Press Releases | Page 14 of 18 | Matrix Capital Markets Group

Matrix Announces the Sale of High’s of Baltimore, Inc. to The Carroll Independent Fuel Company

BALTIMORE, MD - March 1, 2012 - Matrix Capital Markets Group, Inc. ("Matrix") announces the successful sale of Hanover, MD based High's of Baltimore, Inc., t/a High's Dairy Stores ("High's" or "Company") to The Carroll Independent Fuel Company ("Carroll"). High's directly operates forty-six (46) retail convenience stores and gas stations located in highly populated areas throughout Maryland, primarily serving customers in the Washington, D.C. and Baltimore, MD suburbs.

For over sixty (60) years, High's has been a leading petroleum marketing and convenience store operator in the region. The Company is highly regarded for providing value to customers through friendly service, quality product offerings, and ultimate convenience due to highly accessible, superior locations. The Company's stores offer Shell and CITGO branded fuels, a wide assortment of convenience merchandise, and freshly prepared coffee and food. Founded in 1907, Carroll is one of the largest petroleum marketing companies in the US, distributing fuels to retail and commercial customers throughout the Mid-Atlantic region. The acquisition of High's by Carroll initiates its entry into the company-operated channel of trade. Carroll will retain the majority of High's executive management team and store personnel.

Brian Darnell, Principal and VP of Real Estate of High's, commented on the transaction, "We are absolutely thrilled to be aligning with such a high quality marketer in Carroll. The acquisition by Carroll will ensure the continuance of a well-recognized brand and the accelerated growth of the High's name within our market area." John Phelps, President of Carroll, commented, "Brian Darnell will be leading the organization as President of High's of Baltimore LLC. Ben Jatlow will serve as VP of Retail Operations and Briana Darnell will serve as VP of Real Estate and Development."

Matrix provided merger and acquisition advisory services to High's, which included valuation advisory, transaction structuring, marketing and negotiating. The transaction was managed by Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group; Spencer Cavalier, Director; and Sean Dooley, Senior Analyst. Spencer Cavalier commented, "The acquisition of High's by Carroll is essentially the merger of two leading and very successful family owned and operated petroleum marketing and convenience store companies. Bolstered by the Carroll's fuels marketing and logistics platform, the highly respected and recognized High's brand will continue to grow in the Mid-Atlantic region. Matrix has been honored to have had an advisory relationship with High's shareholders since 2003, which has culminated in this successful transaction."

Jay Ghingher, Jacqueline Allen and Jim Goodrich of Saul Ewing, LLP served as legal counsel for High's, and Michael Jennings of Ober Kaler served as legal counsel for Carroll.

Matrix Announces Tenth Transaction Closing for 2011, Serves as Exclusive Advisor to American Industrial Partners on its Acquisition of Coastal Lumber

RICHMOND, VA – November 18, 2011 - Matrix is pleased to announce the closing of its tenth transaction of the year. Matrix served as exclusive advisor to American Industrial Partners (“AIP”), a New York City based private equity firm, on its acquisition of Coastal Lumber located in Charlottesville, VA. Coastal Lumber is a regional producer of high grade, green sawn and kiln dried hardwood lumber.

This acquisition represents AIP’s second investment in the space coming on the heels of its recently announced purchase of Northwest Hardwoods from Weyerhauser.

Ben DeRosa, Partner at AIP commented, “The acquisition of Coastal Lumber is an important element in our approach to hardwoods investing and Matrix’s deep experience in the sector was a key to pushing this transaction over the finish line.”

Michael Morrison, Managing Director and Principal at Matrix noted that, “AIP is rapidly becoming a significant consolidator in the hardwood lumber industry and increasing private equity investment in the sector. As the economy improves, these acquisitions will be well positioned to leverage both domestic and global relationships.”

About Matrix Capital Markets Group
Matrix Capital Markets Group, Inc. is an independent, advisory focused, privately-held investment bank headquartered in Richmond, VA. Since 1988, Matrix has provided merger & acquisition and financial advisory services for privately-held, private-equity owned and publicly traded companies. Our primary advisory services include company sales, asset divestitures, recapitalizations, management buyouts, capital raises of debt & equity, corporate recovery, fairness opinions and valuations. Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, business services, consumer products, healthcare, lumber and petroleum marketing & distribution. For additional information, please visit www.matrixcmg.com.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Announces Recent Personnel Changes and Additions

Richmond, VA – October 3, 2011 – Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce several recent personnel changes.

Mr. Vance Saunders, CPA, was promoted to the position of Senior Associate on August 1. Mr. Saunders has been with Matrix since 2006. He received his B.S.B.A with concentration in Finance and Accounting from Longwood University and an M.B.A. from Virginia Commonwealth University.

