/or industry leaders, including; Warren Equities, Tedeschi Food Shops, Pester Marketing Company, Erickson Oil Products, Biscayne Petroleum and Everglades Petroleum, and Kocolene Marketing. There were seventeen (17) different buyers in these transactions, including Global Partners LP (NYSE:GLP), Petroleum Marketing Group, 7-Eleven, Inc., CrossAmerica Partners LP (NYSE:CAPL), TravelCenters of America LLC (NYSE:TA), Sunoco LP (NYSE:SUN), Quality Oil Company and World Fuel Services, Inc. (NYSE:INT). In addition to these transactions, the twelve (12) investment bankers in the DER Group, who are solely dedicated to advising companies in these industries, managed a number of other confidential valuation and corporate advisory assignments.

Thomas Kelso, Managing Director & Head of Matrix’s Downstream Energy and Retail Group commented, “We congratulate all of our clients on their successes which, in many cases, represent the work of multiple generations. We thank them for the confidence and trust they had in our DER Group when they chose to exit the industry and we wish them all well in their next endeavors.”

We’re Known By The Work We Do.
Contact:
Tom Kelso, Managing Director, Head of Downstream Energy & Retail Group | 667.217.3330 | tkelso@matrixcmg.com
Richmond | Baltimore | Chicago


Matrix's Media & Communications Group Update

Matrix Capital Markets Group, Inc. established its Media & Communications Group in late 2014. Throughout 2015, Matrix’s Media & Communications team has advised on several transactions in the broadcasting, outdoor advertising and fiber-to-the-premises (FTTP / FTTH) sectors.  At the start of 2016, the team looks forward to another successful year advising its clients.

Many strategic buyers in the media and communications industries continue to consolidate certain sectors. In 2016, the consolidators will continue making acquisitions to gain economies of scale. As a result, many middle market operators are electing to sell entirely, or divest non-core divisions or assets. Other companies are raising additional capital to invest in growth opportunities.

Matrix can provide expert advice for mergers, acquisitions, divestitures, as well as capital raises (debt and equity). Matrix’s proactive and broad-based sale process maximizes value, as well as delivers a high degree of certainty of closing. Our detailed understanding of strategic buyers is augmented by a database of over 2,000 financial acquirers. When raising capital, our extensive knowledge of debt and equity capital providers provides our clients with the best terms available.

Michael McHugh, Managing Director, serves as Head of the Media & Communications Group. He has completed over 100 transactions worth over $2 billion within the media and communications industries and has advised companies on strategic alternatives across the following sectors:

Media:
- Broadcasting
- Outdoor/Out-of-Home Advertising
- Digital Media
- Movie Theaters/Entertainment
- Content & Programming Providers

Communications:ž
- Cable Television
- Telecommunications
- Fiber-to-the-premises (FTTP/FTTH)
- Broadband/Fiber Networks
- Towers/Wireless Back-Haul Systems

 

Please contact:

Michael S. McHugh, Managing Director, Head of Media & Communications Group
804-591-2041 ž mmchugh@matrixcmg.com

John Ellison, Associate
804-591-2036 ž jellison@matrixcmg.com

 

About Matrix’s Media & Communications Group
Matrix’s Media & Communications Group is a leading provider of transactional advisory services to middle market companies in the media, entertainment, and telecommunications sectors.  Team members draw upon long term industry experience to provide merger and acquisition expertise, debt and equity capital raises, corporate restructurings, corporate valuations, and strategic planning engagements. Expertise spans many sectors within this industry including, Media: broadcasting (radio and TV), outdoor (billboards, out-of-home, digital display), digital media, ad tech, print media, movie theaters, entertainment, and content providers, and Communications: cable television, broadband, telecommunications (wireline and wireless), M2M, fiber networks (FTTH, FTTP, long haul and regional), towers and data centers.

About Matrix Capital Markets Group, Inc.
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 Chicago, IL. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies, including sell-side M&A advisory, recapitalizations, asset divestitures, corporate valuations, corporate recovery, buy-side M&A advisory, capital raises of debt & equity, management buyouts, corporate advisory and fairness opinions.  Matrix has served clients in a wide range of industries, including building products, business services, consumer products, downstream energy & retail, healthcare, industrial products, lumber and media & communications.  For additional information or to contact our team members, please visit www.matrixcmg.com.

