Press Releases

Matrix Hires Senior Analyst

RICHMOND, VA - April 20, 2010 - Matrix Capital Markets Group, Inc. is pleased to announce that Sean P. Dooley has joined the firm’s Energy and Multi- Site Retail Group as a Senior Analyst. He will be responsible for conducting financial, industry, and buyer research, creating valuation and financing models, and preparing selling and private placement memoranda.

Prior to his new position with Matrix, Mr. Dooley was a member of the Forensic and Valuation Services Group at Ellin & Tucker, Chartered, a large regional accounting and consulting firm, where he gained extensive experience in financial analysis and business valuation. Before joining Ellin & Tucker, he was an analyst with the Federal Systems Group of Unisys Corporation. Mr. Dooley graduated from East Carolina University with a B.S.B.A. with a concentration in Finance. He is also a candidate member of the American Society of Appraisers.

“We are delighted to have Sean join the Matrix team,” said Tom Kelso, Managing Director of Matrix’s Energy & Multi-Site Retail Group. “His extensive background and expertise will be a valuable asset to not only our clients, but the company as well.”

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.

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Matrix Advises the Special Committee of the Board of Directors of United Fuel & Energy Corporation on its Merger with SC Fuels

RICHMOND, VA - February 16, 2010 - Matrix Capital Markets Group, Inc.(“Matrix”) announced today that it provided financial advisory services and a fairness opinion to the Special Committee (the “Special Committee”) of the Board of Directors for United Fuel & Energy Corporation (Pink Sheets: UFEN) (“United Fuel”) on its merger with Southern Counties Oil Co. (“SC Fuels”), and its wholly-owned acquisition subsidiary, Goldstream, Inc. (“Goldstream”).

United Fuel is engaged in the business of distributing gasoline, diesel and lubricant products primarily in certain markets of Texas, California, New Mexico, Arizona and Oklahoma. United Fuel represents the consolidation of numerous companies, the most significant of which was the Eddins-Walcher Company and Cardlock FuelsSystem. SC Fuels is a California limited partnership that distributes petroleum products throughout the Western United States.

Matrix’s advisory team was led by Tom Kelso, Managing Director, Spencer Cavalier, Director, and Cedric Fortemps, Vice President. Spencer Cavalier added, “It was an honor to work with the members of the Special Committee who did an excellent job maximizing shareholder value.”

Cox Smith Matthews Incorporated acted as legal advisor for United Fuel and Fulbright & Jaworski L.L.P. served as legal advisor for the Special Committee. Rutan & Tucker, LLP served as legal advisor to SC Fuels.

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. 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 valuation and long term planning engagements. These sectors include companies such as 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.

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Matrix Announces the Successful Sale of Uni-Marts’ Assets

BALTIMORE, MD - January 11, 2010 - Matrix Capital Markets Group, Inc. announced today the successful sale and closing of all of the retail convenience stores and petroleum distribution assets of Uni-Marts, LLC., et al, Debtors-in- Possession in Case No. 08-11037 (MFW) of the United States Bankruptcy Court for the District of Delaware. The assets were sold pursuant to Court Orders approving the sale of the assets to various purchasers and the Second Amended Joint Plan of Liquidation of Uni-Marts, LLC and its Affiliated Debtors dated December 30, 2009.

144 of the assets were purchased by Kwik Pik, LLC, an affiliate of Lehigh Gas Corporation. The closing of the sale of 138 of the assets to Kwik Pik was completed on December 30, 2009 with a closing on the remaining 6 assets on January 8, 2010. 60 of the assets were sold to 25 various other purchasers and those closings occurred at various times during the period from October 30, 2009 through January 7, 2010.

Of the assets Kwik Pik purchased, there were 59 company-operated locations and 85 wholesale dealer accounts. 9 of the dealer accounts included real estate control. 53 of the assets purchased by other buyers were company-operated locations and 7 were wholesale dealer accounts. All 7 of the dealer accounts included real estate control. The Uni-Mart assets were located in Pennsylvania, New York and Ohio.

Thomas E. Kelso, managing director and principal at Matrix, said “these closings are the culmination of a highly successful sale process which required an enormous amount of hard work on the part of the Debtors, the Debtors’ professionals, the professionals employed by The Official Committee of Unsecured Creditors and Kwik Pik.” In addition to Matrix, the Debtors were represented by the law firm of Hunton & Williams LLP and the financial consulting firm, Protiviti, Inc. The Official Committee of Unsecured Creditors was represented by the law firm of Blank Rome LLP and the financial advisory firm of Mesirow Financial.