Ms. Katie E. Millner was promoted to Associate in August as well. Ms. Millner graduated from the University of Virginia where she received a B.A. in History. She is currently enrolled in the MBA Program at the UNC Kenan-Flagler School of Business. She has been with Matrix since 2010.

In June, Mr. Sean P. Dooley, Senior Analyst completed his Level 1 Chartered Financial Analyst examinations and is currently a Level 2 candidate. Mr. Dooley received a B.S.B.A. with a concentration in Finance from East Carolina University.

Mr. William J. O’ Flaherty joined the firm in August as an Analyst and was also recently promoted to the position of Senior Analyst. Prior to joining the firm, Mr. O’Flaherty was an analyst at Wells Fargo in New York, focusing on transportation, logistics and packaging. He graduated from the University of Virginia’s McIntire School of Commerce where he received his B.S. in Commerce with a concentration in finance.

In addition, Mr. Stephen C. Lynch, CPA, joined the firm on October 3 as a Senior Analyst. Mr. Lynch graduated from Virginia Polytechnic Institute with both a Bachelor of Science in Finance and a Bachelor of Science in Accounting and Information Systems. He graduated in the top 1% of his class from the Pamplin College of Business at Virginia Tech. Prior to joining Matrix, he had been an Audit Senior with Deloitte & Touche LLP.

Jeffrey G. Moore, President of Matrix said, “Our goal is to not only attract first class talent to the firm, but also help promote growth within our existing team. All of our professionals play a key role in providing our clients with the best investment banking services available today. We are delighted to welcome William to the Richmond office and congratulate Katie on her promotion to Associate. We also offer our most sincere congratulations to all of our rising professionals and newest team members.”

Thomas E. Kelso, Managing Director and head of the Matrix Energy and Multi-Site Retail Group also commented on the recent changes, “We congratulate Vance on his well deserved promotion and Sean on his significant achievement in completing his Level 1 CFA. We also welcome Stephen and are excited by the unique background and perspective he brings to our team.”

“At Matrix we continue to strive to build the most qualified team of financial professionals because we are dedicated to providing the absolute best financial advisory and transaction execution services to our clients,“ Kelso added.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

by Chris Hull

Matrix Announces Recent Personnel Changes

Richmond, VA – September 29, 2011 – Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce several personnel changes in their Energy and Multi-Site Retail (EMR) Group.

Mr. Vance Saunders, CPA, was promoted to the position of Senior Associate on August 1, 2011. Mr. Saunders is responsible for financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. In addition, Mr. Saunders is responsible for transaction execution and client advisory. He received his B.S.B.A with concentration in Finance and Accounting from Longwood University and an M.B.A. from Virginia Commonwealth University. He holds the Certified Public Accountant designation and is qualified as a FINRA General Securities Representative (Series 7), Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).

In June of this year, Mr. Sean P. Dooley, Senior Analyst, completed his Level 1 Chartered Financial Analyst examinations and is currently a Level 2 candidate. Mr. Dooley received a B.S.B.A. with a concentration in Finance from East Carolina University and is currently a candidate member of the American Society of Appraisers. Mr. Dooley is a qualified FINRA Uniform Securities Agent (Series 63) and Investment Banking Representative (Series 79).

Effective October 3, 2011, Mr. Stephen C. Lynch, CPA, will join the firm as a Senior Analyst. He will be responsible for financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda. Mr. Lynch is a May, 2009 graduate of Virginia Polytechnic Institute with both a Bachelor of Science in Finance and a Bachelor of Science in Accounting and Information Systems. Prior to joining Matrix, Mr. Lynch had been an Audit Senior with Deloitte & Touche LLP. He holds the Certified Public Accountant designation. Mr. Lynch will be located in our Richmond office.

Matt Murphy, Jr., CFA left the firm effective July 22, 2011 to join the Fixed Income Department at Eaton Vance Investment Managers as a Vice President – Global Products Specialist in their Boston, MA headquarters.

Thomas E. Kelso, Managing Director and head of Matrix’s EMR Group, commented on the recent changes, “At Matrix we continue to strive to build the most qualified team of financial professionals because we are dedicated to providing the absolute best financial advisory and transaction execution services to our clients. We congratulate Vance on his well deserved promotion and Sean on his significant achievement in completing his Level 1 CFA. We welcome Stephen and are excited by the unique background and perspective he brings to our team. Finally, we congratulate Matt on his new position and greatly appreciate his hard work and dedication over the last seven years. We are proud of the work he has done and wish him well in his new position at Eaton Vance.”

