“We are very pleased with the assistance Matrix provided in divesting our Holiday franchised fuel and convenience stores. This is part of Coborn’s overall strategy to focus our growth efforts on the grocery store market. Matrix’s efforts have led to the successful sale of our Holiday franchise stores to our long-term franchisor partner, Holiday. The transaction provides continuity to our store employees and customers, as the stores will remain Holiday branded and continue to accept the Coborn’s MORE Rewards program. Matrix did an excellent job at meeting our strategic objectives in the sale.”Chris Coborn, CEO | Coborn’s, Inc.
“I have known the Matrix team for many years and was aware of the outstanding reputation that they have in the industry. Their knowledge of the market and skill in executing a highly effective M&A process made them the clear choice when deciding who to hire as an advisor. Matrix was instrumental in achieving my goals for the sale of Springer Eubank.”W. Cecil Worsley, III, President & CEO | Springer Eubank Company, Inc.
“Matrix demonstrated an extraordinary understanding of the downstream petroleum business. They were patient, diplomatic, intelligent and trustworthy. It’s not easy handing the keys to a multigenerational family business to just anyone. My sincere thanks to Cedric Fortemps and Mike Tucker on a job well executed from start to finish.”Peter Zelken, President | Mystic Oil Company, Inc.
“In 2019 Matrix identified our deficiencies from a buyers prospective via their detailed evaluation. Our team immediately embarked on a new approach to market. We asked Matrix to re-evaluate in 2022 whereupon the decision to ‘go to market’ was made. I would recommend this two-step process to anyone considering the anguishing decision to sell as it can improve value considerably. Transitioning out of the essential petroleum business has been an emotional yet a timely decision that Matrix facilitated professionally.”Jonathan Mapes, President | H.A. Mapes, Inc.
“The Matrix team was exceptional throughout this process. They achieved every objective we set out to accomplish and did so with a level of expertise and professionalism that was remarkable. The entire APS family thanks them for their efforts.”Joe Wesel, Vice President and General Manager | American Producers Supply Co., Inc.
“My partners and I were impressed by the level of commitment and sophistication that Matrix brought to the transaction. Their detailed knowledge of our specific industry, paired with their experience in transaction advisory, created tremendous value for us. We are extremely grateful for their efforts.”George Hauser, CEO | Vital Plastics, Inc.
“Matrix did an exceptional job navigating this highly complex corporate carve-out. I commend their knowledge of these nuanced transactions and am grateful for their assistance. We believe this divestiture creates exceptional value for all parties. The Freije Supply team is acquiring a complementary business with exceptional recurring revenue, and I’m confident they’re positioned to grow the business line. This additional capital allows APD to focus on and grow our core business, generator sales and service, while also supporting our growth in yacht and marine services, as well as our expansion into new physical locations throughout the Caribbean.”Jason Hebert, President | Antilles Power Depot Inc.
“We are proud to add this most recent portfolio of Pet Supplies Plus stores to our existing portfolio and further diversify and expand our business. We are committed to operating best-in-class veterinary hospitals and Pet Supplies Plus stores, and we do that by forging personal relationships with our clients, patients, team members and the communities that we serve. As we continue to expand our presence, we were fortunate to work with Matrix to structure and intermediate this important transaction. Their experience, functional expertise, and objective approach were critical to securing capital on terms that were very attractive to the Company.”Dr. Steven Whatley, Chief Executive Officer | Apollo Veterinary Medical Hospitals
“Matrix proved to be an indispensable partner and advisor to WTG on the divestiture of these assets. We appreciate all the efforts of the Matrix team over the course of this transaction.”John Steen, Chief Executive Officer | WTG Fuels Holdings, LLC
“This transaction was complex and lengthy in duration, yet the efforts, professionalism, and attention to detail from the entire Matrix team have made it as seamless as possible to finalize the agreement and partnership between TBC and Mavis.”Brian Maciak, Executive Vice President & General Counsel | TBC Corporation
“It was a pleasure working with the team at Matrix throughout this process. They exceeded our expectations and displayed an extremely impressive depth of knowledge not only of our business but the entire industry. We believe that United Pacific will take the stores to the next level. They have a fantastic retail team and have welcomed our employees with open arms. It was important to us to find a company that valued our team as much as we did, and United Pacific did just that. We’re also very excited to bring United’s wholesale customers and team into the Boyett Family and look forward to growing the network of dealers.”Scott Castle, President | Boyett Petroleum
“As we continue to expand our presence, we were fortunate to work with Matrix to structure and advise on this important acquisition. Their experience, expertise, and objective approach were critical to securing capital on terms that were attractive to the company in relatively challenging market conditions,”Zach Santmyer, President & Chief Executive Officer | Santmyer Companies, Inc.
“I would like to thank David, Spencer, John and Alex for all that they have done in helping our family exit the convenience store business that we have been involved in for over 50 years. Matrix was instrumental in shaping the way we went to market, how we evaluated bids and eventually choosing PMG as the successful bidder. My family is extremely grateful to Matrix for guiding us through the whole process.”Chris Neal, President | Li’l Thrift Food Marts, Inc.
“The Matrix team was extremely professional and competent, and worked tirelessly to generate a result that exceeded our expectations. I would like to thank Spencer, Andrew, and Nate for all of their effort and guidance. Job well done!”Jere Johnston, President | Alpena Oil Company, Inc.
“My family and I have been extremely impressed with the Matrix Team’s performance and competency in leading this important effort. The professionalism, industry knowledge, and work ethic they displayed were exemplary and we couldn’t have effected this successful transaction without them.”Randi Settleman, President | Bond Distributing Company
“This acquisition is very complementary to our existing business divisions, and we look forward to welcoming both the customers and employees of the seller into the greater Tri Gas family of businesses. We are especially excited for the expansion opportunity that this presents to Comfort Plus Services. We would also like to thank the team at Matrix for their leadership throughout the transaction. Their attention to detail and proficiency led to a mutually beneficial closing for both parties.”Keith McMahan, Chairman & CEO and Nash McMahan, President | Tri Gas & Oil Co., Inc.
“We were fortunate to work with Matrix to structure and intermediate this important financing. Their experience, expertise, and detailed approach were critical to securing capital with very attractive terms.”John Phelps, President and CEO | Carroll Independent Fuel, LLC
“It was not an easy decision to sell the company that we had built over the past century. The Matrix team provided professional guidance and advisory expertise throughout the entire process and were truly instrumental in securing a successful outcome. CrossAmerica was a natural fit as a buyer for CSS as they share our long tradition of excellence and strong commitment to their customers and employees.”Chris Riley, President | Community Service Stations, Inc.
“It has been a pleasure to be involved in this family business serving the motoring public for all these many years. It has been an honor to work alongside the best group of people I could ask for. We had very specific guidelines in choosing a buyer. Matrix was instrumental in that process. I am confident that we made the right choice with PMG.”Louis Cox, President | Holt Oil Company, Inc. d/b/a Cstore
“The Matrix Team embraced our big idea of creating a behavioral health campus, despite the many challenges wrought by the pandemic, and constantly shifting capital markets. They got to know us and our vision and expertly crafted a complex financing package. Their dedication and expertise have enabled Sanford Behavioral Health to significantly expand our services to address the mental health needs throughout Michigan and beyond.”David Green, Chief Executive Officer | Sanford Behavioral Health
“It has been an honor and a pleasure to serve the people of Hampton Roads by providing motor fuel and other products for the past 30 years. We are very thankful for the many talented people who helped build Tidewater Convenience into what it is today. When Carol and I agreed that it was time to retire, we knew that we could rely on Matrix to find the next steward of our business. We are very satisfied with the result and know that Global Partners will continue our legacy of delivering high-quality service in each of our locations.”Chuck Weaver, President | Tidewater Convenience, Inc.
“The Matrix team was instrumental in leading the Quarles organization through the process of marketing the business, finding the best value for each line of business as well as guiding us through the complexity of a multiple buyer sale process.“Paul Giambra, CEO | Quarles Petroleum, Inc.