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Hunter Hotels and Matrix to Provide Unique Advisory Services to Lodging Companies with Distressed Assets

RICHMOND, VA - October 6, 2009 - Matrix Capital Markets Group, Inc. (“Matrix”) and Hunter Hotels (“Hunter”) are pleased to announce that they will partner to provide advisory solutions to lodging companies with financially distressed hotel properties. The broad array of services provided by the partnership will include the restructuring of debt, corporate recapitalization and/or the sale of some or all of the assets.

Matrix and Hunter have successfully advised on the sale of hotels for over 30 years, as well as numerous transactions involving financially distressed companies operating in or outside of bankruptcy. Having managed these distressed asset sales, many under Chapter 11 of the U.S. Bankruptcy Code, and with unmatched hotel industry expertise and contacts, Hunter and Matrix will be able to advise operators on the complex issues they face as they seek to de-leverage their businesses.

Tom Kelso, a Managing Director and Principal at Matrix, said “We are excited about the advisory services that we will be able to offer through our partnership with Hunter Hotels. Our combined experiences and skill sets will provide a unique solution to help hotel owners preserve or realize as much value for their properties as possible.”
Hunter Hotels’ President Teague Hunter expressed great enthusiasm for the joint venture. "The continued stress in our industry has created a need for financial restructuring at many different companies. Matrix's long history of advising firms through difficult times, and our long history of advising hotel investors, together will give our clients access to the resources they need to thrive in the current environment."

About Hunter Hotels
Hunter Hotels, founded in 1978, has offices in Atlanta, Washington, D.C., Minneapolis and Dallas. The firm’s exclusive focus is in hotel brokerage and financing.

About Matrix Capital Markets Group
Matrix Capital Markets Group is a leading middle-market investment bank headquartered in Richmond, VA. Since 1988, Matrix has focused on providing merger & acquisition and financial advisory services for corporate and privately-held companies, including sales and divestitures, Staged Liquidity Transactions®, management buyouts, and debt & equity placements.

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Matrix Formalizes Strategic Planning and Corporate Valuation Services for Clients

BALTIMORE, MD - October 1, 2009 - Matrix Capital Markets Group, Inc.’s Energy and Multi-Site Retail Group (EMR) announced today that it will now formally offer Strategic Planning and Corporate Valuation consulting services in addition to the other investment banking services it currently provides. These services are designed to assist petroleum marketers and convenience store companies with their long range financial planning. Matrix has always provided these services upon request, but has decided to formalize the offering due to increased demand. Matrix already provides merger and acquisition advisory and execution expertise for both sell-side and buy-side transactions and capital raising and corporate restructuring services.

Matrix’s Strategic Planning and Corporate Valuation services team will be led by Spencer P. Cavalier, a Director at Matrix. Mr. Cavalier is a CFA Charterholder and designated as an Accredited Senior Appraiser (ASA) in business valuation with the American Society of Appraisers. In addition to Mr. Cavalier, Cedric Fortemps, Vice President, Matt Murphy, Associate, and Vance Saunders, Associate will also be providing expertise in this area. Mr. Fortemps and Mr. Murphy also hold the very prestigious CFA designation, and Mr. Saunders is a CPA. Matrix’s EMR Group offers its clients over 100 years of combined investment banking and operational experience and has completed over 50 M&A transactions in the petroleum marketing and convenience store industry.

For companies that may be considering a transaction in the next few years, Matrix’s Strategic Planning services will aid shareholders in maximizing future equity value. In most cases, this involves positioning the business in the most appealing way to potential buyers prior to a sale. Matrix will conduct an external assessment of the business to ensure that the client is focusing on the key drivers that will increase exit price and identify weaknesses a buyer would highlight during the due diligence process. Strategic planning includes valuation, a growth strategy, an operational improvement plan, and an assessment of how different buyers will value the business and position it accordingly. Matrix will identify and value potential synergies for buyers as well as identify risk factors and recommend ways to manage and reduce these risks so that they do not reduce the future transaction value.

