Matrix Capital Markets Group advised Hutchinson Oil Company, a petroleum marketer and convenience retailer, on the sale of its petroleum marketing and convenience retail business to Circle K Stores.
In Q4/24, Hutchinson sold its delivered fuels business to Hampel Oil Distributors. With the closing of the convenience retail and travel centers transaction in January 2025, the Hutchinson family has now exited the fuels industry.
Matrix provided merger and acquisition advisory services to the company, which included valuation advisory, marketing the businesses through confidential, structured sale processes and negotiation of the transactions. The transactions were managed by Cedric Fortemps, co-head of Matrix’s downstream energy and convenience retail investment banking group; John Duni, vice president; Mike Tucker, senior associate; and Matthew Paniccia, associate.
“We have known the Matrix team for years through our involvement in SIGMA,” David Hutchinson, president of Hutchinson, said. “They managed our transactions with the same knowledge and professionalism that we have come to know them for. From start to finish, they managed many of the details that helped us maximize the value of our company. As the Hutchinson Family determines our next chapter, we cannot thank the Matrix team enough for their help to complete these transactions. We could not have done this without them.”
“The Hutchinson family should be extremely proud of the best-in-class network of convenience stores and travel centers that they developed and operated with an incredible and successful focus on customer satisfaction,” Fortemps said. “We are honored to have had the opportunity to advise them on the sales of their fuels, convenience retail and travel center businesses.”
Jordan Field of Crowe & Dunlevy served as legal counsel for Hutchinson on both transactions.
