Matrix Advises Jolley Stores and S.B. Collins on its Sale to Stewart’s Shops

Matrix Capital Markets Group advised Jolley Associates and S.B. Collins (SBC) on the sale of its convenience retail, wholesale dealer and residential heating oil (d/b/a as Clarence Brown) businesses to Stewart’s Shops._x000D_
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Matrix provided merger and acquisition advisory services to SBC, which included valuation advisory, marketing the enterprise through a confidential, structured sale process and negotiation of the transaction. The transaction was managed by Spencer Cavalier, co-head of Matrix’s downstream energy and convenience retail investment banking group; Sean Dooley, managing director; and John Mickelinc, senior associate._x000D_
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“Matrix has been an invaluable resource for many years, and we knew they were the right advisor when it came time to sell our business,” Bruce Jolley, president of SBC, and Mary Ellen Jolley, vice president of SBC, jointly said. “Their deep industry knowledge and advisory expertise were instrumental in bringing us to a successful closing, and we feel we’ve found a great partner in Stewart’s.”_x000D_
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“Our relationship with Bruce, Mary Ellen, and Sam began over 10 years ago, and we’ve watched the company grow into one of the premier, independent petroleum marketing and convenience retailers in New England,” Cavalier said. “We are grateful for this long-term relationship, and we are honored to have advised the shareholders on this very meaningful transaction.”_x000D_
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Otto Konrad and Kaitlin Cottle of Williams Mullen and Diane McCarthy of Sheehey Furlong & Behm served as legal counsel for SBC.