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

 

 


Matrix Announces the Successful Sale of Alta East, Inc.’s Fuels Distribution Business

RICHMOND, VA - December 16, 2015 - Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful closing on the sale of Alta East, Inc. and certain related entities’ (collectively the “Company”) fuels distribution business to a wholly owned subsidiary of Sunoco LP (NYSE: SUN). The Company, headquartered in Middletown, NY, owns or leases 30 convenience stores that it leases to dealers and supplies fuels to and also supplies fuels to additional dealer owned and operated stores primarily in New York from the greater New York City metropolitan area to just north of Lake George. The Company distributes approximately 55 million gallons of Sunoco, Mobil, Valero, and unbranded motor fuels annually. The Company’s two non-operating surplus properties were also included as part of the transaction.

Alta East, Inc. is 100% owned by D.W. Porto. After taking the reins of the Company in 1990, Mr. Porto grew the business, through both acquisitions and organic growth, into an established, large distribution business with long-standing dealer relationships. Over just the last five years, the Company added twenty-three dealer sites to its portfolio, including five stores in upstate New York from a Nice N Easy franchisee in 2013.

Matrix provided merger and acquisition advisory services to the Company, which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Cedric Fortemps, Managing Director and Thomas Kelso, Managing Director and Head of the Downstream Energy & Retail Team. Stephen Lynch, Senior Associate also advised on the transaction.

Mr. Porto commented, “I greatly appreciate the service that Matrix provided finding the best purchaser for the motor fuel portion of my business. I chose Matrix because of their expertise in completing transactions in the fuels distribution space. I would recommend Tom, Cedric and Matrix to anyone ready to sell their business.”

Mr. Fortemps commented, “Mr. Porto has built a sizeable and attractive distribution business in New York and it was a pleasure working with him and his team on a successful sale.” Mr. Kelso added, “I have known D.W. for nearly twenty-five years and it is an honor to have been able to advise him in exiting the business.”

Al Alfano and Doug Mitchell of Bassman, Mitchell & Alfano, Chtd. served as legal counsel for the Company.

 

 


Matrix Announces the Successful Sale of CMA Supply Co., Inc.

RICHMOND, VA – December 9, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of CMA Supply Co., Inc. (“CMA Supply” or the “Company”) to Carter-Waters, LLC, a Kansas City, Missouri based portfolio company of Merit Capital Partners and Aiglon Capital Management, LLC. The acquisition forms a seventeen location platform across Indiana, Ohio, Kentucky, Missouri, Kansas, and Illinois. Matrix served as exclusive advisor to CMA Supply and the transaction was led by Andrew Chidester and Braden Hill.

CMA Supply is a regional distributor of concrete and masonry products and accessories to professional contractors in the residential, commercial, and industrial end-markets. The Company was founded by William Updike in June of 1978 in Indianapolis, Indiana and has grown to six distribution facilities and two rebar and fabrication facilities across Indiana, Kentucky, and Ohio. The Company has a premier reputation for service and product selection within the region.

Carter-Waters, LLC provides construction materials and rental equipment throughout the Midwest. The Company was founded in 1922 and was acquired by Merit Capital Partners and Aiglon Capital Management in 2014.

Bill Updike, President of CMA Supply commented, “This was a complex assignment due to the number of entities involved, the decentralized nature of our operations and the diversity of goals for the shareholder base. The Matrix team overcame every obstacle and guided us to a successful transaction for all concerned. I would recommend Matrix to any ownership group considering a transition.”

Faegre Baker Daniels LLP acted as legal advisor to CMA Supply on the transaction. Carter-Waters was represented by Reinhart Boerner Van Deuren s.c.

 

 

 


Matrix Announces the Successful Sale of Biscayne Petroleum, LLC and Everglades Petroleum, LLC

RICHMOND, VA – November 10, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful closing on the sale of Biscayne Petroleum, LLC and Everglades Petroleum, LLC (collectively the “Company”) to 7-Eleven, Inc. and its wholly owned subsidiary, SEI Fuel Services, Inc. The Company, headquartered in Miami, FL, owns and operates convenience stores and supplies fuels throughout primarily Miami, Dade, Palm Beach and Broward counties. The Company’s assets, all of which are being sold as part of the transaction, consist of a mix of 102 high-volume company operated, commission marketer, lessee dealer and supply only stores, with the Company owning the vast majority of the real estate at the stores.

Both Biscayne Petroleum and Everglades Petroleum were formed in 2011 for the purpose of acquiring convenience stores and gas stations that were being sold by ExxonMobil Corporation. The Company is led by Carlos Fontecilla and Arturo Zizold.  Mr. Fontecilla, whose entry into the industry began with the acquisition of a single gasoline service station in Miami in the late 1980’s, and Mr. Zizold, together managed a separate company in the industry at the time of the 2011 acquisitions.  They both recognized the tremendous opportunity that the stores being sold by ExxonMobil had.  Through those initial acquisitions and several smaller ones over the years, the Company achieved significant scale and market share within its markets.