“To add the people and assets of a storied company such as Jet Star is a great accomplishment for us. Working with Darryl & Brian Guiducci and the rest of the Jet Star team through the acquisition was a delight. To add the talented administrative, dispatch, maintenance and driving personnel of Jet Star to Penn Tank Lines is a real coup for us. Cedric, John and the Matrix team were instrumental in helping us evaluate, negotiate and ultimately get to the finish line on this deal. Matrix is a trusted partner adding great value to Penn Tank Lines and we can’t thank them enough for their efforts in getting this deal done.”Steve McSherry, President | Penn Tank Lines, Inc.
“My partners and I have been extremely impressed with the Matrix Team’s performance throughout the entire process. The professionalism and work ethic they displayed were exemplary.”Jim Eberle, President and CEO | MXL Industries, Inc.
“It was a difficult decision to sell the business. I am very thankful for the talented people that helped us build the Company over the years. I enjoyed working with Cedric and his team at Matrix. They managed the sale from valuation to closing with an organized and professional process and I am very pleased with the outcome. In addition, Otto Konrad and his legal team at Williams Mullen were excellent to work with and helped make this transaction a success.”Todd Blevins, President | Haywood Oil Company, Inc. d/b/a Peak Energy
“We appreciate Matrix’s thorough and professional representation throughout this transaction. With plans to open twenty new stores this year, CEFCO will continue to build, open and operate stores that fit its vision of being a first-tier convenience-driven retailer with engaged employees who sell great food and provide great service in an exceptionally clean environment.”Raymond Smith, President | Fikes Wholesale, Inc. d/b/a CEFCO Convenience Stores
“The Matrix team was instrumental in identifying Superior as a good match to acquire our delivered fuels business. They guided us through the entire process from marketing our business to buyers to managing through the closing process. We’re pleased to transition our delivered fuels business to a company that shares our values of providing a high level of customer service and values the contributions of our associates to the success of our business.”Paul Giambra, CEO | Quarles Petroleum, Inc.
“We are proud to add Magnolia Bluffs Casino Hotel to our portfolio of gaming assets and further diversify our business. We are committed to operating first class gaming facilities, and we do that by creating lasting relationships with our guests, team members and the communities that we serve. We look forward to welcoming Magnolia Bluffs guests and team to the Saratoga family. As we continue to expand our presence, we were fortunate to work with Matrix to structure and intermediate this important financing. Their experience, expertise, and objective approach were critical to securing capital on terms that were very attractive to the Company.”Sam Gerrity, Chief Executive Officer | Saratoga Casino Holdings
“Throughout the entire process, the Matrix team provided excellent guidance and advice. Their determined, yet flexible approach and proven methodology allowed for the best outcome for all parties. Simply put, we could not have achieved this without them.”Rex Davis, President | Melvin L. Davis Oil Company, Inc. d/b/a Davis Travel Centers
“After 40 years in a great industry that gave me and my family so much, we decided to focus on other areas of our business. We engaged Matrix to advise us on this emotional process, and we couldn’t be happier with the result. We feel Global is a good fit culturally and feel confident our brand and employees will be well taken care of.”Jeffrey Miller, President | Miller Oil Company, Inc. d/b/a Millers Energy
“We appreciate the work and professionalism of Matrix in helping to market and complete the sale of these seven sites as required by the FTC, allowing us to complete the purchase of 26 sites in Connecticut. We are confident the assets will be well managed by PMG.”Mark Cosenza, Senior Vice President | Global Partners LP (NYSE:GLP)
“We made a great decision when we selected Matrix to be our sell-side advisor for this transaction. This was an emotional transaction for our entire team and Matrix was by our side guiding us the entire way. Cedric, David and the whole Matrix team are second to none for their professionalism, industry knowledge, attention to detail and their tireless work ethic. We have to also commend Matrix for connecting us with Monfort Companies, who is a great fit for all of our outstanding transferring team members and will be a great steward to carry on the legacy of the Jack’s brand as they continue to expand.”
Tyler Wolfe, Co-Operating Partner | Penta Operating, LLC d/b/a Jack’s Convenience Stores
“We were so fortunate to have worked with Matrix as our advisor. They have the most dedicated, super-charged team in the investment banking industry. They are here to get things done. We could not have done this without them.”Debbie Berger, CEO | Dynamic Mobile Imaging
“I have been impressed with Matrix at every stage in this process. They have shown integrity and professionalism throughout the engagement and I am so grateful for their efforts. I have no doubt they found the best partnership for the Company and our employees.”Rick Campbell, Founder and CEO | ICAT Logistics, Inc.
“Having been through a few previous acquisitions and dispositions, we selected Matrix based on their structured approach to the sale of our company. Although it was a tough decision to sell, we believe it was the right time for us to exit the industry. Matrix was very professional and executed on an efficient process to achieve our goals and maximize the value of our assets. It was a pleasure working with Vance, John, and Kyle.”Brian Baker and Keith Baker, Co-CEOs | Slidell Oil Company, LLC
“Deciding to work with Matrix was one of the best decisions we made when we decided to move forward with the sale of our business. Their expertise, experience, professionalism, and industry knowledge were invaluable to us throughout a very complex process. They provided thoughtful advice as we made some of the most difficult decisions of our life. We greatly enjoyed working with the entire team at Matrix.”Colleen McGlinn, CEO | Tri-State Petroleum Corporation
“After much deliberation, the Board of Diversified Energy made the difficult decision to divest itself of its propane company assets in favor of its electric cooperative owners. Over the years our management team has done a remarkable job in bringing value to Diversified Energy’s owners. We are also extremely grateful to our team at Matrix who worked diligently to bring this deal to a very beneficial conclusion.”Stephen Hamlin, Chairman of the Board | Diversified Energy, LLC
“After much consideration, the Greinke family made the difficult decision to sell SC Fuels. The SC Fuels team has done an impeccable job building and strengthening our geographic footprint within our core markets. We look forward to the continued opportunities and growth under Pilot.”Steven Greinke, CEO | Southern Counties Oil Co., L.P. d/b/a SC Fuels
“Selling a business is a difficult decision. Matrix was able to lead us through the process and provide timely advice to help us make the best decision possible.”Joseph Rusher, Vice President and Bobby Rusher, President | Rusher Oil Company and Rushco Food Stores, Inc.
“Given how long of a legacy my family and I have had with this Company, selling was a very difficult decision for me. With the help of a great team around me, we built a first-class operation and many team members will be transitioning to GPM and continuing to provide excellent customer service to our customers throughout eastern North Carolina. While the choice to sell the Company was not an easy one, I have known Spencer, Sean, and the broader Matrix team for over a decade, so selecting them to advise on the sale made the decision that much easier for me. Spencer, Sean, and Kyle did an exceptional job during every step of the transaction. My team and I were very pleased with their professional and thorough advice and tireless effort they put forth throughout the entire process. They have been a pleasure to work with.”Judson Pope, President | E.J. Pope & Son, Inc. d/b/a Handy Mart
“Today we build on this legacy by adding more talented associates and great locations to the Jackson family of companies to broaden who we serve and how we serve them. Matrix assisted us in the transaction by providing invaluable advice, analysis and projections through the use of multi-level models and key guidance on strategy.”John Jackson, Founder and CEO | Jacksons Food Stores, Inc.
“Matrix did a fantastic job in managing a complex sale process. Their entire team was diligent, responsive, and extremely hard-working. We appreciate their efforts and look forward to future opportunities to work together.”Barbie Spear, Managing Director of Alliance Holdings | Spencer Turbine
“Ron, Bob and I want to thank all of our talented and dedicated employees over the years for building Lykins into one of the leading, diversified energy providers in the industry, as well as one of the largest private employers in Ohio. I also want to acknowledge Matrix, who structured and diligently executed on the sale of the enterprise that maximized shareholder value.”Jeff Lykins, President and Owner | Lykins Energy Solutions
“Matrix’s unparalleled expertise advising companies in our industry and their relationships with the best potential buyers for our assets was invaluable to the successful outcome of our transaction.”Martin Devino, Chief Financial Officer | Mercury Fuel Service, Inc.