Matrix's Energy and Multi-Site Retail 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 store chains, petroleum marketers, fuels distributors, retail propane distributors, heating oil distributors, lubes retailers and distributors, terminal operators, fuels transportation companies, hospitality companies, and other specialty retail chains. Team 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 restructurings, corporate valuations, and strategic planning engagements. Since its inception in 1997, this dedicated group has successfully advised on over 90 engagements in these sectors.

Matrix Professionals to Speak During The Association for Convenience and Fuel Retailing (NACS) Show in Chicago

BALTIMORE, MD - September 19, 2011 - John Underwood, Vice President and R.H. “Tod” Butler, Vice President of Business Development, two investment banking professionals with the Matrix Energy & Multi-Site Retail Team (EMR), will present an educational workshop entitled “Building the Best Financial Strategy”. The presentation will take place during the NACS Show on Saturday, October 1, 2011 at 1:30 pm. The workshop will feature a discussion on the creation of long-term financial strategies designed to build and maximize shareholder value for convenience store retailers and professionals. The presentation will focus on the need for strategic financial planning to build shareholder value and provide valuation perspective from both the buyer and seller point of view, as well as provide attendees with an update on recent activity in the M&A and capital markets.

Additionally, on Monday, October 3, 2011 at 8:00 am, Spencer Cavalier, Director of the Matrix EMR Team, will participate in a panel discussion entitled “Clean Up Your Act: Stay Environmentally Compliant”. During this session Mr. Cavalier will discuss environmental compliance from the perspective of shareholder value and discuss environmental issues in M&A transactions.

Each session will include time for questions and answers and the Matrix professionals will be available for further confidential discussions at the end of the program.
The NACS Show is being held October 1 – 4, 2011 at McCormick Place in Chicago. To find out more please visit www.nacsonline.com/nacsshow.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Announces Ninth Transaction Closing for 2011, the Acquisition of ShelterLogic, LLC by RFE Investment Partners and Charter Oak Equity, LP

RICHMOND, VA – September 6, 2011 – Matrix Capital Markets Group, Inc. announced today the sale of ShelterLogic, LLC and its subsidiaries to a private equity investor group led by RFE Investment Partners and Charter Oak Equity, LP in conjunction with management. Financing for the transaction was provided solely by Connecticut sources, with Smith Whiley & Co. providing the subordinated debt and an equity co-investment and TD Bank, NA providing the senior debt. The Company was previously owned primarily by institutional investors Albion Investors, LLC and Montauk Capital.

ShelterLogic is a global manufacturer and marketer of fabric-covered steel frame shelters and canopies for diverse consumer and commercial applications. Headquartered in Watertown, CT, the Company boasts of a national brand, a highly regarded retail and consumer customer base, company-owned manufacturing facilities in China, as well as a domestically operated distribution facility also located in Watertown, CT. The Company is known for its engineering innovation and for helping to create the in-store, retail category of shelters and canopies.

Mike Morrison, Managing Director and Principal at Matrix, noted that “This transaction not only provides an excellent return to exiting shareholders, but positions the Company with fresh, new investors who are eager to provide support of the Company’s aggressive growth strategy which also includes a significant expansion of the Company’s production capacity outside of Shanghai, China. I also need to acknowledge the time invested by the new owners who have worked diligently to develop strong personal relationships with management and a deep understanding of the business model. ShelterLogic is a quality company that continues to post record revenues despite the headwinds of a difficult economy. Everyone who has played a role in this transaction is delighted to be consummating it in such a successful manner.”

“Given the complexities surrounding this transaction and the different shareholder groups involved, I couldn’t be more pleased with the outcome achieved,” commented Jim Raymond, President and CEO of ShelterLogic. “The Matrix deal team did an outstanding job positioning the Company to maximize value and navigating around potential deal hurdles throughout the process. Mike Morrison and his team delivered the best partner for management and the Company as it continues into its next phase of growth.”

“RFE and Charter Oak are very excited to partner with Jim Raymond, CEO, Rob Silinski, Executive Vice President, and the ShelterLogic team. The Company has built a tremendous loyalty among prominent retail establishments that benefit from the Company’s unmatched product quality and unsurpassed customer service,” commented Michael Foster, Managing Director at RFE. “We look forward to supporting the Company and management team with current and future initiatives that will expand the Company’s product offering both domestically and abroad,” added Mark Ullman, General Partner at Charter Oak Equity.

Matrix Capital Markets Group, Inc./Matrix Private Equities, LLC served as the exclusive financial advisor to the Company and its ownership. The transaction was led by Michael Morrison, Bill Kerkam, and David Shoulders.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Announces the Acquisition of Lawrenceville Brick Assets by Belden Brick of Canton, OH

RICHMOND, VA - July 25, 2011 - Matrix Capital Markets Group, Inc. is pleased to announce that Ohio based Belden Brick Company, through its subsidiary Redland Brick, has acquired the assets of Lawrenceville Brick, Inc., "Virginia's Finest Brick Maker."