Matrix provided merger and acquisition advisory services to the Company, which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Cedric Fortemps, Managing Director and Thomas Kelso, Managing Director and Head of the Downstream Energy & Retail Team. Vance Saunders, Director and Stephen Lynch, Senior Associate also advised on the transaction.

Mr. Fontecilla commented, “Matrix’s guidance and professionalism was extremely helpful in the parties achieving a positive outcome. Working with Tom Kelso, Cedric Fortemps and their team was instrumental in seeing this transaction through to the end.”

“We are very pleased to have worked with Cedric, Tom, Vance and Stephen on this transaction,” said Mr. Zizold, the Company’s Chief Executive Officer. “Having to sell our company was a difficult decision. Yet, Matrix’s advisory work from start to finish was outstanding. We are proud of all that has been accomplished with their support, and from our employees and our dealer partners. We also are pleased to have 7-Eleven and SEI Fuels assume ownership of our sites.”

Mr. Fortemps commented, “We are honored to have advised Arturo and Carlos on this transaction. They have built a remarkable company in a very unique market and it was a pleasure working with them to achieve their goals and to ensure that its legacy, dealers and customers would be taken care of after their exit.” Mr. Kelso added, “While these were excellent assets when they were acquired from Exxon, Arturo and Carlos did a tremendous job solidifying and improving the performance in a very short period of time, which significantly improved their value.”

David Yates and Fernando Alonso of Hunton & Williams LLP served as legal counsel for Biscayne Petroleum, LLC and Everglades Petroleum, LLC.

 


Matrix Capital Markets Group, Inc.’s Healthcare Team Advises Safe Foods International Holdings, LLC on its Sale to Laboratory Corporation of America® Holdings

RICHMOND, VA – November 6, 2015 - Matrix Capital Markets Group, Inc. (Matrix) announces the successful sale of Safe Foods International Holdings, LLC (SFIH) to Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH). Matrix served as exclusive financial advisor to SFIH. The transaction was led by David Keys, Head of Matrix’s Healthcare Team, and David Endom, who joined Matrix to help launch the Healthcare Team at the beginning of 2015. Brady Hill also assisted on the transaction.

SFIH was formed to create a contract research organization focused on the full spectrum of services required by food, beverage and nutrition companies. SFIH is involved from product development through scaling production, while also providing product integrity testing.

“The Matrix team provided us with first rate representation and advice throughout the process,” said Johannes Burlin, former president of SFIH. “Their knowledge of the industry and process combined with responsiveness and dedication was invaluable.”

LabCorp released the following regarding the transaction:

LabCorp Acquires Safe Foods International Holdings
Transaction Expands Capabilities in Food and Beverage product-development and product-integrity

BURLINGTON, N.C. - Laboratory Corporation of America® Holdings (LabCorp®) (NYSE: LH) today announced the acquisition of Safe Foods International Holdings, LLC (SFIH) and its two operating companies, International Food Network (IFN) and The National Food Laboratory (The NFL). With the addition of IFN and The NFL, LabCorp now offers an expanded range of industry-leading services to the global food, beverage and nutrition industries through Covance’s Nutritional Chemistry and Food Safety business. Terms of the transaction were not disclosed.

“We identified nutritional chemistry and food safety as an exciting growth opportunity for our company immediately after the acquisition,” said David P. King, chairman and chief executive officer of LabCorp. “International Food Network and The National Food Laboratory represent our first major expansion in this important area, and we are delighted that these high-quality companies and their outstanding teams are joining our company. With this acquisition, we extend our capabilities to offer a full range of product-development and product-integrity services to food and beverage manufacturers and retailers, industry organizations, and academic institutions.”

“This was the right time, and the right partner, for our business to become part of a larger organization,” said Johannes Burlin, president of SFIH. “We are excited to join Covance, and we look forward to the opportunities our combination will create for customers as we expand our global business.”

“These two companies are recognized leaders in the industry, particularly their product-development solutions,” said Jon Meltzer, LabCorp’s senior vice president for corporate strategy. “We look forward to combining the capabilities of IFN and The NFL with Covance’s industry-leading nutritional analysis, contaminant and microbiology testing services. Supported by our enterprise expertise in logistics, molecular testing, data, analytics and contract research, we will continue to expand our capabilities to provide a truly differentiated offering to this vital industry.”