“We have enjoyed working in the convenience store business to service our local communities in Vermont, New York, New Hampshire and Massachusetts. Our relationships in Vermont will continue under the Mac’s Market name, with our neighborhood grocery stores, and we are excited with the prospect of new real estate developments on the horizon. In the meantime, we are confident that Global Partners, a leading petroleum and convenience store operator throughout the Eastern U.S., will exceed our expectations in maximizing the opportunities available to them, using their expertise and abundant resources, in improving and expanding what my father started with nothing more than a 500 square foot store in Fair Haven, Vermont. My thanks and gratitude to our employees, who worked in one of the most challenging industries, and who put the needs of our community before their own, during the pandemic. Many thanks as well to the Matrix team, who worked with me and my staff, to achieve our goal in selling our family business to a well-respected company, like Global.”Jennifer C. Allen, Owner and President | Sherman V. Allen, Inc.
“In Superior Plus, we found an outstanding partner who can carry on the Freeman legacy of excellence in service to our customers, and support for our employees and the communities we serve. Matrix was a key part of this search, and in consummating the transaction. They provided excellent guidance. We cannot thank the Matrix team enough for the support they provided.”Rob Freeman, President | Freeman Gas and Electric Co., Inc.
“It’s been a challenging and complex effort to sell the stores during a pandemic. We are grateful for the efforts of Cedric Fortemps and the Matrix team! I can’t imagine such an undertaking without their expertise and assistance. We look forward to watching the transition to the Buyer with our foothill locations.”Brad Barnett, President | Toms Sierra Company, Inc.
“The expertise that Matrix provided in assisting our company through this process was invaluable. We relied heavily on their experience to attract a high-quality prospective buyer that would align with our company’s core values of world class employee engagement and customer service, while maintaining a strong commitment to safety.”Jeff Van Groningen, President and CFO | Van Unen/Miersma Propane, Inc. and Windmill Propane
“It would not be possible to overstate the value of the fine folks at Matrix in guiding us through this complex process and advising us on the sale of our company. I would highly recommend Matrix to anyone thinking about selling their business.”Rick Van Unen, CEO | Van Unen/Miersma Propane, Inc. and Windmill Propane
“This is an excellent result for the Walker Magnetics’ employees, customers and suppliers. We wish the Company continued success as part of the IMI team. Our relationship with Matrix spans well over a decade. This engagement has done nothing but further our confidence in their abilities to manage a rigorous, detailed process.”Barbie Spear, Senior Vice President and Chief Operating Officer, Alliance Holdings, Inc. | Walker Magnetics Group, Inc.
“We are very excited to forge the next phase of ASAP and could not have found a better home. TrumpCard and ASAP have very similar cultures and recognize that our people are what make us who we are. Matrix has exceeded our expectations across the board. They have been invaluable resources throughout this process and are responsible for this outstanding result. Their work ethic and enthusiasm are second to none.”Angela Hobgood, President and Garland Hobgood, CEO | ASAP Expediting & Logistics
“It was not an easy decision for us to sell the business that our family and employees have spent over 50 years building. It was very important to us that our employees and customers were taken care of with this transaction. We needed to find a firm that could help us with this major decision and we found that with the Matrix team. Spencer and Andrew lead us through the entire sales process from beginning to end. Their expertise in this process helped alleviate a lot of the additional stress that comes with selling your business. We are extremely pleased with the outcome. We chose PacWest Energy, which is also a family business and values their employees and customers the same way we do. We can’t thank Spencer, Andrew and the Matrix team enough for everything they have done for our family, employees and loyal customers.”Jason Callison, Chief Operating Officer | R.M. Parks, Inc.
“Working with the team at Matrix on the sale process, and with Rich Spresser over the past several years has been a very positive experience. While it was time for the current shareholders to monetize their investment, we look forward to seeing Pester grow with Rich’s further stewardship under the new ownership of Fortress and Phillips 66. I am excited to see the businesses continue with such well-respected organizations.”Sam Youngblood, General Partner and Board Chairman | Alta Brands
“We sincerely appreciate the guidance and attention to detail that Matrix provided throughout a very complicated transaction. The sale process was extremely well executed, and we were very pleased with the outcome.”Richard Spresser, President | Pester Marketing Company
“We are thrilled to partner with Stardust. Tom and his people are terrific additions to our team here at Penn Tank Lines. We are excited as well for our customers as we can now offer a more diverse group of services. Cedric, Mike and the Matrix team did a fantastic job of helping us evaluate the opportunity and structure a deal that allowed us to be successful on this acquisition.”Steve McSherry, President | Penn Tank Lines, Inc.
“This acquisition is very complementary to our existing business divisions, and we look forward to welcoming both the customers and employees of the seller into the greater Tri Gas family of businesses. We are especially excited for the expansion opportunity that this presents to Comfort Plus Services. We would also like to thank the team at Matrix for their leadership throughout the transaction. Their attention to detail and proficiency led to a mutually beneficial closing for both parties.”Keith McMahan, Chairman & CEO and Nash McMahan, President | Tri Gas & Oil Co, Inc.
“The Matrix team did an outstanding job working with both sides to arrive at a successful closing.”Tim Genrich, CEO | New West Oil Company, L.L.C.
“Selling our business was one of the most important decisions I’ve had to make not only for our family, but our co-workers too. When we met with Matrix I knew they were the advisors for us, they came prepared. Matrix led us step by step through the process and made sure we were fully aware of how everything would flow. When we began talks with Kwik Trip we were able to present a ‘book’ to them that was clear and thorough. The professionals at Matrix are proven experts in our industry and negotiated a very strong contract. Overall, we couldn’t feel better about our choice in selecting Matrix and Kwik Trip.”Andrew Bowman, President | Stop-N-Go of Madison, Inc.
“We are pleased that our organization will become part of Quarles Petroleum. As a family business with an equally long history, they share our commitment to our customers, our employees, and the communities that we serve. We also appreciate the advisory expertise of the entire Matrix organization in the successful completion of our project.”Chris Earhart, President | Dixie Gas & Oil Corporation
“EnergyUnited Propane, LLC has been a successful business venture for our membership thanks to the support of our members and the leadership of our incredible propane employees. We are very proud of the historic accomplishments that led to this moment and firmly believe that this agreement with ThompsonGas offers tremendous value for EnergyUnited members and EnergyUnited Propane, LLC customers.”Wayne Wilkins, CEO | EnergyUnited Electric Membership Corporation
“After selling the commercial, municipal and transportation businesses back in April, Gary and I reevaluated whether it made sense to continue in the retail business. After much consideration, we decided it was time to move on to other opportunities. It was not an easy decision for us to sell the retail and wholesale businesses our family spent 60 years building. We have had many great relationships with our retail and wholesale customers over the years, and we believe the buyer will be a great fit for our customers going forward. Matrix did an excellent job on getting the sale completed and worked diligently with the Martin Eagle team on both transactions. We really appreciate their meticulous attention to detail and all their hard work.”Steve Martin, President of Operations | Martin Eagle Oil Company
“The AWG brand is nationally recognized for excellent customer service, loyalty to employees, and above all else operating with integrity. I can’t think of a better partner to help Bestway’s employees usher in this next phase of growth. The team at Matrix has been exceptional in every respect. The level of service and support I received was incredible, and they were able to create immense value for my business during the transaction process.”Ernest “Cotton” Speed, III, President | Medical Gas Supply, LLC d/b/a Bestway Welding Supply
“I would like to thank Matrix for handling the sale of my business. They gave my company the same attention and quality of service that they would give to a thousandstore chain. They communicated effectively with me and my leadership team and advised us in a timely and open manner. The sale process was a learning experience for us, but Matrix made it a smooth transition. Their expertise is second to none, and I give special thanks to Spencer Cavalier, Andrew LoPresti, and Nate Wah.”Jim Wadsworth, President | Wadsworth Oil Company of Clanton, Inc.
