Daily News: December 28, 2012

Matrix Announces Sale of Express Lane to Lehigh Gas Partners


Matrix Capital Markets Group announced the sale of Lynn Haven, FL-based Express Lane to affiliates of Lehigh Gas Partners.

Matrix provided merger and acquisition advisory services to Express Lane, which included valuation advisory, transaction structuring, marketing of the company and negotiating the transaction with Lehigh.

Matrix’s professionals that advised Express Lane included Tom Kelso, managing director and head of Matrix’s Energy & Multi-Site Retail Team, Cedric Fortemps, director, Vance Saunders, VP and Stephen Lynch, senior analyst.

Fortemps commented on the transaction, “It was an honor to be selected by the Lewis’s to advise them on the sale of their company. We are extremely pleased that we were able to negotiate a transaction that achieved all of the shareholders’ goals that we had discussed prior to being engaged, including completing the sale this calendar year for tax purposes.”

Express Lane stores sell fuels primarily under the Chevron and Exxon flags, and a portion of the chain’s stores offer branded quick-service food offerings.

Matrix Capital Markets Group is a middle-market investment bank.