Matrix Capital Markets Group Advises Uni-Marts in the Acquisition of BP Assets in Youngstown, Ohio Market
RICHMOND, VA – January 16, 2007 – Matrix Capital Markets Group, Inc. announced today the successful closing of Uni-Marts’ acquisition of 28 BP retail and wholesale fuel assets in the Youngstown, Ohio market. Matrix provided acquisition advisory services to consummate the transaction. Tom Kelso, Managing Director and Head of the Energy and Multi-Site Retail Group at Matrix, and Spencer Cavalier, Vice President, managed this transaction.
Founded in 1972 by Henry Sahakian and headquartered in State College, Pennsylvania, Uni-Marts is one of the largest, privately held petroleum marketing and convenience store operators in the U.S. With the addition of BP’s Youngstown, Ohio units, Uni-Marts will have 288 units located in Pennsylvania, New York, and Ohio marketing over 180 million gallons of motor fuels annually.
Of the 28 acquired sites, Uni-Marts will directly operate 21 BP-branded retail sites and supply 7 BP-branded dealer operated retail sites. Under the terms of the agreement, all sites will remain branded BP.
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.