“Matrix was highly recommended by a friend who sold his propane business using Matrix as his investment banker. Matrix exceeded my expectations. My sincere thanks to Spencer, Sean and John for their thorough 24/7 effort on behalf of the company and Susan Urban.”Ron Brodwater, President | Midwestern Propane Gas Co.
“We would first like to thank the awesome Double Quick team members who, over the last 36 plus years, adopted our core values of ‘Learn, Be Honest, Work Smart Together and Have Fun’, making Double Quick what it is today. We would also like to thank our CFO Barry Schuster, for her support and guidance, Matrix for their financial advisory and transactional expertise, and the Bradley law firm for their legal guidance and professionalism throughout this entire process.”Tom Gresham, President & Partner and Bill McPherson, Partner | Double Quick, Inc.
“It was not an easy decision for us to sell a part of Martin Eagle Oil that our family has built and run for over 60 years. We have had great relationships with our municipal and commercial customers over the years, and the Southwest Transport team has efficiently served and met all our customer delivery requirements. U.S. Venture will be a good fit for this business given their terminal located in Fort Worth and their overall investments in the Dallas-Fort Worth metroplex. Gary and I believe that U.S. Venture, also a family-owned company, will be a great place for our employees to continue their careers. I really appreciate all the efforts of the Matrix team in bringing this sale to fruition; they have worked tirelessly to market and complete the transaction.”Steve Martin, President of Operations | Martin Eagle Oil Company
“When we approached Matrix, we asked them to explore alternatives to create liquidity for a departing shareholder. Their marketing efforts generated attractive opportunities from a wide range of capital providers; however, we ultimately decided that a minority capital raise through a senior debt instrument was the right solution and best achieved our objectives. The Matrix team was extremely professional throughout the process and did an excellent job managing a highly complex transaction.”Bryan Johnson, CEO | Shades of Light, LLC
“With the sale of this propane rail terminal, Matrix helped us divest a non-core asset. We will continue to focus on our core business areas as well as accelerate the search for acquisitions that support our strategic growth targets.”Paul Giambra, President and CEO | Quarles Petroleum, Inc.
“It was a difficult decision to sell our family-run propane business after over 50 years of operation. We wanted to make sure we found a buyer that would continue the same level of dedication to our employees, customers, and the communities we serve. Matrix’s professional guidance and support throughout the entire process proved invaluable in achieving a very successful outcome.”Tim Boulden, President & Mike Boulden, Vice President | Boulden Brothers Propane, Inc.
“I am very pleased and have enjoyed working with the Matrix team. Matrix has extensive knowledge and experience in the energy industry and structured an extremely well-run process. Their guidance helped us from start to finish, and they were always there when we needed advice and support.”Ted Tanaka, CEO | IPC (USA), Inc.
“This was a long and thought out process to come to the decision of putting our fuel business on the market. With the experience, knowledge and professionalism of Matrix, we felt very comfortable and confident in the process. We know we made the right decision for the right reasons, and Matrix has made this a smooth and excellent transaction.”Doug Hartley, President | The Hartley Company
“After more than 68 years as a family-owned business in the marine industry, we are incredibly pleased to partner with Patrick which will continue to support the G.G. Schmitt team and our plans for continued growth and expansion. We are excited to be a part of the Patrick family of brands and are looking forward to the next phase of executing on the many strategic initiatives and opportunities in front of us. We couldn’t have asked for a better representative than the Matrix team during this critical process. Their transactional expertise matched with their knowledge of the marine sector were instrumental in helping us achieve this outcome. We are so appreciative of all of their efforts.”Ron Schmitt, Chief Executive Officer | G.G. Schmitt & Sons, Inc.
“Our Board of Directors, executive management team, and Schmuckal family members explored many options before selecting Matrix to run a structured process and guide us through the sale of the family business. While it is emotional and challenging to sell a business, we felt the time was right for the family to find another company with the culture of a “family owned and operated” business to take our operation into the future. Matrix provided a high-level of professionalism and ran a very productive process that helped us accomplish our goal. We thoroughly enjoyed working with the Matrix team, including Spencer Cavalier, Andrew LoPresti, and Martin McElroy, and are genuinely excited for our customers, employees, and shareholders to be selling our business to True North Energy.”Kevin Severt, CEO | Schmuckal Oil Company
“We are thrilled with the outcome of this transaction and what it means for [RESCO CEO] Mike Bourn and his tremendous team. We’ve enjoyed our partnership with Mike over the past six-plus years and have the utmost confidence that RESCO’s employees and valued customers will yield significant benefits as a result of this transaction.” Regarding Matrix’s services, Mr. Moore added, “Matrix assisted RTK in acquiring RESCO in 2012 and we couldn’t be more pleased to have utilized their services again in this transaction. The team was extremely professional throughout the engagement and ensured that the ultimate outcome was beneficial for all constituents.”Jeff Moore, Principal and Founder of RTK | Richmond Electric Supply Co., LLC
“I have no doubt that RESCO’s partnership with the Locke team will be extremely beneficial for our valued customers, vendors, and employees. I look forward to continuing to grow our footprint in the Mid-Atlantic and Southeast with the support of the Locke organization. As this chapter of ownership closes, I am thankful to my partners at RTK for their commitment to the business over the past several years. I am also extremely grateful to the team at Matrix for their guidance throughout this critical process.”Mike Bourn, CEO | Richmond Electric Supply Co., LLC
“Selling one’s life work is a very challenging and emotional decision. Cedric and the Matrix team were extremely helpful in navigating this process. Their support and help, blending together the desires of us and the buyer, were invaluable. We thank them immensely. I would also like to thank the entire Apache team, our employees, customers, and suppliers. Your dedication was our success. Additional thanks goes to Jim Castle for having the faith and foresight to become partners with a 23-year-old over 27 years ago. Finally, a special thanks goes out to my lifelong friend, teammate, and brother, Willie Castle, whose decision to join us 12 years ago enabled us to take Apache to a new level. I wish my late father was around to see this”Christopher Ohl, President & Managing Partner | Apache Oil Company, Inc.
“The team at Matrix has been tremendous throughout this entire process. Their enthusiasm and dedication to finding the best transaction for my family and Certified Tire has been tireless. I would recommend Matrix to anyone and I am incredibly grateful for their efforts.”Jeff Darrow, CEO | Certified Tire & Service Centers, Inc.
“It was not an easy decision to sell a family run business of 40 years. My grandfather and father built a strong foundation for the growth of the Markette brand. That growth would not have been possible without our outstanding employees and loyal customers. Bunky and I wanted to ensure that the new owners valued the family-oriented culture of Markette and upheld the values of excellence in customer service and commitment to community service. Matrix assisted us in finding new owners that fit the bill. In addition, Matrix provided strong support and professional guidance through every step of the process to ensure a smooth transition to the next phase. Matrix was the right choice for us.”Lex West, President | West Oil, Inc.
“In the face of what could have been an exhausting and emotional process for Joe and I, the Matrix team was an unwavering source of support, providing professional and thoughtful guidance throughout the engagement. We can’t imagine getting this transaction done without their assistance, and we feel fortunate that we selected Matrix as our advisor.”Andy McSweeney, President | Tri-State Utilities Company
“The team at Schmitt Sales has done a tremendous job as we expanded our footprint in the Northeast through the leadership of Peter Glor. As we all know, this business can be unpredictable and challenging. The friendships that we have created not only with our customers, but colleagues in the industry have added to the success that we have enjoyed. I’d like to thank my dedicated team of employees for their hard work throughout the years. I’d also like to thank Matrix for their superior customer service and support through this entire process.”Maureen Schmitt, CEO | Schmitt Sales, Inc.
“Lots of emotions were involved in making our decision to divest. While those emotions are important, there are business interests that need to be organized. Any family business considering to make such a change must have professionals that advise them well in advance of the ultimate sale. I could not dream of attempting a deal alone. The Matrix team are well versed in the intricacies of our industry and gave us good counsel as we navigated the transaction. Additionally, we are happy to call the team friends,”Carlton Revere, President and CEO | Revere Gas, Inc.
