Independent investment bank Matrix Capital Markets Group advised R.M. Parks on the sale of its U.S. wholesale petroleum distribution assets to PacWest Energy, a joint venture between Jackson Energy and Shell Oil Products US.

Matrix provided merger and acquisition advisory services to R.M. Parks which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the purchase agreement. The transaction was managed by Spencer Cavalier, co-head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group and Andrew LoPresti, vice president of Matrix.

R.M. Parks is a diesel fuel supplier.

“It was not an easy decision for us to sell the business that our family and employees have spent over 50 years building. It was very important to us that our employees and customers were taken care of with this transaction. We needed to find a firm that could help us with this major decision and we found that with the Matrix team. Spencer and Andrew lead us through the entire sales process from beginning to end. Their expertise in this process helped alleviate a lot of the additional stress that comes with selling your business. We are extremely pleased with the outcome. We chose PacWest Energy, which is also a family business and values their employees and customers the same way we do. We can’t thank Spencer, Andrew and the Matrix team enough for everything they have done for our family, employees and loyal customers,” Jason Callison, co-founder of Matrix, said.

“Tim and Jason built one of the West Coast’s largest fuel distributorships based on R.M. Parks’ legacy of integrity. Matrix is honored to have advised the company on this significant transaction,” Cavalier said.

Tammera Diehm, Noreen Sedgeman, and Kristy Lieblein of Winthrop & Weinstine, P.A. served as legal counsel for R.M. Parks.