Matrix Capital Markets, an independent investment bank, advised Land O’Sun Management d/b/a Fast Track on the sale of its petroleum marketing, convenience retail and quick-service restaurant businesses to Anabi Real Estate Development and its affiliates d/b/a Anabi/Rebel.

Matrix provided merger and acquisition advisory services to Land O’Sun Management, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the sale. The transaction was managed by Cedric Fortemps, co-head of Matrix’s downstream energy and convenience retail investment banking group; Nathan Wah, senior associate; and Reilly Erhardt, analyst.

“As a family business, deciding to sell is both an economic and emotional decision,” Alan Fogg, President of Fast Track, said. “Our prior experience with Matrix, conducting periodic business evaluations of our company, gave us confidence that Matrix was the right partner for this transaction. The support they provided in presale planning and through the entire sale process proved our confidence was warranted.”

“Our relationship with Richard, Alan and Steve began close to a decade ago and since then, they’ve done a tremendous job strategically growing their business to make it what it is today,” Fortemps said. “We are honored to have advised them on the sale of the incredible company they’ve worked so hard to build.”

Charles Muller II and Michael Schwartz of Muller Lebensburger & Schwartz served as legal counsel for Land O’ Sun Management. Fred Whitaker, Ashley Bolduc and Wendy Hsu of Cummins & White served as legal counsel for Anabi Real Estate Development.