“We’re very grateful for the guidance and insight Matrix provided to help Giant Eagle secure this growth opportunity. At GetGo, our positioning of taking the ‘cons out of convenience’ means we offer the highest quality fresh foods, products and services to our customers. Our acquisition of the Ricker’s chain supports this strategy, and we look forward to bringing together the best of both businesses in Indiana.”Polly Flinn, Executive Vice President | Giant Eagle, Inc.
“The decision to sell our family business was a hard one. The compassion, professionalism and attention to detail that Matrix brought to the project made the decision easier. They worked with us and on our behalf from beginning to end. We are thrilled with the outcome.”The Borer Family | Petr-All Petroleum Consulting Corporation
“Chris and I have been overwhelmed by the level of service that the Matrix team has provided us and our business. Throughout a complex process for us, we always felt they provided exceptional advice and guidance. They have gone above and beyond our expectations and found a perfect home for EMC.”Ed Forbes, CEO | Engineered Metals and Composites, Inc.
“We are confident that our dedicated employees and loyal customers will be well taken care of by Molo Petroleum, LLC and Andeavor. Matrix did a fantastic job for us and I am very thankful for their professionalism throughout the entire process. Their thoroughness and attention to detail was extremely impressive.”Mark Ogren, President | Croix Oil Company
“It has been a pleasure to work with Sean Dooley and Spencer Cavalier and the entire Matrix team over the last few months to successfully undertake and conclude this project. Their professionalism and expertise has exceeded any expectations that I might have had on how this endeavor might go. And I want to compliment the folks at SMO and The Wills Group as well for their outstanding cooperation to diligently consummate this project. Finally, I want to express my deepest appreciation to the employees of Jiffy Mart and Tevis Oil for their wonderful efforts to create and sustain a wonderful group of stores in our community over the past thirty years.”Jack Tevis | Tevis Oil, Inc.
“I would like to thank all of our employees who helped build our company over 37 years. Coming to the U.S. with only $100, my parents are the epitome of the American Dream. This was a very difficult process to go through, but having a team like Matrix made it much easier. They made sure that every detail was considered to ensure we were in the best possible situation. Our family is also thankful to our legal team led by Richard Few and his associates at Parker Poe for guiding us through the legal process.”Shrivastava-Patel, President | Carolina Convenience Corporation
“Matrix has been a great advisor and partner throughout this entire journey. They conducted a thorough financial analysis and handled detailed contract negotiations which resulted in a successful conclusion. Matrix’s knowledge and experience in this area definitely helped us increase the value of our business. I would like to thank God for his blessings and support of all the employees and valued customers who m the business successful.”Madhu Shrivastava, Chairman & CEO | Carolina Convenience Corporation
“I would like to thank all of our employees who helped build our company over many years and Matrix who was a pleasure to work with.” Mr. Bryan Cairns added, “The Matrix team did a tremendous job. This was quite the process to go through, but having such a professional team directing us with their tireless work ethic and attention to detail made the process that much easier.”Tony Cairns, President | Champlain Oil Company, Inc. and Coco Mart, Inc.
“When it came time to market our stores, I wanted to hire the best advisor I could find. I will go through this process of selling our fourth-generation company only once in my life and am confident Matrix was the best partner to help me get it right. Matrix did a fantastic job managing the process from beginning to end, exceeding our expectations every step of the way, and I am extremely pleased with the service they provided. I am delighted to have a fine company like Enmarket purchasing our business and retaining our wonderful, dedicated team of employees while continuing to service our great customers. I thank God for entrusting me to be the steward of this business, blessing it over the years, and putting the people in place to make this transaction successful for all involved.”Brab McCully, President | Brabham Oil Company, Inc.
“We couldn’t be more pleased with Matrix for their proven industry expertise, transactional insights, and dedication to supporting CHS on this project from our initial conversation through closing. Matrix delivered tenfold and our entire team enjoyed working with them.”Nicholas Colbert, Director of Corporate Development | CHS Inc.
“Finding the right partner in whom to entrust our legacy, our employees and our customers was the highest priority. The Matrix team understood our concerns and guided the process. I strongly believe the Mirabito and Polsinello families are each made stronger by this transaction and we are excited by what the future holds for both of our growing organizations. It is our intention at Polsinello to immediately find new opportunities to grow, especially within our motor oils & lubricants business.”Louis Polsinello, Jr. | Polsinello Fuels, Inc.
“Matrix did a fantastic job representing our company to achieve the best result for our family and employees and honoring our 47 year legacy. Matrix found us the right buyer that would be the best fit for our employees and also provide us with our desired transaction structure. Throughout the entire transaction process, Matrix provided a high level of professional guidance and support and led us through all the financial complexities and emotions that accompany the sale of a family business.”Harold Crenshaw, Jr., President | Crenco Food Stores, Inc.
“Our family has owned and operated CWD for over three decades, and in that time, one of the best decisions we made was to hire Matrix to represent us in the sale of our business. We were extremely impressed by the level of attention and commitment we received throughout the transaction process, and would highly recommend the Matrix Consumer and Industrial Products Team.”Patrick Pluck, Vice President | Connecticut Warehouse Distributors, Inc.
“I appreciate Matrix and their assistance with the marketing of my business. Spencer Cavalier and his team were instrumental in the sale with their excellent knowledge of the industry, contacts and asset evaluations. Matrix’s dedication, compassion and tenaciousness helped complete the sale.”Robert Norris, Owner & President | Jet-Pep, Inc. and Bama Terminaling and Trading, LLC
“Having worked for Honey Farms and with the Iandoli family for over 40 years, the sale of the company is bittersweet, but the outcome for the family has been very successful. I want to thank the Iandoli family and our talented employees whose enduring commitment built an extremely strong company. Lastly, I want to thank our M&A advisors, Matrix, and our legal counsel, Fletcher Tilton, who did a wonderful job advising the company and the family through this process.”David Murdock, President and CEO | Honey Farms, Inc.
“In our talks with Dixie and Mr. Able, they liked our family-first approach to customer service, and took great comfort in knowing their customer base will be well taken care of. Our size gives the customer advantages in service, price protection plans, and delivery options. We think the acquisitions are a win-win for us and the customers, and we have heard very favorable feedback so far. The team at Matrix was a great partner to have as we navigated the negotiations and due diligence process.”Carlton Revere, President | Revere Gas, Inc.
“Selling a company you have built from the ground up is a tough decision. You are concerned that your employees and customers will continue to be taken care of, and Matrix helped us achieve this goal. During the valuation process and through the entire sales process, the individuals that represent Matrix were professional in every manner. Our experience with Matrix was exceptional.”Don Newton, President and Co-Owner | Superior Transport, Inc.
“Our experience with Matrix was exceptional. Their professionalism and experience was instrumental in developing a competitive bid process and their expertise in the petroleum distribution and convenience retail space created a broad spectrum of prospects. As a legacy, family owned marketer, it was very important that we partnered with a buyer of integrity and character for our employees, our customers and our supplier partners. Matrix was instrumental in achieving a successful sale on all fronts.”Edward Hough, President | Leonard E. Belcher Inc.
“This is certainly a bittersweet moment. With my family having been in the petroleum business for four generations and me my entire life, it is certainly hard not to look back without some nostalgia. I am proud to reflect on everything we have been through in this industry, and how rewarding it’s been for me personally and my entire family. In saying that, this represented an ideal time for our family and where we want to go with our future endeavors. Matrix did a wonderful job in advising us with such a complicated transaction and was extremely patient while everything was put into place to make it happen. They couldn’t have been a better partner, and we couldn’t have done it without everyone at Matrix and all of their expertise.”Brad Calkins, Owner | Bradley Petroleum, Inc. and Sav-O-Mat, Inc.
“Matrix has done a phenomenal job of guiding us in this process. From the very beginning Matrix has demonstrated a professional approach and incredible tenacity to bring their impressive market awareness expertise to bear on our behalf. It has been an incredible journey. I would encourage anyone contemplating such a move to contact Matrix Capital Markets.”Edward Hough, President | Leonard E. Belcher, Inc.