Matrix served as the exclusive financial advisor to both Lawrenceville Brick and the special committee to its Board of Directors.

Lawrenceville Brick, headquartered in Lawrenceville, VA, is a leading regional brick manufacturer that has served Virginia and the Mid-Atlantic for over 60 years. The Company serves both residential and commercial customers with two manufacturing plants capable of producing 115 million standard size bricks per year offering exceptional product quality and a wide range of brick styles, colors and textures.

Belden Brick Company is the largest family owned and operated brick manufacturer in the U.S., making the Company an ideal partner for Lawrenceville Brick whose own shareholder base includes second and third generation family members. Belden Brick is also the sixth largest brick manufacturer in the U.S.

"We are very pleased with this arrangement," Belden Brick Chairman William H. Belden Jr. said. "We've known the people at Lawrenceville Brick for quite some time and admire the products they produce. Their line fits well into the Redland Brick portfolio and their market area is an excellent enhancement to our sales territory."

Belden also said that the acquisition is a bet that the United States economy and construction industry will eventually bounce back. Marvin Thomas, CEO for Lawrenceville Brick commented, "The Matrix team did a tremendous job on this very complicated transaction. Given the prolonged downturn in the residential and commercial construction markets over the last several years, this transaction was a good outcome for the Company, its shareholders and the community of Lawrenceville, VA."

The transaction was led by the Matrix team of Jeff Moore, Bryan Johnson, Chris Menasco and Katie Millner.

Williams Mullen served as Lawrenceville Brick's legal counsel on the transaction.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

by Chris Hull

Matrix Announces the Successful Sale of 29 Retail Assets Owned by Cumberland Farms

RICHMOND, VA - June 1, 2011 – Matrix Capital Markets Group, Inc. announces the successful sale of twenty-nine (29) retail assets of Framingham, MA based Cumberland Farms, Inc. The retail assets have been sold to multiple buyers, including regional jobbers, individual store buyers, and individual store operators. Closings have occurred on twenty-three (23) of the stores and the remaining six (6) stores under contract should be closing over the next month. All of the locations were owned by Cumberland Farms and were operated by independent operators. Cumberland also supplied fuel to twenty-eight (28) of the stores.

The purpose of the sale was to allow Cumberland to redeploy capital to its remaining and new-to-industry company operated retail units, comprised of over five hundred high volume convenience stores located in highly populated areas across ten states in the Northeast and Florida. For over seventy years, Cumberland has been a leading convenience store operator in these markets and has provided customers with exemplary service and offerings.

Joe Petrowski, Chief Executive Officer of the Cumberland Gulf Group of Companies, commented on the transactions, “It was a pleasure to work with the professionals at Matrix on these transactions. The repositioning of capital within our market area is an important part of our strategy to acquire new sites, renovate existing sites, and own and operate sites consistent with our brand identity.”

Matrix provided merger and acquisition advisory services to Cumberland, which included valuation advisory, asset marketing through a customized, structured sale process, and negotiation of the transactions. The transactions were managed by Tom Kelso, Managing Director and head of the Matrix Energy and Multi-Site Retail Group; Cedric Fortemps, Senior Vice President; Vance Saunders, Associate; and Sean Dooley, Senior Analyst. Mr. Kelso commented, “We are extremely pleased to have advised Cumberland on the monetization of a significant amount of non-core assets. We know that the proceeds derived from these transactions will be redeployed in a manner that provides a higher return on capital than they would have generated from continuing to own these assets. It was a pleasure working with the entire Cumberland team and we appreciate them engaging Matrix to maximize the value of these stores.”

About Cumberland Farms
Cumberland Farms makes life easier for busy people every day. Its network of convenience stores across 11 states reflects the values of three generations of providing customers with value, convenience and unparalleled service - whether you need a refreshing Chill Zone drink, a cup of Farmhouse Blend Coffee or a quick, satisfying meal. Family owned for over 70 years, Cumberland Farms also has a long heritage of giving back to the communities where it operates. For additional information, please visit www.cumberlandfarms.com.

Matrix Presents at SIGMA Masters Program: Dealer Network Strategies & Development Program

Richmond, VA –May 11, 2011. Matrix Capital Markets Group is pleased to announce that it participated in the first Dealer Network Strategies & Development Masters Program presented by the Society of Independent Gasoline Marketers of America (SIGMA) that was held May 4– 5, 2011 at the Hyatt Dulles Hotel, Washington, D.C. Speaking at the conference on behalf of Matrix were Spencer Cavalier, Director; Tod Butler, Vice President of Business Development; and Matt Murphy, Senior Associate, all members of the Matrix Energy and Multi-Site Retail Team.