Matrix will provide business valuation services to companies and their underlying securities, including common equity, partnership and limited liability company interests, convertible and preferred securities, options, warrants, and debt instruments. Both informal and formal valuations are provided for the following purposes: long and short-term corporate planning, solvency and capital adequacy opinions, fairness opinions, buy-sell agreements, financial acquisition/divestiture, strategic acquisition/divestiture, take private transactions, estate and gift tax planning, and estate settlement. The Firm’s valuation work is supported by extensive transactional and operational experience, allowing it to assess complex transactions.

Tom Kelso, Managing Director and Principal at Matrix remarked, “These services are a natural extension of our long-term commitment to assisting petroleum marketers and convenience store companies build and realize substantial value for their companies. Having three CFA Charterholders, a person with valuation certifications and a CPA all on one dedicated team is highly unusual in the world of middle-market investment banking. We are very pleased to offer their expertise to our clients.”

About Matrix’s 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. 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 valuation and long term planning engagements. Matrix’s dedicated group has successfully advised on over 50 transactions in these sectors.

About Matrix Capital Markets Group
Matrix Capital Markets Group is a leading middle-market investment bank headquartered in Richmond, Virginia. Since 1988, Matrix has focused on providing merger & acquisition and financial advisory services for corporate and privately-held companies, including sales and divestitures, Staged Liquidity Transactions®, management buyouts, and debt & equity placements.

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Matrix Announces Uni-Marts Bankruptcy Results

BALTIMORE, MD - September 24, 2009 - Kwik Pik, LLC, (“Kwik Pik”) an affiliate of Lehigh Gas Corporation and other various parties were named the successful bidders of the Uni-Marts’ assets for a total of approximately $19.6 million plus assumption of certain of the Debtor’s liabilities in an auction managed by Matrix Capital Markets Group, Inc. (“Matrix”). The auction, which was held in Wilmington, DE on September 23rd, featured highly organized and competitive bidding that lasted nearly fifteen hours with over 200 participating bidders.

Kwik Pik’s Stalking Horse Bid, which was approved by the Delaware District of the U.S. Bankruptcy Court earlier this month, established $16.7 million purchase price for 207 Uni-Marts’ assets of which $10.0 million was allocated to assets in Ohio and $6.7 million was allocated to assets in Pennsylvania and New York. The final purchase price for the assets of approximately $19.6 million represents a 17% improvement to the Stalking Horse Bid. Kwik Pik won the auction for the Ohio assets for $10.0 million, while Kwik Pik and twenty-five other successful bidders combined to push the value for the Pennsylvania assets to $9.6 million, which represents an improvement of 43%. In addition to the cash proceeds successful bidders are assuming a substantial portion of the debtor’s liabilities, which further improves the value to the Debtor’s estate.

Tom Kelso, managing director and principal of Matrix, commented, “We are extremely pleased to have the opportunity to work with the Debtor to deliver maximum value for the assets to Uni-Marts’ creditors. We developed and executed a customized sales process that covered over 200 assets across three states that was successful in selling every asset and providing a very substantial return to the creditors.” The sales are subject to the approval by the U.S. Bankruptcy Court and are expected to close during the middle of November.

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Matrix Announces Details Related to Uni-Marts Stalking Horse Bid

BALTIMORE, MD – September 8, 2009 - Matrix Capital Markets Group, Inc. (“Matrix”) has provided further details on the Uni-Marts Bankruptcy Stalking Horse Bid. Kwik Pik, LLC (“Kwik Pik”), an affiliate of Lehigh Gas Corporation, was approved as the Stalking Horse Bidder in the Uni-Marts Bankruptcy Asset Sale by the Delaware District of the U.S. Bankruptcy Court last week.

As previously reported, the Kwik Pik Agreement (“Agreement”) provides for a purchase price of $10 million for the Ohio assets and $6.7 million for the assets located in Pennsylvania and New York. The proposed transaction should close towards the end of October if Kwik Pik is declared the ultimate winner at the conclusion of the auction process.

Under the Agreement Kwik Pik is obligated to close the transaction at those values or higher as the Agreement is “as is where is” without any environmental, financing, or other contingencies. Additionally, no purchase price reductions are permitted as Kwik Pik has waived the rights to any further due diligence. Kwik Pik is also subject to forfeit a $500,000 escrow deposit if they do not close on the transaction.

