Matrix Announces the Sale of Red Eagle Oil
Matrix Capital Markets Group announced the sale of substantially all of the assets of the Red Eagle Oil and its affiliates in the U.S. Bankruptcy Court for the District of Wyoming debtor-in-possession case. The assets were sold pursuant to a court order approving the sale to Brad Hall & Associates.
The companies’ assets sold consist of 16 fee-owned convenience stores that also offer motor fuels, several bulk plants, and transportation equipment. Fifteen of the convenience stores are located throughout Wyoming, the other store is located in Hardin, MT. Eight of the stores offer Exxon motor fuels and the remaining stores sell unbranded fuels.
“This closing is the culmination of a successful sale process which required a tremendous amount of hard work on the part of the debtor, the creditors and all of the professionals employed by the various constituents,” Cedric Fortemps, SVP at Matrix, said. “It was a pleasure to work with all of the individuals involved and the successful result would not have been possible without the Hinze family’s determination to continue to operate the Companies under difficult circumstances.”
Other professionals that worked on the transaction include:
Matrix’s Energy and Multi-Site Retail Group is a middle-market investment bank that provides transactional advisory services to companies in the downstream energy and multi-site retail sectors.