The two day workshop was designed to inform and educate petroleum marketers about the opportunities and challenges in the dealer channel of trade. Matrix’s presentation included an overview of dealer channel methods for forecasting the conversion of directly operated stores to dealer operated stores, and guidelines for valuing dealer operated stores and supply agreements. In addition to Matrix, other presenters included industry professionals from Televent/DTN, Medenica Consulting, The Carroll Independent Fuel Company, LIT USA, Steptoe & Johnson LLP and Bassman, Mitchell & Alfano. Twenty-three (23) people from sixteen (16) marketing companies attended the highly informative event.

Spencer P. Cavalier, Director, said “We were honored to be asked by SIGMA to participate as speakers in this masters workshop, and we were very impressed with the overall educational value of SIGMA’s workshop, the other speakers, and the participating marketers.

Matrix Announces the Successful Sale of 20 High's Dairy Stores

BALTIMORE, MD - April 21, 2011 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful sale of twenty (20) retail assets of Hanover, MD based High’s of Baltimore, Inc., t/a High’s Dairy Stores (“High’s” or “Company”). The retail assets have been sold to multiple buyers, including national consolidators, regional jobbers, and individual store operators. High’s directly operated all of the units. Fee simple real estate interests in three (3) units and leasehold interests in seventeen (17) units were conveyed to the buyers.

The purpose of the sale was to allow High’s to redeploy capital to its remaining and new-to-industry retail units, comprised of forty-six (46) high volume convenience stores located in highly populated areas of the Baltimore-Washington, D.C. corridor. For over sixty years, High’s has been a leading petroleum marketing and convenience store operator in the region. The Company is highly regarded for providing value to customers through friendly service, quality product offerings, and ultimate convenience due to highly accessible, superior locations. The Company’s stores offer Shell and CITGO branded fuels, a wide assortment of convenience merchandise, and freshly prepared coffee and food.

Brian Darnell, Principal and VP of Real Estate for High’s, commented on the transactions, “The justification of locations and reallocation of capital to maximize potential return is a process that chains should periodically perform. It has also allowed us to refocus on our core assets.”

Matrix provided merger and acquisition advisory services to High’s, which included valuation advisory, asset marketing through a customized structured sale process, and negotiation of the transactions. The transaction was managed by Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group; Spencer Cavalier, Director; Matt Murphy, Senior Associate; and Sean Dooley, Senior Analyst. Mr. Cavalier commented, “Matrix has been providing valuation guidance to High’s shareholders since 2003, which allowed High’s to time the marketing of these properties in order to achieve maximum value. We believe High’s consistent focus on the assessment and proper allocation of capital is a primary reason the retail chain has continued to grow and thrive. We have enjoyed working with High’s over the years and greatly appreciate the opportunity to structure and execute these transactions.”

Jay Ghingher and Jacqueline Allen of Saul Ewing, LLP served as legal counsel for High’s.

John Underwood Joins Matrix Capital

Richmond, VA – April 4, 2011 –Matrix Capital Markets Group, Inc. (“Matrix”) announced today that John J. Underwood has joined the firm as a Vice President in the Energy & Multi-Site Retail Industry Group. At Matrix he will be responsible for new client development and co-managing all aspects of client transactions including total company sales, asset divestitures, acquisitions, recapitalizations, valuations and strategic planning.

Mr. Underwood brings over 30 years of major integrated oil company experience to the Matrix team. Prior to joining Matrix, John was the Retail Portfolio Manager for BP and was responsible for managing BP’s retail station divestment program in the United States east of the Rockies. John oversaw over 50 transactions in a six year period totaling over $1 billion and managed the transition of BP’s retail assets from direct supply to jobber supply. Mr. Underwood has worked in virtually all facets of retail marketing, and has substantial experience in product distribution, logistics, product supply and supply planning. In addition to his U.S. experience, John has worked in overseas Downstream operations in Romania, Poland and England.

Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix said, “John brings very valuable knowledge and experience to our EMR Group and we are very excited to welcome him to our team. Because of his background, John will allow us to provide a unique perspective that will be extremely valuable to our clients. With John joining our team, we now offer over 150 years of combined industry expertise that we can use to benefit our clients.”

