Photograph courtesy of Matrix Capital Markets Group Inc.
LAWRENCEVILLE, Georgia – Majors Management LLC acquired the commodity retail, petroleum marketing and fuels wholesale businesses of Haywood Oil Co. Inc., Waynesville, NC, carrying on business as Peak Energy, which owned and operated seven Time Out Market convenience stores and four other dealer-leased sites. . She has also supplied nearly 140 independent dealer accounts in western North Carolina, as well as parts of South Carolina, Georgia and Tennessee.
Incorporated in 1952, Haywood Oil grew from a local home heating oil delivery company to an oil marketer, fuel distributor and food service company. In 1973 David Blevins left Exxon to become president of Haywood Oil. The business has grown through multiple acquisitions that have brought convenience stores, bulk plants and additional fuel brands to the business.
Todd Blevins became President of Haywood Oil in 1999 and continued to grow the company by making seven acquisitions over the next 10 years and adding a complementary branded foods division. The company has grown its wholesale fuels business by providing its network of more than 100 dealers with site and building design, financing, fleet refueling and branded fuel options. The fuel brand offerings consist of BP, Exxon, Mobil, CITGO and Sunoco, as well as independent brands.
âTodd Blevins and all of his team have built a great organization. We look forward to building on their success and expanding our presence in western North Carolina and Tennessee, âsaid Ben Smith, president of Majors Management.
âPeak’s retail and wholesale asset density in growing markets has made the opportunity very attractive for companies in the industry looking to expand,â said Cedric Fortemps, Co-Director of Matrix Capital Markets Group Inc., based in Richmond, Virginia. Energy & Convenience Retail Investment Banking Group, which provided M&A advisory services to Peak Energy, including valuation advice, marketing the business through a confidential and structured sales process, and negotiation of the sale. Fortemps managed the transaction with Andrew LoPresti, vice president, and Michael Tucker, senior analyst.
Majors Management, based in Lawrenceville, Ga., Owns, develops and operates convenience stores and distributes branded fuels. Majors and its subsidiaries supply fuel to more than 1,000 convenience stores. Majors’ branded fuel partners include BP, Shell, Chevron, Exxon, Marathon, CITGO, Mobil, Texaco, Valero, Phillips, Sunoco, 76 and Alon. Its current markets include Alabama, Arkansas, Arizona, Florida, Georgia, Kansas, Louisiana, North Carolina, Mississippi, Ohio, Pennsylvania, South Carolina, Tennessee , Texas, Virginia and West Virginia. Over the past two years, Majors has completed 12 acquisitions in 11 states and expanded its geography into the Mid-Atlantic and Texas while complementing its presence in the Southeast.
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