About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500 company, is the world’s leading healthcare diagnostics company, providing comprehensive clinical laboratory services through LabCorp Diagnostics, and end-to-end drug development support through Covance Drug Development. LabCorp is a pioneer in commercializing new diagnostic technologies and is improving people’s health by delivering the combination of world-class diagnostics, drug development and knowledge services. With combined revenue pro forma for the acquisition of Covance in excess of $8.5 billion in 2014 and more than 48,000 employees in over 60 countries, LabCorp offers innovative solutions to healthcare stakeholders. LabCorp clients include physicians, patients and consumers, biopharmaceutical companies, government agencies, managed care organizations, hospitals, and clinical labs.  To learn more about Covance Drug Development, visit www.covance.com.  To learn more about LabCorp and LabCorp Diagnostics, visit www.labcorp.com.

This press release contains forward-looking statements including with respect to estimated 2015 guidance and the impact of various factors on operating results. Each of the forward-looking statements is subject to change based on various important factors, including without limitation, competitive actions in the marketplace, adverse actions of governmental and other third-party payers and the results from the Company’s acquisition of Covance. Actual results could differ materially from those suggested by these forward-looking statements. Further information on potential factors that could affect LabCorp’s operating and financial results is included in the Company’s Form 10-K for the year ended December 31, 2014, and the Company’s Form 10-Q for the quarter ended June 30, 2015, including in each case under the heading risk factors, and in the Company’s other filings with the SEC, as well as in the risk factors included in Covance’s filings with the SEC. The information in this press release should be read in conjunction with a review of the Company’s filings with the SEC including the information in the Company’s Form 10-K for the year ended December 31, 2014, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

 


Matrix Announces the Successful Sale of CrossAmerica Partners LP's Fuels Transportation, Heating Oil & Tank Wagon Commercial Fuels Businesses

RICHMOND, VA - November 4, 2015 - Matrix Capital Markets Group, Inc. ("Matrix") announces the successful closing on the sale of the fuels transportation, residential heating oil and tank wagon commercial fuels businesses owned by CrossAmerica Partners LP (the "Company" or "CrossAmerica") that were formerly operated by wholly owned subsidiary, Petroleum Marketers, Inc. ("PMI") to multiple buyers. Reliable Tank Line, LLC, a division of Quality Oil Company, LLC, purchased the fuels transportation business. The heating oil and tank wagon commercial fuels business was sold by terminal branch to multiple buyers: Quarles Petroleum, Inc.; Davenport Energy, Inc.; and, Woodfin Heating, Inc.

In May of 2014, Lehigh Gas Partners LP, the predecessor of CrossAmerica, purchased PMI, which at the time operated two primary lines of business: convenience stores and petroleum products distribution. CrossAmerica subsequently decided to divest the fuels transportation, residential heating oil and tank wagon commercial fuels businesses, which consisted of customers, bulk storage plants, operational facilities and fleet assets that served customers throughout the Commonwealth of Virginia. PMI was incorporated in 1949, and has been supplying and delivering a variety of petroleum products to commercial, dealer, governmental and residential customers for over 60 years.

Matrix provided merger and acquisition advisory services to CrossAmerica, on the above divestitures, which included valuation advisory, marketing of the assets through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Spencer Cavalier, Managing Director and Cedric Fortemps, Managing Director. Andrew LoPresti, Associate, also advised on the transaction.

David Hrinak, Executive Vice President and COO of CrossAmerica said, "Matrix's advice, assistance and professionalism throughout this process has resulted in a positive outcome for all parties. As always, it was a pleasure working with the folks at Matrix."

Messrs. Cavalier and Fortemps commented, "Matrix is very appreciative to continue our advisory relationship with CrossAmerica and its general partner, CST Brands, Inc. We are extremely pleased with the results of this process."

Dennis McCarthy and Marc Albanese of Davison & McCarthy, P.C. served as legal counsel for CrossAmerica.

 


Matrix Announces the Successful Sale of Pester Marketing Company & Subsidiaries

RICHMOND, VA - October 30, 2015 - Matrix Capital Markets Group, Inc. ("Matrix") announces the successful closing on the sale of one hundred percent of the equity securities of Pester Marketing Company and its wholly owned subsidiaries, Alta Fuels, LLC and Alta Transportation, LLC (“Pester” or the “Company”) to World Fuel Services, Inc. (NYSE:INT). Pester, headquartered in Denver, CO, is an operator of 57 retail convenience stores and two terminals, and a distributor of biofuels and lubricants to wholesale, commercial and agricultural customers. The Company also transports motor fuels to certain Pester retail stores and to the wholesale, commercial and agricultural customers it supplies. The Company’s convenience stores are located in Colorado, Kansas, Nebraska, and New Mexico.