“Spencer Cavalier and the team from Matrix did an outstanding job of representing us in the sale of our Home Heat and Commercial Fuels Division. The process that they employed to move us through this carve out was very effective. We enjoyed working with their team and thank them all for their hard work.”Brian Burrow, President | Campbell Oil Company
“I have been the ‘shepherd’ of the F.L. Roberts’ company assets for over forty years and have been fortunate to lead Roberts with the help of a talented executive and advisory team adding very successful ventures in other related business spaces. Many of these ventures have become consumer favorites in our region. Selling was the most difficult challenge I have ever had to face. Matrix quickly grasped the meaningfulness of our asset mix and how to capitalize on the significant value our team had created. This was a challenge they crafted into a successful sale strategy. I am very indebted to their talented team.”Steven Roberts, CFO | F.L. Roberts and Company, Inc.
“We greatly appreciate the advice and expertise that Matrix provided in the sale of the Company.”Peter and Bill Anest, Owners | State Oil Company
“We are very pleased to have transitioned the ownership of our business to a buyer committed to the continued success and long-term growth of Budget Signs. The Matrix team proved to be extremely valuable in running a highly disciplined process that identified a buyer that satisfied the objectives we were looking to accomplish.”Ed Armentrout, President | Budget Signs, LLC
“As in the past, Matrix showed great professionalism in managing the process.”Steve Shaer, Executive Vice President | Mutual Oil Co., Inc.
“This was a tough process; bittersweet. I could not imagine attempting to navigate these waters without the knowledge and support of Matrix and their team of professionals.”Scott Stipp, President | District Petroleum Products, Inc.
“During the entire sales process, the analysts and individuals that represent Matrix were professional in every manner. I firmly believe that our Company obtained not only the broadest regional coverage exposure possible but a representative national exposure to qualified buyers as well.”John Baker, Owner | Harbor Petroleum of New England, Inc.
“Matrix’s professionalism resulted in a positive outcome for all parties. Their team was focused on understanding our objectives and providing alternatives, gave sound advice, and did an outstanding job managing the process.”Donna Kelleher, President & CEO | Next Generation Children’s Centers
“I greatly appreciate the service that Matrix provided finding the best purchaser for the motor fuel portion of my business. I chose Matrix because of their expertise in completing transactions in the fuels distribution space. I would recommend Tom, Cedric and Matrix to anyone ready to sell their business.”D.W. Porto, President | Alta East, Inc.
“This was a complex assignment due to the number of entities involved, the decentralized nature of our operations and the diversity of goals for the shareholder base. The Matrix team overcame every obstacle and guided us to a successful transaction for all concerned. I would recommend Matrix to any ownership group considering a transition.”Bill Updike, President | CMA Supply Co., Inc.
“We are very pleased to have worked with Cedric, Tom, Vance and Stephen on this transaction. Having to sell our company was a difficult decision. Yet, Matrix’s advisory work from start to finish was outstanding. We are proud of all that has been accomplished with their support, and from our employees and our dealer partners. We also are pleased to have 7-Eleven and SEI Fuels assume ownership of our sites.”Arturo Zizold, Chief Executive Officer | Biscayne Petroleum, LLC and Everglades Petroleum, LLC
“Matrix’s guidance and professionalism was extremely helpful in the parties achieving a positive outcome. Working with Tom Kelso, Cedric Fortemps and their team was instrumental in seeing this transaction through to the end.”Carlos Fontecilla | Biscayne Petroleum, LLC and Everglades Petroleum, LLC
“The Matrix team provided us with first rate representation and advice throughout the process. Their knowledge of the industry and process combined with responsiveness and dedication was invaluable.”Johannes Burlin, President | Safe Foods International Holdings, LLC
“Matrix’s advice, assistance and professionalism throughout this process has resulted in a positive outcome for all parties. As always, it was a pleasure working with the folks at Matrix.”David Hrinak, Executive Vice President and COO | CrossAmerica Partners LP
“Matrix did a great job in leading the sales process, maximizing value for our stores and working with our legal counsel to negotiate the transaction. We are pleased that TA will be maintaining our existing employees and vendor relationships. Along with our daughters, Shannon and Jennifer, we have operated our stores as a family business for 26 years and will truly miss the convenience store industry. It was not an easy decision to sell, however we are confident that our employees and customers are in good hands and look forward to seeing positive changes for them all. We appreciate each and every employee and customer. We greatly appreciate the hard work John Underwood and his team at Matrix, along with the law firm of Winthrop & Weinstine led by Mark Johnson, did in bringing things to a successful close.”Ed Seck, President | Stop-a-Sec, Inc. and Seck Enterprises, Inc.
“Kocolene is pleased to be transitioning our loyal customers and dedicated team members to one of the respected leaders in the convenience store industry. I feel all will benefit from this transaction long term, which was an important goal as we close a 77 year chapter of our company’s history. We were very pleased with the services Matrix provided our management team as we navigated through the process. Our goal to close this transaction was very aggressive. We chose Matrix because of their demonstrated expertise in completing transactions efficiently.”Gary Myers, Chairman and CEO | Kocolene Marketing, LLC
“The decision to exit the industry was a tough one for the Thoroughbred team. The founders, our fourth partner and attorney Mr. Ronald Tritschler, and all our great employees poured their lives into this company for nearly three decades. The relationships found and fostered will remain. This transition was certainly made easier with the help of Matrix, whose advice and guidance was essential to achieving a successful outcome.”Jay Hall, President & CEO | Thoroughbred Energy, LLC
“The decision to sell a family owned business like ours is never easy, especially when employees and franchisees have become part of your extended family. Our decision to engage Matrix to assist us with this process was as easy as it was obvious. Through the years we have had a number of opportunities to work with Matrix, and they always conducted themselves in a way that is commensurate with the high standards that we established for ourselves at Tedeschi’s. Their work is top notch, and the guidance that they provided us from start to finish was invaluable.”Peter Tedeschi, President and CEO | Tedeschi Food Shops, Inc.
“Matrix has done an outstanding job managing our transaction. Their process certainly identified the ideal partner to continue to grow Narcote’s market presence.”Cary Green, CEO | Narcote, LLC
Matrix has helped Best Oil management review its strategic options since 2008. When the decision was made to sell we chose Matrix for their extensive industry expertise and professionalism. The Matrix team did a great job of leading the sales process and maximizing the value of the Little Store division, the wholesale supply operations, and the transportation division. They helped guide Best Oil management through the sale process, worked with Best Oil’s legal counsel to negotiate the transaction and helped manage the due diligence and closing process. We greatly appreciate the job the Matrix team did.John McKinney, President | Best Oil Company
“It was a bittersweet decision for us to sell the company. But having met Tom, Spencer and Tod over the years and knowing that they knew David and were sensitive to our situation, Matrix felt like the right fit in guiding us through the complex process of finding the right buyer for our company. Our employees are family and it was important for us to find the perfect fit to preserve our family culture. Matrix’s professionalism and compassion exceeded our expectations.”Debi Erickson | Erickson Oil Products, Inc.
“Matrix did a great job representing the best interests of both our shareholders and employees. We were looking for the right buyer that would be the best fit for our employee culture and also achieve the desired price and transaction structure. Selling the stock of a 65 year legacy company was a complicated transaction and Matrix provided a high level of professional guidance and support throughout the entire process. It was more than just a “deal” to Matrix – they sincerely guided us through the financial complexity and emotions involved with the transaction.”Gary Vander Vorst, President and CEO | Erickson Oil Products, Inc.
“Mutual has had a long business relationship with Matrix, and they have consistently done an outstanding job of managing a challenging process. Ed and I have been very pleased.”Steve Shaer, Owner | Mutual Oil Co., Inc.
