Matrix Completes Several Transactions
Matrix Capital Markets Group announced several recent transactions, including two sell-side engagements. Area Equipment Rentals & Sales, based in Chesapeake, VA, was acquired by Blue Line Rental, a portfolio company of Platinum Equity. The retail assets of Best Oil Company dba Little Store were acquired by Travel Centers of America and Best Oil Company’s wholesale fuel supply business and transportation division were acquired by NuWay Cooperative. And a buy-side advisory assignment was completed for Schurz Communications, which acquired Long Lines.
In other news, Thomas E. Kelso was appointed as chairman of the Maryland Stadium Authority by Maryland Governor Larry Hogan. In addition to Kelso’s long-standing role as managing director and head of the Matrix Downstream Energy & Retail Group, this new appointment will also allow him to honor his continued commitment to the education system and community in the greater Baltimore area. The MSA owns the Camden Yards Sports Complex and serves as landlord to the Baltimore Orioles and Baltimore Ravens. In addition, the MSA has completed projects in partnership with local governments, universities, and the private sector throughout Maryland and is currently managing the $1.1 billion Baltimore City Schools Replacement and Revitalization Program.
David W. Shoulders was promoted to the position of director. Shoulders has been a member of the Matrix Consumer & Industrial Products Group since joining the firm in 2006. Over the years he has been instrumental in closing a number of successful transactions including more recently, Area Equipment Rentals & Sales, Southern Filter Media, Stevens Manufacturing, Ashton Lewis Lumber and Dimex.
M. Vance Saunders, CPA, was promoted to the position of director. He was a member of the Matrix Downstream Energy & Retail Group for nine years and has participated in recent transactions such as Warren Equities, Manchester Marketing Incorporated and Express Lane. He holds the Certified Public Accountant designation.
Andrew A. LoPresti, CPA, was promoted to associate in the Matrix Downstream Energy & Retail Group. He joined the firm in 2012 and has been involved in recent transactions such as Erickson Oil Products, Mutual Oil. and Mid-Atlantic Petroleum Properties. He is a Certified Public Accountant and CFA Level III candidate.
David H. Endom, senior associate, joined the Matrix Healthcare Group. He has more than 14 years of advisory and financial operations experience across a number of industries, including healthcare services, manufacturing and multi-site retail. Prior to joining Matrix, Endom was Director of Financial Planning of KIPP DC, a leading network of charter schools based in Washington, DC. Previously, he was an Associate at Harris Williams & Co. and a manager in Arthur Andersen’s Business Consulting practice.