Founded in Iowa in 1955, Pester has been built by respected energy industry leader, Jack Pester, Chairman, whose energy career has spanned more than 50 years. Mr. Pester’s diverse industry background throughout multiple segments of the energy stream, with a primary focus on downstream and midstream operations, provided him the experience to develop Pester into one of the largest and uniquely integrated privately-held convenience retailers and petroleum marketing companies in the U.S. Mr. Pester is complemented by other deeply experienced senior executives including: Richard Spresser, President and CEO; Terry Lacy, EVP/CFO; Aaron Hackerott, EVP of Sales and Supply; and Jim Sammons, President of Alta Fuels.

Matrix provided merger and acquisition advisory services to Pester, which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Spencer Cavalier, Managing Director and Thomas Kelso, Managing Director and Head of the Downstream Energy & Retail Team. Tod Butler, Vice President; Sean Dooley, Senior Associate; and Christian Klawunder, Senior Analyst also advised on the transaction.

Mr. Pester commented, “Pester Marketing Company has been built by many great employees, who have been committed to its long-term success and culture. Through its prior acquisitions, World Fuel Services has demonstrated its commitment to retaining employees and the cultures that built those successful companies.”

Mr. Cavalier commented, “We are extremely happy for Jack and his fellow shareholders, and we are honored to have advised them for many years on financial transactions, capital raising and valuation. With the acquisition by extremely well-managed and industry leading World Fuel Services, Inc., Pester should continue its strong growth in the Rocky Mountain region.” Mr. Kelso added, “It is an incredible honor to represent Mr. Pester as he exits the industry he has done so much to shape. We wish him well in his future endeavors.”

Christopher Sackett, Jonathan Napier, and John Hunter, of BrownWinick served as legal counsel for Pester.

 


Matrix Announces the Successful Sale of Stop-a-Sec Stores

RICHMOND, VA – October 28, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful closing on the sale of eight stores owned by Stop-a-Sec, Inc. and Seck Enterprises Inc. of Luck, Wisconsin (collectively the “Company”) to TravelCenters of America LLC (NYSE: TA). All eight of the sites were owned in fee. The stores are located in Western Wisconsin and serve the communities of Balsam Lake, Cushing, Grantsburg, Luck, Osceola, Minong, Webster and Woodville, Wisconsin.

Stop-a-Sec, Inc. was founded in 1989 by Ed and Jody Seck with just one store in Luck, Wisconsin. Ed and Jody grew the business through a combination of new builds and acquisitions to the eight stores being sold to TravelCenters of America LLC. The eight stores have operated as Holiday franchised stores and have provided high quality fuel and a full range of convenience store items to the communities they serve.

Matrix provided merger and acquisition advisory services to Stop-a-Sec, Inc. and Seck Enterprises, Inc., which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Spencer Cavalier, Managing Director and John Underwood, Director. Andrew LoPresti, Associate also advised on the transaction.

Ed Seck, President of Stop-a-Sec, Inc. and Seck Enterprises, Inc. said, “Matrix did a great job in leading the sales process, maximizing value for our stores and working with our legal counsel to negotiate the transaction. We are pleased that TA will be retaining our existing employees.  Along with our daughters, Shannon and Jennifer, we have operated our stores as a family business for 26 years and will truly miss the convenience store industry. It was not an easy decision to sell, however we are confident that our employees and customers are in good hands and look forward to seeing positive changes for them all. We appreciate each and every employee and customer. We greatly appreciate the hard work John Underwood and his team at Matrix, along with the law firm of Winthrop & Weinstine led by Mark Johnson, did in bringing things to a successful close.”

Mr. Underwood commented, “It was a real pleasure to work with Ed and Jody and the Stop-a-Sec family. They have built a very strong family business and it was a privilege to work with them on the sale of their stores.”

Mark Johnson, Tami Diehm and Noreen Sedgeman of Winthrop & Weinstine, P.A. served as legal counsel for Stop-a-Sec, Inc. and Seck Enterprises, Inc.

 


Matrix Announces the Successful Sale of Kocolene Marketing, LLC’s Convenience Store Assets

RICHMOND, VA – September 24, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful closing on the sale of Kocolene Marketing, LLC’s (the “Company”) convenience store assets to Alimentation Couche-Tard, Inc. (TSX: ATD.A, ATD.B), through its wholly-owned subsidiary, Mac’s Convenience Stores, LLC (collectively “Couche-Tard”). The Company’s assets acquired by Couche-Tard include thirteen (13) company operated convenience stores with motor fuel offerings in Indiana and Kentucky, as well as the underlying real estate at twelve (12) of the locations.