Matrix Serves as Exclusive Advisor to North American Propane, Inc. on its Sale to NGL Energy Partners LP

RICHMOND, VA – February 8, 2012 – Matrix Capital Markets Group, Inc. announced today the sale of North American Propane, Inc. (“NAP”) to NGL Energy Partners LP (NYSE: NGL) for approximately $66.8 million in cash, subject to adjustment for certain assumed liabilities, working capital and other specified items. North American Propane operates as a large regional retail and wholesale distributor of propane, distillates and industrial gases to residential, commercial, industrial and agricultural customers.

Headquartered in Taunton, Massachusetts, NAP serves the Northeast and parts of the Mid- Atlantic, including Massachusetts, Connecticut, Maryland, Pennsylvania, Delaware, Rhode Island, Maine and New Hampshire. NAP was acquired in 2003 by management and majority shareholder Albion Investors, a private equity firm focused on middle market buyouts. Matrix Capital Markets Group served as exclusive financial advisor to North American Propane. The transaction was led by Mike Morrison, Bill Kerkam, David Shoulders and William O’Flaherty. Mike Morrison, Managing Director and Principal at Matrix commented, “This is the second company we have sold for Albion in the last year. This is a great result for customers, ownership and NGL.”

Mark Arnold, Managing Partner at Albion Investors said, “Since 2003, NAP has grown rapidly through the acquisition of 14 companies in the propane, distillate and industrial gas segments. The resulting geographic reach and customer base aligns well with NGL’s business and product offering.” According to H. Michael Krimbill, Chief Executive Officer of NGL Energy Partners, “This purchase expands our operations in the New England market and provides entry into the Mid-Atlantic market of the U.S. NAP serves in excess of 50,000 customers and delivers about 18 million gallons of retail volume, 8 million gallons of wholesale propane volume, and 10 million gallons of distillate volume annually.”

Charlie Gonzales, Managing Director at Albion Investors said, “We appreciate the guidance and efforts of the Matrix team who worked tirelessly to bring this transaction to a close. They did an excellent job putting the transaction together and we were very pleased with the outcome.” Bill Kerkam, Senior Vice President at Matrix, added, “The attractive geographic market and size of the transaction allowed us to generate significant interest from multiple players in the industry. The strategic fit with NGL is very apparent and we look forward to seeing them benefit from the Company’s strong foothold in the New England and Mid-Atlantic markets.”

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Announces the Successful Sale of Triton Marketing, Inc.

BALTIMORE, MD - January 13, 2011 – Matrix Capital Markets Group, Inc. (“Matrix”) announced today the successful closing on the sale of the wholesale distribution assets of Atlanta, GA based Triton Marketing, Inc. (“Triton”) to Cary Oil Company, Inc. (“Cary”) of Cary, NC. The asset portfolio is comprised of over one-hundred and twenty-five (125) gasoline and diesel customers including branded-contract, unbranded contract, and non-contract dealers, carrying the Chevron, Texaco, CITGO, Phillips 66, Exxon, Mobil, and Shell flags.

Matrix provided merger and acquisition advisory services to Triton, which included valuation advisory, asset marketing through a structured sale process, and negotiation of the transaction. Matrix executed a customized marketing process for the assets that successfully balanced Triton’s desire to market the assets while retaining the principals’ need for confidentiality in a highly competitive business environment. Triton was presented with twelve potential suitors for the Company. They ultimately entered into a deal with Cary who emerged as the best suitor in regard to both consideration and as the future employer of Triton’s key personnel.

Jimmy Patton, President of Triton, commented on the transaction, “We appreciate the advice, hard work and creativity Matrix provided in marketing our Company.”

The transaction was managed by Tom Kelso, Managing Director and head of the Matrix Energy and Multi-Site Retail Group, Spencer Cavalier, Director and Matt Murphy, Senior Associate. Mr. Kelso commented, “We greatly appreciate the opportunity to have worked with Mr. Patton and his management team on the successful sale to Cary. The quality and positioning of Triton’s assets combined with their exceptional management team made the business a very attractive opportunity and were the driving factors in achieving a successful result.”

The acquisition significantly expands Cary’s market presence in Georgia, and provides a solid platform for future growth in the Southeast. Mark Bevill, Executive Vice President and CFO of Triton, along with Mark Barron, Vice President of Marketing of Triton, have joined Cary and will spearhead future growth in the greater Georgia markets.

Gregory A. Randall of Holt Ney Zatcoff & Wasserman, LLP served as legal counsel for Triton, while Rick Stephenson of Stephenson, Stephenson & Gray, LLP served as legal counsel for Cary Oil.

Matrix Announces the Successful Sale of Lehigh Gas Stores

RICHMOND, VA - January 3, 2011 – Matrix Capital Markets Group, Inc. (“Matrix”) announced today the successful closing on the sale of select retail assets of Lehigh Gas Corporation, a petroleum marketer and convenience store operator in the Northeast. The assets, located in New York, Pennsylvania and New Jersey include both company-operated and dealer-operated stores.

