Matrix Advises on Guttman Energy Sale
Matrix Capital Markets Group announced that it advised Guttman Energy on the successful sale of its Columbus, OH-based propane and lubricants division dba Guttman Oil Company to Energy Distribution Partners, a privately held company led by propane industry veteran operator Thomas E. Knauff.
Guttman chose to divest its propane and lubricants-centric division to focus capital on the continued growth of its core business the procurement and logistics management of refined fuels, natural gas and electricity.
Alan Guttman, commented on the divestment, “We would like to express our thanks to our valued Columbus Division employees for the 32 years of business that Guttman Oil Company enjoyed in the Columbus market. You represented our company with true professionalism and a passionate concern for the customer.”
Matrix provided M&A advisory services to Guttman, which included valuation advisory, transaction structuring and negotiating. The transaction was managed by Thomas Kelso, MD and head of the Matrix Energy and Multi-Site Retail Group; Spencer Cavalier, MD; Sean Dooley, senior associate; and Andrew LoPresti, senior analyst.
Cavalier commented, “We are honored to have advised Guttman on this strategic divestment, and we enjoyed working with the company’s management team to consummate the transaction. The acquisition by EDP is a logical fit as it continues to build its presence in the Ohio Valley.”
Guttman is a provider of energy procurement solutions and logistics management services, for petroleum, natural gas and electricity.