Kocolene Marketing, LLC is a large fuels distribution, petroleum marketing and convenience store company based in Seymour, Indiana with operations in Indiana and Kentucky. After the sale, the Company will continue to operate a wholesale motor fuels distribution business, seven (7) company operated retail fuel outlets, and fourteen (14) Smoker’s Host retail tobacco stores. The Company is a wholly owned subsidiary of Kocolene Development Corporation (“Kocolene”), a fourth generation, family run business founded in 1938 by Carrie M. Myers and currently managed by Gary F. Myers, Chairman and CEO of Kocolene, Andrea S. Myers, President of Kocolene Marketing, and Kevin Johnson, Executive VP & CFO of Kocolene Marketing, who was integral to managing the transaction process on behalf of the Company. Kocolene also owns controlling interests in Ranger Enterprises, LLC, a warehousing, logistics, and recycling business, and Komack Environmental, LLC, an environmental remediation services company. Kocolene is 100% owned by the Kocolene Development Corporation Employee Stock Ownership Plan.

Matrix provided merger and acquisition advisory services to Kocolene, which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Cedric Fortemps, Managing Director and Vance Saunders, Director. Tom Kelso, Managing Director and Head of Matrix’s Downstream Energy & Retail Group, Stephen Lynch, Senior Associate, and Kyle Profilet, Analyst, also advised on the transaction.

Gary Myers, Chairman and CEO of Kocolene said, “Kocolene is pleased to be transitioning our loyal customers and dedicated team members to one of the respected leaders in the convenience store industry. I feel all will benefit from this transaction long term, which was an important goal as we close a 77 year chapter of our company’s history. We were very pleased with the services Matrix provided our management team as we navigated through the process. Our goal to close this transaction was very aggressive. We chose Matrix because of their demonstrated expertise in completing transactions efficiently.”

Tom Kelso, Managing Director & Head of Matrix’s Downstream Energy and Retail Group said, “We are honored to have been trusted by the Myers family and the other shareholders to advise them on such an important transaction impacting the future of their company.” Cedric Fortemps added, “We greatly enjoyed working with the entire Kocolene team and appreciate all of their hard work which was required in order to successfully close the transaction within approximately five months of Matrix being engaged.”

John Millspaugh, James Moloy, Andrew Harwell, and Angela Stephens Tarter of Bose McKinney & Evans LLP served as legal counsel for Kocolene.

 


Matrix's Downstream Energy & Retail Group Announces Three Successful Sell-Side Advisory Assignments, Brings 2015 Firm-Wide Transaction Closings to Seventeen

RICHMOND, VA – September 22, 2015 - Matrix Capital Markets Group’s Downstream Energy & Retail team has successfully completed three sell-side advisory assignments in the month of August, bringing the total of firm-wide transactions to seventeen so far for this year.

Matrix provided merger and acquisition advisory services, which included valuation advisory, marketing of the Companies through a customized, confidential, structured sale process, and negotiation of the transaction for the following clients:

• Thoroughbred Energy, LLC’s and its related entities’ (“Thoroughbred” or the “Company”) petroleum marketing and convenience store assets were sold to an undisclosed buyer.

Thoroughbred is based in Lexington, Kentucky with operations clustered around the greater Lexington area and in southern Kentucky along Interstate 75. The portfolio of assets includes thirty-two (32) company operated convenience stores, two (2) dealer operated convenience stores and their related fuel supply contracts, and wholesale fuel supply contracts for another eleven (11) dealer locations.  Thoroughbred’s high quality convenience stores averaged 3,000 square feet and offered a wide variety of convenience merchandise and motor fuels at all of the locations. All of the stores are Shell branded.

The transaction was co-managed by Cedric Fortemps, Managing Director and Vance Saunders, Director. Thomas Kelso, Managing Director and Head of Matrix’s Downstream Energy & Retail Group, also advised on the transaction.

• Tedeschi Food Shops, Inc. and related real estate entities (collectively “Tedeschi” or “Company”) were sold to 7-Eleven, Inc.

Headquartered in Rockland, Massachusetts, Tedeschi is a leading convenience retailing and foodservice company located in the New England area, with stores in Massachusetts and New Hampshire. The convenience store chain is comprised of 181 stores.  Tedeschi directly operates 104 corporate stores and is a franchisor of 77 stores. The stores offer a full assortment of traditional convenience store merchandise, private label Tedeschi Select products, proprietary Tedeschi Fresh Foods made to order on-site and delivered from its own commissary, as well as beer, wine and liquor in select locations.