These sales are part of Lehigh’s ongoing efforts to rationalize its existing assets as part of its overall plan to continue growth through opportunistic acquisitions. Matrix executed a structured and customized marketing process for the assets, which yielded multiple competitive offers that provided Lehigh Gas with an array of options to maximize the value of the assets. In all, 40 stores will be sold. Twenty-five (25) of the stores were purchased by Sunoco on December 22, three (3) stores were sold to individual dealers, and closings on the remaining twelve (12) stores will occur over the next few weeks. Joe Topper, CEO of Lehigh Gas, commented on the transaction, “I appreciate Matrix’s strategic review of our business and management of the sale process, which has helped us achieve greater enterprise value.”

Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix, who managed the transaction said, “We were honored to be selected by Lehigh Gas to handle these transactions. We enjoyed working with Joe Topper, Lehigh’s CEO, Dave Hrinak, Lehigh’s President, and their management team in helping to achieve Lehigh’s goal of monetizing assets in order to reinvest the capital and grow in their core markets.” Matt Murphy, Senior Associate with Matrix, who co-managed the transaction added, “The quality and positioning of Lehigh’s assets combined with the exceptional way these stores were managed created a very attractive opportunity and were the driving factors in achieving an extremely successful result.”

To learn more about Lehigh Gas Corporation, visit http://www.lehighgas.com

Matrix Concludes Successful M&A Deal Summit

RICHMOND, VA - November 15, 2010 – Matrix Capital Markets Group announces the successful completion of the Matrix Petroleum/C-Store M&A Deal Summit sponsored by Oil Price Information Service (OPIS) held on November 11-12, 2010 at the Westin Copley Place in Boston, MA.

It was a lively, fun and informative event where attendees were divided into two teams that competed to buy a group of convenience store and petroleum marketing assets being offered for sale by a fictitious seller. Each team was challenged to value the assets, assess the environmental issues, analyze legal issues, and ultimately prepare and submit an asset purchase agreement. The sale process included multiple rounds of bidding and the participants learned how to navigate a structured sale process. Each team was advised by experienced M&A professionals from Matrix, environmental experts from Delta Consultants, and experienced attorneys from Ober Kaler Grimes & Shriver and Hunton & Williams. At the end of the Summit, a winning team was selected and prizes were awarded. As an added bonus, Dr. George Overstreet from the McIntire School of Commerce, University of Virginia, presented some original research about valuation, real estate and the need for business owners to think like investors.

There were 26 participants including individuals from Graft Oil, Cumberland Farms, Irving Oil, Leavesley Chevron, Gilbarco Veeder-Root, Quik-Way Group, Delta Oil, NACS, Dead River Company, Petrobras, Morgan Stanley, Tedeschi Food Shops, Inc., Certified Oil, SpeedyQ Markets, Strauch Companies, Cadena Comercial Oxxo, S.A. de C.V., Alliance Energy, Klein Capital and Manchester Marketing, Inc.

“This is the second year that Matrix has spearheaded this event in conjunction with OPIS and we were delighted to be a part of it. Our goal was to put on an event that was both educational and fun and where the participants had plenty of interaction with the professionals and with each other. Based on the feedback we received after the event, I feel like we accomplished that goal”, said Tom Kelso, Managing Director and head of the Matrix Energy & Multi-Site Retail Group.

Matrix's Energy and Multi-Site Retail 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 store chains, petroleum marketers, fuels distributors, retail propane distributors, heating oil distributors, lubes retailers and distributors, terminal operators, fuels transportation companies, hospitality companies, and other specialty retail chains. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, private debt and equity raises, corporate restructurings, and corporate valuations and strategic planning engagements. Since its inception in 1997, this dedicated group has successfully advised on over 75 engagements in these sectors.

Matrix Successfully Advised Advantor Systems in Obtaining an Equity Investment by McCarthy Capital

Richmond, VA – September 1, 2010 – Matrix Capital Markets Group, Inc. announced today that it has successfully advised Advantor Systems and its shareholders in obtaining an equity investment by McCarthy Capital. McCarthy Capital manages a $500 million private equity fund and is based in Omaha, NE with offices in Denver and Boston. Matrix served as the exclusive financial advisor to Advantor.

Advantor, headquartered in Orlando, FL, is a leading designer and integrator of physical security systems with extensive experience securing high-profile government, Department of Defense and commercial organizations. Their primary business provides security solutions to identify and manage threats to critical infrastructures. With over 1,000 systems deployed, Advantor aids in the design, integration, installation, training and servicing of security systems. www.advantor.com.

