Matrix Provides Corporate Finance Advisory To Pester Marketing Company in Refinancing & Expanding Senior Credit Facilities
BALTIMORE, MD – APRIL 3, 2012 – Matrix Capital Markets Group, Inc. (“Matrix”) announces the successful refinancing and expansion of Pester Marketing Company’s (“Pester” or “Company”) senior credit facilities and treasury management services. Pester management sought to consolidate, expand and reconfigure its debt capital structure and treasury management services to better suit the more sophisticated financial needs of the growing company. RBS Citizens, N.A. (“Citizens”) has become the Company’s primary senior lender and treasury management services provider.
Founded in 1955 and headquartered in the Denver, Colorado suburb of Greenwood Village, Pester is an operator of forty-nine (49) retail convenience stores, which trade as “Alta”. Through its wholly-owned subsidiaries, Alta Fuels, LLC and Alta Transportation, LLC, the Company distributes and transports motor fuels and lubricants to wholesale, commercial and agricultural customers. Pester is one of the largest and most diversified privately-held convenience retailers and petroleum marketing companies in the U.S. with a marketing territory that expands through Colorado, Kansas, Nebraska, and New Mexico.
Jack Pester, Chairman of Pester, commented, “Matrix, who has previously performed valuation work for the Company, did a splendid job offering a choice of four bank proposals. RBS Citizens was chosen because of their cash management and industry expertise.”
Matrix provided corporate finance advisory and execution services to Pester, including debt structuring, valuation, marketing, and negotiation. The transaction was managed by Spencer Cavalier, Director and Vance Saunders, Senior Associate, with assistance from Tod Butler, Vice President of Business Development. Spencer Cavalier commented, “Pester is one of the most unique companies in the industry due to operating in multiple channels, but also by being a blender of biofuels with conventional fuels, especially through proprietary biodiesel blends. This blending capability has contributed significantly to the Company’s growth in all channels. The Company’s debt capital deck and treasury management are now better structured for continued growth. Citizens did a great job of understanding the structure and services we were seeking.” Citizens’ specialized finance group was led by Michael Phelps, Channing Lefebvre, and Steven Wheelon.
“This transaction is our seventh (7th) completed energy engagement in the first (1st) quarter of 2012,” commented Thomas Kelso, Managing Director and head of Matrix’s Energy and Multi-Site Retail Group. “This demonstrates once again that Matrix is the leading investment banking and financial advisory firm in the downstream energy sector. We thank Mr. Pester and his team for their confidence in us.”
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.
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. Over our 23 year history, Matrix has served clients in a wide range of industries, including industrial manufacturing and distribution, building products, capital equipment, consumer products and petroleum marketing & distribution.
Securities offered by Matrix Private Equities, affiliate of Matrix Capital Markets Group, Inc., Member of FINRA and SIPC.