The Agreement also provides the estate with an opportunity to increase the value above $16.7 million. Under the Agreement, single store and small group bidding will be permitted on all of the Uni-Marts assets. There are one-hundred and thirtyone assets included in Kwik Pik’s “all or none” provision while seventy-six assets are not covered by the “all or none” provision ensuring prospective buyers who are interested in acquiring one or two stores that they can compete for the asset(s) without facing the constraints of an “all or none” bid.

Minimum Bids for the assets have been adjusted to conform with the Kwik Pik Agreement. The total for all of the Minimum Bids in Pennsylvannia and New York has been revised to $6.8 million, which includes the $6.7 million purchase price plus a $100,000 break-up fee if Kwik Pik is not selected as the winner at auction. The net adjustment is reflected in the Minimum Bids for the fuels distribution assets, which have been revised down from $1.28 million to $876,000. The total of the Minimum Bids for the Ohio assets remains $8.6 million.

Tom Kelso, managing director and principal of Matrix, noted “this sale process, like all sale processes run by Matrix, is developed to maximize the value for the assets included in this particular sale and is not a one size fits all process. The Kwik Pik Agreement allows us to create an auction process designed to ensure we have a competitive auction and to maximize the value for the company’s creditors.” The live auction is scheduled for September 23, 2009 in Wilmington, Delaware.

About Matrix’s 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. 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 valuation and long term planning engagements. Matrix’s dedicated group has successfully advised on over 50 transactions in these sectors.

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.

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Matrix Successfully Advises Committee of Unsecured Creditors of Crescent Oil Company

RICHMOND, VA - August 21, 2009 - Matrix Capital Markets Group, Inc. (“Matrix”) is pleased to announce that it has successfully advised the Official Committee of Unsecured Creditors (the Committee”) of Crescent Oil Company, Inc., et al. (“Crescent”) in Crescent’s Chapter 11 Bankruptcy Case in the Kansas City Division of the District of Kansas’ U.S. Bankruptcy Court (the “Court”).

Matrix was engaged by the Committee to ensure that the highest and best price would be obtained through the sale process being executed by the Debtor. As a leading expert on the sale of retail and wholesale gasoline distributors and convenience store chains in the United States, from having advised on over 50 transactions in the industry, Matrix consulted with the Committee on matters relating to valuation, prospective buyers, sale process, contract negotiations, auction process, and the selection of the winning bidder.

In 2008, Crescent sold over 237 million gallons of motor fuels through wholesale and consignment fuels supply contracts with dealers and sold over 47 million gallons of motor fuels and $15 million of merchandise through its retail stores. Crescent operates retail stores and distributes fuels in Kansas, Oklahoma, and Missouri. An auction for Crescent’s assets was held on August 13th, 2009 in Kansas City, Missouri which resulted in multiple rounds of competitive bidding. On August 14th, 2009, the Court approved the sale of substantially all of the Debtor’s assets through an offer submitted by Florida Sunshine Investments I, Inc. and Jeff Greene. The transaction is expected to close on or before September 4, 2009.

Tom Kelso, a Managing Director and Principal at Matrix, said “We are extremely pleased our efforts in this Case significantly helped the Debtor in obtaining an offer that, when it closes, will result in excellent value for its assets.” Other professionals representing the Official Committee of Unsecured Creditors in the Case include Francis Lawall, Pepper Hamilton LLP, counsel to the Committee, and Monty Kehl, Mesirow Financial Consulting LLC, financial advisors to the Committee.

About Matrix’s Energy & Multi-Site Retail Group
Matrix Capital Markets Group, Inc.’s Energy & 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. 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 valuation and long term planning engagements. These sectors include companies such as 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.

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.

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Affiliate of Lehigh Gas Corp. Selected as Uni-Marts Stalking Horse

BALTIMORE, MD - August 17, 2009 - Matrix Capital Markets Group, Inc. (“Matrix”) announced today that Kwik Pik, LLC (“Kwik Pik”), an affiliate of Lehigh Gas Corporation, has been selected as the Stalking Horse Bidder in the Uni- Marts Bankruptcy Asset Sale. A motion to approve Kwik Pik as the Stalking Horse has been filed in the Delaware District of The U.S. Bankruptcy Court (“Court”). A hearing to approve the motion is scheduled for September 3, 2009. Additionally, the last date for submitting bids has been extended to September 16, 2009 with a live auction to follow a week later on September 23, 2009.