“We selected McCarthy Capital as our partner because of their experience, cultural compatibility, and partnership approach with their investments,” said Todd Flemming, President and CEO of Advantor. “In addition to providing us with growth capital to execute on current opportunities, we are excited about the expertise McCarthy Capital will bring to our employee-owned company.”

“The Matrix deal team worked tenaciously to guide this extraordinarily complicated transaction to closure. They saw the tremendous fit between our desire for a long-term, growth oriented partner and McCarthy’s unique understanding of the industry, and provided sound analysis and counsel to both sides throughout the process. We look forward to working with Matrix on our next transaction,” Flemming added.

Securities offered by Matrix Private Equities, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA, SIPC.

Matrix Announces the Successful Sale of Quarles Petroleum’s Convenience Stores

RICHMOND, VA - July 6, 2010 – Matrix Capital Markets Group, Inc. announced today the successful closing on the sale of the retail assets of Quarles Petroleum, Inc., a mid-Atlantic fuel oil distributor, propane supplier, motor fuels supplier, fleet fuel site provider, and convenience store chain. The retail stores are all located in Virginia and sell Shell branded and unbranded motor fuels.

Quarles began as a one-truck, family oil business in 1939, and today is a corporation that employs over 500 people across 7 states. Quarles distributes over 150 million gallons of motor fuels, heating oil, and propane each year. In addition to Quarles’ core businesses in fuels distribution, the company was operating twenty (20) retail convenience stores with fuel offerings.

Late in 2009, Quarles decided to engage Matrix to structure and manage a confidential sale process in order to achieve maximum value in divesting of the Company’s retail assets and redeploy that capital into its other businesses. The extremely competitive sale process designed and executed by Matrix resulted in a sale of fourteen (14) of the stores to 7-Eleven, Inc. The remaining six (6) stores were sold to various other buyers. The closings on nineteen (19) of the stores have been completed as of today, with the remaining to occur in the next few weeks. As part of these agreements, all stores purchased will continue to accept Quarles’ fleet cards. Ben Wafle, President of Quarles’ Retail Division commented on the sale, “Matrix did a thoroughly professional job throughout the process and went above and beyond my expectations. We are very pleased with the results achieved.”

Tom Kelso, Managing Director and head of the Energy and Multi-Site Retail Group at Matrix managed the transaction and added, “It was an honor to be selected by Quarles to handle this transaction, and it was a pleasure working with Ben and his management team in achieving their goal of monetizing their retail assets to reinvest the capital into and grow their core businesses.” Cedric Fortemps, Senior Vice President with Matrix, who co-managed the transaction also commented, “The quality and positioning of Quarles retail assets combined with their exceptional management and store personnel made the business a very attractive opportunity and were the driving factors in achieving an extremely successful result for Quarles.”

Williams Mullen served as legal advisor to Quarles on the transaction.

To learn more about Quarles Petroleum, Inc., visit www.quarlesinc.com

Matrix Promotes Cedric Fortemps

RICHMOND, VA - July 1, 2010 - Matrix Capital Markets Group, Inc. announced today that Cedric Fortemps has been promoted to Senior Vice President.

Mr. Fortemps has been a member of Matrix’s Energy and Multi-Site Retail Group and the Bankruptcy and Reorganization Practice since joining the firm in 1998. Over the past dozen years, he has been a leading contributor on over seventy successful Matrix engagements including the sales of the Virginia assets of Delek U.S. Holdings, ZOOTS Dry Cleaning, Angus I. Hines, Inc., Huffman Oil Company, Briggs Hospitality, C. R. Quesenberry, Inc., and FFP Marketing Company, Inc.

Mr. Fortemps graduated cum laude with a B.S.B.A. with a concentration in Finance from the University of Richmond. He is a CFA Charterholder and a member of the CFA Institute. He is also a qualified Series 7, Series 63 and Series 79 FINRA General Securities Representative. He also serves on the Advisory Board for the University of Richmond’s Student Managed Investment Fund and has been a guest lecturer for the University’s MBA Program.

Tom Kelso, a managing director and principal at Matrix and head of the firm’s Energy and Multi-Site Retail Group, commented "Cedric has provided excellent advice and service to our clients in helping them maximize the value of their companies over the last dozen years and it is a privilege to work with such a dedicated and talented investment banker."

Matrix's Energy and Multi-Site Retail 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 store chains, petroleum marketers, fuels distributors, retail propane distributors, heating oil distributors, lubes retailers and distributors, terminal operators, fuels transportation companies, hospitality companies, and other specialty retail chains. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, private debt and equity raises, corporate restructurings, and corporate valuations and strategic planning engagements. Since its inception in 1997, this dedicated group has successfully advised on over 70 transactions in these sectors.