“We were confident from the start that hiring Matrix was the right choice for us. Matrix’s professionals seamlessly accumulated, organized and disseminated the voluminous amount of data inherent with a transaction of this size. Their broad knowledge across all aspects of the business helped us to rationalize even the most difficult decisions. I am extremely pleased with Matrix, the process, and the results.”Herb Kaplan, Chairman | Warren Equities, Inc.
“Mike Morrison and the Matrix team brought an unparalleled level of industry expertise and transactional oversight to this process. I truly appreciate the role Matrix played in creating an excellent outcome for our shareholders and securing a strategic partner for Rossi American Hardwoods going forward.”Ted Rossi, President | Rossi American Hardwoods
“We look forward to partnering with Vance Street and pursuing several exciting strategic initiatives. We also appreciate the tremendous efforts of Matrix throughout the transaction. The depth of their team and the attention our transaction received was beyond our expectations.”Charlie Poe, President | Southern Filter Media LLC
“Matrix did an outstanding job of identifying a partner that both shared my vision and accomplished my goals in this transaction without a prolonged and time-consuming auction process. I look forward to the opportunity to partner with J.H. Whitney and to continue to serve all of our customers’ needs.”Stephen Fogler, President | Stevens Manufacturing
“The professionals at Matrix did a great job dealing with the complexities of our markets and bringing us together with our new partners. Partnering with Atlas is a great opportunity for the company and our employees. We were looking for investors that brought more than capital, had a long term focus, and understand the dynamics of our industry. Atlas and Turnspire are active and supportive partners.”Don Banker, President and CEO | Banker Steel Company
“We greatly appreciate the services Matrix provided as we made the decision to exit this aspect of our business. We chose Matrix because of their demonstrated expertise in completing transactions in motor fuels distribution.”Michael Evans, President | Atlas Oil Company
“Matrix achieved an exceptional outcome for my family, the Coxe Companies and our nearly 80 valued employees. Matrix’s expertise and contacts in the industry were tremendous assets throughout the transaction and we are appreciative of their efforts.”Tom Coxe, CEO | The Coxe Companies
“Ports Investments is very proud to have been involved in the initial capitalization and ultimate sale of Horizontal Wireline Services. We greatly valued the advice of Matrix as we moved through the process.”Mike Ports, Managing Member | Ports Investments, LLC
“This is an excellent result for Butler and our valued employees. We are thrilled to partner with the Sauder team to construct new ways to deliver value to customers in our respective markets. We also appreciate the tremendous efforts of Matrix Capital throughout the transaction. They exceeded our expectations in every respect.”Larry Giaimo, President | Butler Woodcrafters, Inc.
“We made a strategic decision to divest this portion of our business based on certain trends occurring within our industry and our position within it. Matrix brought very good counsel and a highly disciplined process to the execution of our decision. Their efforts helped us transition smoothly and we are very pleased by the outcome.”Randy Seibert, President and CEO | Manchester Marketing Incorporated
“We are pleased that Dimex will continue its success with Grey Mountain. Mike Morrison and the team at Matrix did an outstanding job managing the transaction and securing an excellent partner for David Wesel and his team.”Donald Hawks, Managing Director | The Brookside Group
“We are very appreciative of the work that Matrix provided us. They were able to design and execute on a confidential sale process that resulted in an outcome that exceeded our expectations.”Don Rogers, Chairman | Rogers Petroleum, Inc.
“Matrix ran an orderly process, allowing us to realize our business and financial objectives.”Lock Wills, President and CEO | The Wills Group
“As a family operated company for over 28 years, it was a very difficult decision to sell our retail units. We are confident we selected the best help with Spencer Cavalier, Sean Dooley and the Matrix team. Their professionalism, industry knowledge and patience led to a smooth acquisition.”Melinda Lewis | Hurst Harvey Oil, Inc.
“We are very happy that all of our employees will remain with Pep-Up including General Manager Marty Kemp, and we expect a smooth transition for all of our customers. We are also extremely pleased with how Matrix handled the transaction. Their thorough preparation of the sale memorandum package facilitated a smooth due diligence process for all concerned.”Bill Bagwell, President | Bagwell Gas & Oil Company
“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.”Jack Pester, Chairman | Pester Marketing Company
“Selling the Company was a very difficult decision, overshadowed only by the task itself. I’m convinced I selected the best help with Tom Kelso, Spencer Cavalier and the Matrix Team. Their industry knowledge, diligence, and patience led to a best outcome.”Steve Dickerson, President | Dickerson Petroleum, Inc.
“I am excited about entering into this very unique business arrangement with O’Reilly. Their dual-market strategy and commitment to serving professional installers (DIFM) and the DIY customer universe is a great fit with our tire and service business. This transaction possessed some unique characteristics and I appreciate the efforts of the Matrix team, which provided sound advice through every step of the process. This transaction possessed some unique characteristics and I appreciate the efforts of the Matrix team, which provided sound advice through every step of the process.”John Quirk, President and CEO | VIP Parts, Tires & Service
“We considered several options before selecting Matrix for this assignment and this experience confirms that we made the ‘right’ choice. Matrix’s professional and disciplined approach delivered timely and cost effective results. The Matrix team helped us to expand our client base and preserve value in the portfolio.”David Driscoll, Chief Executive Officer | Getty Realty Corp.
“We have been very pleased with the professional and thorough manner in which Matrix has managed the entire process. They have been a pleasure to work with.”Steve Shaer, Executive Vice President | Mutual Oil Co., Inc.
“The entire Matrix team worked diligently through all of the intricacies of this transaction to ensure its success. They provided our shareholders with an ideal exit plan while still maintaining the Company’s heritage. The acquisition by Hammond’s Candies complements our business, product offering and growth trajectory.”Bill Del Chiaro, CEO | Old Dominion Peanut Company, Inc.
“I would like to thank the team at Matrix for their professionalism and guidance on this transaction. They provided senior level attention throughout the entire process, and successfully conveyed RCC’s strong history and future growth prospects resulting in a value that exceeded my expectations.”Bob Hoover, President and CEO | RCC Western Stores
“Without Matrix’s guidance on this very complicated transaction, a successful consummation would have been difficult. I also can’t say enough about the solid organization, customer base, and supply chain that Darryl Harman has built. I am excited about the opportunity to develop the RESCO brand in the traditions that have made it great.”Mike Bourn, CEO | Richmond Electric Supply Company, Inc.
“It has been a difficult decision for Steve Schaeffer and I to pass the torch, but we believe we have selected an outstanding partner in Baillie. We are also thankful for Matrix Capital’s guidance in navigating the process that led us to this decision and this exciting chapter in the company’s history.”Les Wagner, Co-owner | Wagner Lumber
“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.”Charlie Gonzales, Managing Director | Albion Investors
“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.”Ben DeRosa, Partner | American Industrial Partners
“Given the complexities surrounding this transaction and the different shareholder groups involved, I couldn’t be more pleased with the outcome achieved. 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.”Jim Raymond, President and CEO | ShelterLogic
“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, it’s shareholders and the community of Lawrenceville, VA.”Marvin Thomas, CEO | Lawrenceville Brick, Inc.
“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.”Joe Petrowski, Chief Executive Officer | Cumberland Farms
“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.”Brian Darnell, Principal and Vice President of Real Estate | High’s Dairy Stores
“We appreciate the advice, hard work and creativity Matrix provided in marketing our Company.”Jimmy Patton, President | Triton Marketing, Inc.
“I appreciate Matrix’s strategic review of our business and management of the sale process, which has helped us achieve greater enterprise value.”Joe Topper, CEO | Lehigh Gas
“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.”Todd Flemming, President & CEO | Advantor
“Matrix did a thoroughly professional job throughout the process and went above and beyond my expectations. We are very pleased with the results achieved.”Ben Wafle, President | Quarles’ Retail Division
“We are very pleased with the advisory services provided by Matrix. They spent the time to really learn our business and provided us with solid advice in a difficult environment for raising capital. Once our capital objectives were quantified, Matrix identified potential investors and then worked tirelessly to help negotiate a transaction that met the objectives of both Stalcop and Alpha Capital.”Ron St. Clair, President & CEO | Stalcop
“We feel that Konrad Hornschuch will be an excellent partner for O’Sullivan Films and the combination of our two companies offers tremendous potential. The team at Matrix provided invaluable advice to us throughout the entire transaction. They did an outstanding job in an environment where the dynamics were very complex.”Denis Belzile, President & CEO | O’Sullivan Films
“Jones & Frank hired Matrix Capital because they promised us strong interest from a broad universe of Private Equity investors. We were very pleased with the reception we received in the financial community and are thankful that we had Matrix representing us. They were highly professional, thorough, and maintained strong control over the recapitalization process. I would be willing to share my endorsement with anyone that was interested.”Sterling Baker, President & CEO | Jones & Frank Corp.
