Matrix Announces the Successful Sale of NEMO Oil Company
RICHMOND, VA – July 2, 2018 – Matrix Capital Markets Group, Inc. (“Matrix”), a leading, independent middle-market investment bank, is pleased to announce the sale of NEMO Oil Company, d/b/a New England Motor Oil (“NEMO” or the “Company”) to a subsidiary of a publicly-traded company. The transaction closed on June 29.
Founded in 2000, NEMO is a leading lubricants distributor to customers throughout New England. The Company has a nearly two-decade relationship as a Motorcraft bulk oil distributor, servicing a broad range of customers, including Ford dealers and tire and service chains. Headquartered in Lawrence, MA, NEMO has benefited from its favorable positioning in servicing the robust markets of Boston and Concord, in addition to the broader New England geography.
John Pluck, founder of NEMO commented, “We are excited to enter this next chapter for NEMO. The overlapping footprint between our business and the acquirer’s will certainly benefit our collective customer bases for years to come. Perhaps most importantly, we are overjoyed that our valued employees will be retained by the acquirer.”
Matrix served as exclusive financial advisor to NEMO, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction. The transaction was led by David Shoulders, Managing Director and William O’Flaherty, Vice President. Robbie Nickle, Associate, also advised on the transaction.
Regarding Matrix’s services, Mr. Pluck noted, “Matrix was able to run an expedited and efficient process that yielded an excellent outcome for our family and the business. We sincerely appreciate the efforts of David, William, and Robbie.”
Mr. Shoulders added, “We were thrilled to have been engaged by the Pluck family to assist them in the sale of their business. We’re pleased to have found an outcome that met all of the shareholders’ objectives.”
Murtha Cullina LLP served as legal counsel for NEMO.