The Kwik Pik Agreement (“Agreement”) provides for a purchase price of $10 million for the Ohio assets and $6.7 million for the assets located in Pennsylvania and New York. The Sale Procedures in this case allow bidders to bid on the entire company, groups of assets and on individual stores. Under the Agreement approximately seventy (70) of the assets in Pennsylvania and New York will be offered to individual store buyers if offers meet certain value requirements without any “all or none” restrictions. Tom Kelso, a managing director of Matrix, elaborated, “The Kwik Pik Agreement provides the Debtor with a high degree of flexibility that provides the opportunity to truly maximize the value of the assets in an auction process where single assets and smaller groups of assets are available for sale.”

Asset Purchase Agreements for single assets and smaller groups of assets are available for prospective buyers through Matrix. Only qualified bidders, those that have fulfilled the Bid Requirements as defined in the Court approved Auction Procedures and submitted offers by the bid deadline of September 16, 2009, will be invited to attend the auction on September 23, 2009.

About Matrix’s Energy & Multi-Site Retail Group
Matrix Capital Markets Group, Inc.’s Energy & 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. 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 valuation and long term planning engagements. These sectors include companies such as 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.

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.

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Matrix Announces Promotion of Spencer Cavalier to Director

RICHMOND, VA – August 13, 2009 - Matrix Capital Markets Group, Inc. is pleased to announce that Spencer P. Cavalier, CFA has been promoted to Director of the Firm’s Energy and Multi-Site Retail Group (EMR). Over the past ten years, Mr. Cavalier has co-managed many successful merger and acquisition transactions, capital raises, restructurings, and valuations. Most recently, he co-managed two successful sell-side advisory assignments, the sales of Herndon Oil Corporation and Peterborough Oil Company, Inc., during a challenging M&A environment. He has also been actively involved in overall business development for the Firm, and has been instrumental in helping to establish the Matrix EMR Team as one of the top financial advisory groups in the energy and multi-site retail industry.

Tom Kelso, a Managing Director and Principal at Matrix, said “Mr. Cavalier is an exceptionally accomplished investment banker and this promotion is long overdue and richly deserved. His efforts have resulted in exceptional value to our clients.”

Prior to joining Matrix, Mr. Cavalier was a senior business valuation consultant with Ellin & Tucker, Chartered, a nationally recognized business valuation, consulting and accounting firm and a commercial lender with NationsBank (now Bank of America). As a holder of the Chartered Financial Analyst designation, he is a member of the CFA Institute and is also recognized as an Accredited Senior Appraiser by the American Society of Appraisers. He is qualified as a Series 7 and Series 63 FINRA General Securities Representative. Mr. Cavalier holds a B.S. degree (with honors) from West Virginia University and an M.B.A. from Baylor University. He is actively involved with The Bennett Institute’s Physically Challenged Sports Program at Kennedy Krieger and previously served on the Board of Visitors for University of Maryland's Hospital for Children and the Board of Directors for The CollegeBound Foundation.

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Matrix Capital Markets Group Announces the Successful Sale of Convenience Stores and Travel Centers for Herndon Oil Corporation

RICHMOND, VA – June 30, 2009 - Matrix Capital Markets Group, Inc. (Matrix) announced today the successful sale of thirty-eight (38) operating convenience stores and travel center units, along with one (1) additional fee simple property, owned by Herndon Oil Corporation (Herndon) to The Pantry, Inc. (NASDAQ: PTRY). The units sold comprised Herndon’s Mobile, Alabama – Pensacola, Florida marketing division and were located in Alabama (31), Florida (6), Louisiana (1), and Mississippi (1). Herndon, based in Abbeville, AL, will continue to operate its remaining convenience store assets located in the Dothan, AL region.

Matrix provided merger and acquisition advisory services to Herndon, which included valuation advisory, asset marketing through a structured sale process, and negotiation of the transaction. Herndon directly operated all of the assets, consisting of thirty-two (32) fee simple units and seven (7) leasehold units. Headquartered in Sanford, N.C., The Pantry, Inc. is the leading independently operated convenience store chain in the southeastern United States and one of the largest independently operated convenience store chains in the country. With the acquisition of the Herndon units, The Pantry operates approximately 1,679 stores in eleven (11) states under select banners, including Kangaroo Express®, its primary operating banner.