The transaction was co-managed by Thomas Kelso, Managing Director and Head of the Downstream Energy & Retail Group and Spencer Cavalier, Managing Director. Sean Dooley, Senior Associate and Andrew LoPresti, Associate also advised on the transaction.

• GOGAS Corporation’s (“GOGAS” or the “Company”) assets were sold to Quality Oil Company, LLC (“Quality Oil”).

Prior to the sale, Wilmington, NC based GOGAS directly operated twenty (20) high volume retail motor fuel outlets in southeastern North Carolina with total annual fuel volumes of over 53 million gallons. Nineteen (19) of the sites were owned fee simple with the remaining site leased from a third party. The GOGAS portfolio consists of large, well maintained fueling facilities with modern equipment designed to maximize fuel traffic. Each site features a kiosk style building for accepting fuel payments and selling top-tier cigarettes at the lowest prices in their markets. As part of the transaction, Quality Oil has also acquired the GOGAS brand, which is very well respected and a primary reason for the Company’s loyal customer base. All of the Company’s eligible store employees and field staff were retained by Quality Oil.

GOGAS is a wholly owned subsidiary of K. E. Austin Corporation, a private company founded by Kit and Deborah Austin in 1976. The Company started with two stores and has grown over the years through acquisitions of individual sites and building new-to-industry gas stations. Kit Austin, the Company’s President, continued to manage day-to-day operations up until the closing of the transaction. The sale represents a complete exit for him from the motor fuels business.

The transaction was co-managed by Cedric Fortemps, Managing Director and Vance Saunders, Director. Kyle Profilet, Analyst, also advised on the transaction.

 


Matrix Announces the Successful Sale of Thoroughbred Energy, LLC

RICHMOND, VA – August 27, 2015 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the sale of Thoroughbred Energy, LLC’s and its related entities’ (“Thoroughbred” or the “Company”) petroleum marketing and convenience store assets to an undisclosed buyer.  The buyer has closed on 21 of the stores and the wholesale business, and closings on the Company’s additional 13 stores, mainly leased sites, are expected to occur over the next few weeks upon the satisfaction of certain closing conditions.

Thoroughbred is based in Lexington, Kentucky with operations clustered around the greater Lexington area and in southern Kentucky along Interstate 75. The portfolio of assets includes thirty-two (32) company operated convenience stores, two (2) dealer operated convenience stores and their related fuel supply contracts, and wholesale fuel supply contracts for another eleven (11) dealer locations.  Seventeen (17) of the convenience stores are owned fee simple, and the remaining seventeen (17) convenience stores are leased or ground leased. Thoroughbred’s high quality convenience stores averaged 3,000 square feet and offered a wide variety of convenience merchandise and motor fuels at all of the locations. All of the stores are Shell branded.

Thoroughbred is a first generation, privately owned company founded in 1986 by Mr. Dudley Webb, a commercial real estate developer, along with Paul Koshgerian, a college roommate whose background was in motor fuels distribution. At the time, Lexington was a direct supply market for Shell. Mr. Jay Hall, an experienced restaurant chain operator, joined the Company in 1987 and has managed the operations of the Company for the last 28 years. In 1996, the Company entered into a joint venture with Shell whereby the parties contributed their real estate holdings in the Lexington market to the joint venture and Thoroughbred became the Lexington area jobber for Shell. The Company expanded rapidly over the next eight years, and in 2004, Thoroughbred bought out Shell’s ownership in the joint venture. Thoroughbred has since continued their expansion through site acquisitions and building new-to-industry sites.

Matrix provided merger and acquisition advisory services to Thoroughbred, which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Cedric Fortemps, Managing Director and Vance Saunders, Director. Tom Kelso, Managing Director and Head of Matrix’s Downstream Energy & Retail Group, also advised on the Transaction.

Mr. Jay Hall, President & CEO of Thoroughbred said, “The decision to exit the industry was a tough one for the Thoroughbred team. The founders, our fourth partner and attorney Mr. Ronald Tritschler, and all our great employees poured their lives into this company for nearly three decades. The relationships found and fostered will remain. This transition was certainly made easier with the help of Matrix, whose advice and guidance was essential to achieving a successful outcome. “

Mr. Fortemps commented, “We were honored to advise Thoroughbred’s owners on this sale and greatly enjoyed working closely with Mr. Hall and the rest of the Thoroughbred team. The buyer has acquired a tremendous chain of stores in a very attractive and improving Lexington market with this acquisition.”  Thomas Kelso, Managing Director & Head of Matrix’s Downstream Energy and Retail Group added, “Dudley Webb, together with Mr. Hall, built an exceptional company and we congratulate them on their successful exit from the industry.”