“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.”David Herndon, Chief Executive Officer | Herndon Oil Corporation
“I believe that without Matrix’s expertise, there would have been no way to get this transaction done in the market we were contending with, especially given our tight deadline of a year-end closing. The end result was a win-win for both ASAP and Hudson Ferry. Thanks to the guys at Matrix for all of their hard work. They were tireless in their efforts to ensure we were well represented and provided us with sound advice throughout the entire process.”Timmy Deroche, CEO | ASAP Industries, LLC
“Within eight months our transaction was complete and we had the knowledge and peace of mind we had received the maximum value under the most favorable terms and conditions. Matrix is known for the work they do. Our success story is proof of that.”Joe Hart, President | Peterborough Oil
“We are pleased that Sharon Stairs will continue its success under the Worthington banner. Through the broad, well-managed process run by Matrix, we were able to identify the most appropriate partner for Sharon’s next phase of growth.”Ken Wanko, Director of Acquisitions | Alliance Holdings
“The team at Matrix provided valuable advice to me when I first acquired Riddleberger and have been a trusted advisor ever since. Their past experience in guiding private business owners through the M&A process, as well as their ability to work seamlessly with our attorney and accountant helped to make this a successful transaction for all parties involved. We were very pleased with the outcome.”Jim Young, President & CEO | Riddleberger Brothers, Inc.
“After considerable research, we settled on Matrix to represent us and feel we could not have made a better selection. They did a great job of keeping the process moving in a positive direction and we were extremely pleased with the outcome.”James Barnwell, President | Huffman Oil Company
“The Matrix Team did an exceptional job and I could not be more pleased. They came highly recommended and lived up to their reputation.”John Steele, Former Owner | Neighborhood Convenience, Inc. d/b/a Little Sue
“Matrix helped us to achieve the maximum value for our assets, which we could not have realized without their involvement. Matrix’s process allowed us to show our assets to multiple strategic buyers, with the least amount of disruption to our business, in a relatively short period of time.”Richard Quesenberry, President | C.R. Quesenberry, Inc.
“Matrix proved to be an invaluable partner in the process of identifying the right financial partner to help take the company to the next level and in negotiating the best terms and conditions on behalf of Tri State’s shareholders.”Kevin Farrell, President & CEO | Tri State Foam
“Working with the Matrix team made this transaction virtually seamless. They were an invaluable partner throughout the process and provided our shareholders with solid advice. They were a tenacious advocate for the company and always ensured that our best interests were represented. The end result was a great transaction for Paladin and its shareholders.”Steven Erickson, President | Paladin Tools
“The consummation of this deal provided liquidity for my partner and will allow me to more aggressively pursue Affiliated’s strategic objectives for the next several years. Matrix explored several private equity initiatives, but at the end of the day, Wachovia offered me the best possible solution by increasing my ownership to 100% without creating any dilution or outside governance.”Matt Goldberg, Co-Founder and CEO | Affiliated Mortgage Protection
“The Matrix deal team did an outstanding job in representing the interests of Spencer and its many shareholders. Matrix conducted an extensive, professional and broad process that ultimately created a successful liquidity event for shareholders and a good partner for the management going forward.”Don Wilson, Chairman of the Board | Spencer Turbine
“The Matrix deal team did an outstanding job in representing the interest of 13i, Peninsula Capital Partners LLC, our mezzanine provider, and the management shareholders in this transaction. Matrix conducted an extensive, professional and broad process that ultimately ended with a very successful exit for 13i and Peninsula Capital Partners LLC, and a good partner for management going forward.”William Suddath, Managing Director and Principal | Garsite
“I am thrilled to be joining forces with the Mueller Water Products family. They are a logical partner for the employees and management team of Fast Fab. Matrix played a pivotal role in advising us through this process and we are thankful for their continued support and guidance.”Patrick Sullivan, President & CEO | Fast Fabricators
“Matrix’s in-depth understanding of our industry and their professional process were important factors in a successful transaction for all parties.”Mike Stoddard, President & CEO | Aeriform
“The Matrix team did a fantastic job in helping us put this MBO together. We have an experienced, stable management team that knows the business well, and we are excited at the opportunity before us. This is the best outcome for all involved because it provides the continuity for our customers, suppliers, employees and the communities we are part of.”Denis Belzile, President & CEO | O’Sullivan Films
“The team at Matrix provided outstanding guidance to us during this transaction. They were professional, informative and personable, making the process extremely easy and comfortable for us. Their industry knowledge and financial expertise helped us maximize our marketability.”Mike Cerillo, President | Board Dudes
“The professionals at Matrix guided us through an extensive process to identify, approach and negotiate the sale of our company. They were with us throughout the entire process, and in the final analysis, provided us with the confidence that we had achieved the best possible transaction from the marketplace.”Robert Betzig, Chairman and Founder | Ann Arbor Machine Company
“This transaction met both our personal and corporate objectives by providing a liquidity event for shareholders and additionally, more sophisticated resources to our customer base. Our clients will now benefit directly from the enormous investments Kuehne-Nagel has made in its personnel, training, and systems. A broader array of services and more geographical depth can only make us a stronger unit under the Kuehne-Nagel umbrella. We are very excited about the growth opportunities that are imminently achievable with the support of their organization.”Cindra Zambo, CEO | Aces Limited
“The professionals at Matrix guided us through an extensive process to identify, approach and negotiate a sale of our composites business. They were with us throughout the entire process, and in the final analysis, provided us with the confidence that we had received the best deal possible from a buyer that represented an ideal suitor for our business.”Jon Painter, President | Kadant Composites
“Matrix Capital did a superb job keeping all parties engaged and moving forward, the end result of which is a great transaction success story.”Ron Bisaccia, CEO | Proxicom
“Matrix Capital was able to tap into a wide range of additional resources with M&A International, which proved to be invaluable during the acquisition search process. Matrix Capital and the other European members of M&A International worked very well together and provided a seamless team of advisors throughout the transaction. This facility should successfully service Fleet’s continued international growth plans by allowing us ready and cost-effective access to a variety of currencies in a manner that also allows us to effectively manage risk. Matrix was instrumental in the negotiations and played a vital role in closing the facility in a timely manner.”Bob Lemon, CFO | C.B. Fleet
“Matrix did a magnificent job orchestrating the recapitalization of Excel Homes, Inc. Through the negotiating stages and settlement process, Matrix was a clear thinking, helpful advisor. They helped us realize we were undervaluing the company and through solid analysis recommended a financial buyer with the proper fit. We were very pleased with the outcome.”Perry Bolton - Bolton/Langley & Associates | Excel Homes
“The professionals at Matrix Capital guided us through several complex aspects of the deal, including the structure of an arrangement for future consideration. In short, they made the entire process much less confusing and time consuming, and in the end gave us confidence that we received the best deal possible.”David Cox, Co-Founder | Bolection Door
“What I was seeking most in my advisor was not only a set of skills and relationships that could help us achieve the mission quickly, but more importantly, I was looking for people with whom I could retain a long-term relationship. I found those people at Matrix.”Robert Dion | New England Surfaces
“We greatly appreciate Matrix Capital’s efforts to assist us in closing the (eatZi’s) transaction. They were tireless in their efforts to achieve an extremely attractive transaction structure in a very compressed timeframe.”Phil Romano | eatZi’s Market & Bakery