David Herndon, Chief Executive Officer of Herndon commented, “The Matrix team did a great job of representing us throughout the entire process, and I would not hesitate to recommend them to anyone considering their services in the future.”

Tom Kelso, Managing Director and head of Matrix’s Energy and Multi-Site Retail Group, along with Spencer Cavalier, Vice President and Matt Murphy, Associate, managed the transaction. Mr. Kelso added, “The Pantry’s acquisition team did an excellent job of working with our client to complete a successful transaction which was truly a win-win for both parties. We have had a long-term relationship with David Herndon, and it was an honor to represent him in this significant divestment.”

Matrix’s Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the energy and multi-site retail sectors. 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 valuation and long term planning engagements.

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Matrix's Energy & Multi-Site Retail Group Announces the Successful Sale of MAPCO's East Coast Branded Convenience Store

RICHMOND, VA - May 15, 2009 - Matrix Capital Markets Group, Inc. today announced the successful sale of certain convenience store assets on behalf of MAPCO Express, Inc., a subsidiary of Delek US Holdings. As of Mar. 31, 2009, 24 of MAPCO’s East Coast branded convenience stores had been sold.

All of the East Coast branded stores, which MAPCO acquired in 2001, are company operated and located in Central and Eastern Virginia. Matrix was engaged to structure and manage a confidential, competitive, sale process. The marketing process resulted in the sale of ten (10) stores to one large regional convenience store chain. The remaining stores were sold to various other parties.

Tom Kelso, Managing Director and Head of the Energy & Multi-Site Retail Team at Matrix Capital stated, “We are very pleased to have advised MAPCO on this transaction which resulted in the successful sale of most of their Virginia-based retail locations.”

Cedric Fortemps, a Vice President at Matrix, continued: “As the leading convenience store M&A advisor in the country, we were able to leverage our breadth of knowledge and contacts to facilitate the sale in a timely and efficient manner.”

About MAPCO Express
MAPCO Express, Inc., is a division of DELEK US Holdings, Inc. With headquarters in Brentwood, Tenn., DELEK US operates more than 450 convenience stores under the MAPCO Express®, MAPCO Mart®, East Coast®, Discount Food Mart™, Fast Food and Fuel™, and Favorite Markets® brand names. Stores are located primarily in and around Memphis, Chattanooga and Nashville, Tennessee, northern Georgia and northern Alabama.

Matrix’s Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the energy and multi-site retail sectors. 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 valuation and long term planning engagements.

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Matrix Joins the Petroleum Marketers Association of America

RICHMOND, VA - February 26, 2009 - Matrix Capital Markets Group, Inc. is pleased to announce that it has joined the Petroleum Marketers Association of America (PMAA) as a National Partner. According to Tom Kelso, a Managing Director & Principal at Matrix and head of the firm’s Energy and Multi-Site Retail Team, “Joining PMAA reflects our continuing support of petroleum marketing and convenience store organizations throughout the United States. We are particularly excited about the opportunity to partner with PMAA and the great work they are doing to advance the issues critical to petroleum marketers.”

Matrix’s Energy and Multi-Site Retail Group is recognized as the national leader in providing transactional advisory services to companies in the energy and multi-site retail sectors. 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 valuation and long term planning engagements.

About Matrix Capital Markets Group
Matrix Capital Markets Group is a leading middle market investment bank headquartered in Richmond, Virginia. Since 1988, Matrix has focused on providing merger & acquisition and financial advisory services for corporate and privately-held companies, including sales and divestitures, Staged Liquidity Transactions®, management buyouts, and debt & equity placements.

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Matrix Announces Two Key Personnel Moves

RICHMOND, VA - February 19, 2009 - Matrix Capital Markets Group, Inc. is pleased to announce that Vance Saunders has been promoted to Associate in the firm’s Energy and Multi-Site Retail Group. Mr. Saunders has been with Matrix since July, 2006 and has worked on a number of successful transactions including Huffman Oil Company, Rennie’s, C.R. Quesenberry, Neighborhood Convenience, Zoots and East Coast.

In addition, Matrix is pleased to announce that Kimberly Wagner has joined the firm as an Analyst in the firm’s Energy and Multi-Site Retail Group. Ms. Wagner is a 2008 graduate of the McIntire School of Commerce at the University of Virginia. With the addition of Ms. Wagner, the firm’s Energy and Multi-Site Retail Group now includes seven dedicated professionals and one full-time support person.

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