Bryce Jewett, Ryan Messier and Scott Weber of McGuireWoods LLP served as legal counsel for Thoroughbred.

 


Matrix Announces Recent Personnel Updates

RICHMOND, VA – August 27, 2015 - Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce the following personnel updates:

Pratik Thakral has been promoted to Senior Analyst.  He has been with Matrix since 2013 and is a member of the Consumer & Industrial Products Group.  Over the years, Mr. Thakral has assisted with numerous successful transactions such as Narcote, LLC, Area Equipment Sales & Rentals, LLC, Southern Filter Media, LLC and Stevens Manufacturing Co., Inc.

Kyle A. Profilet, CPA, Analyst, has completed his CFA Level II exam and is now a CFA Level III candidate.  Mr. Profilet graduated cum laude with a B.S. in Business Administration with concentrations in Finance and Accounting from Longwood University. He holds the Certified Public Accountant designation and has been a member of Matrix’s Downstream Energy & Retail Group since joining the firm in November 2014.

In addition, Matrix is pleased to welcome Carlton C. Zesch, Analyst, who joined the firm in July 2015.  Mr. Zesch will be working across all industry verticals within the firm.  He is a recent graduate of the University of Richmond’s E. Claiborne Robins School of Business where he received a B.S. in Business Administration with a concentration in Finance.

 


Matrix Announces the Successful Sale of Tedeschi Food Shops, Inc. and Related Real Estate Entities

RICHMOND, VA – August 25, 2015 - Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of Tedeschi Food Shops, Inc. and related real estate entities (collectively “Tedeschi” or “Company”) to 7-Eleven, Inc.

Headquartered in Rockland, Massachusetts, Tedeschi is a leading convenience retailing and foodservice company located in the New England area, with stores in Massachusetts and New Hampshire. The convenience store chain is comprised of 181 stores.  Tedeschi directly operates 104 corporate stores and is a franchisor of 77 stores. The stores offer a full assortment of traditional convenience store merchandise, private label Tedeschi Select products, proprietary Tedeschi Fresh Foods made to order on-site and delivered from its own commissary, as well as beer, wine and liquor in select locations.

The Company traces its roots back to 1923, when Angelo Tedeschi opened a small store in Rockland, MA. Four generations of Tedeschi family members and dedicated employees have worked to ensure that the Tedeschi brand continues to be synonymous with high quality offerings, friendly service, and strong community support.

Tedeschi has always been recognized as a leading convenience retailer, and management’s ability to evolve its brand and convenience store offerings have enabled them to stay relevant with a broader consumer base, increase viability well in to the future, and support ancillary but complementary business models. The Company’s most recent growth and evolution have been led by Peter Tedeschi, who has served as President and CEO since 2009. Tedeschi’s commitment to change has earned the Company numerous accolades, including being selected as the “2012 Convenience Store Chain of the Year” by Convenience Store Decisions.

Matrix provided merger and acquisition advisory services to Tedeschi, which included valuation advisory, marketing of the Company through a customized, confidential, structured sale process, and negotiation of the transaction. The transaction was co-managed by Thomas Kelso, Managing Director and Head of the Downstream Energy & Retail Group and Spencer Cavalier, Managing Director. Sean Dooley, Senior Associate and Andrew LoPresti, Associate also advised on the transaction.

Peter Tedeschi commented on the process, “The decision to sell a family owned business like ours is never easy, especially when employees and franchisees have become part of your extended family. Our decision to engage Matrix to assist us with this process was as easy as it was obvious. Through the years we have had a number of opportunities to work with Matrix, and they always conducted themselves in a way that is commensurate with the high standards that we established for ourselves at Tedeschi’s. Their work is top notch, and the guidance that they provided us from start to finish was invaluable.”

Mr. Cavalier added, “Matrix has been very fortunate to have enjoyed a long-term relationship with Tedeschi Food Shops and its shareholders. Tedeschi has been an iconic brand in New England for many years, and we are honored to have advised the family and employees, who have worked diligently to build this extremely successful and leading convenience retailer.”

Marianne Ajemian, Paul Eklund, Matthew Gaughan and Kathryn Conde of Nutter, McClennan and Fish LLP served as legal counsel for Tedeschi.