Matrix Capital Markets Group advised Cary Oil and its affiliates on the sale of its Breeze Thru Markets convenience retail business to Sampson-Bladen Oil. Following the divestment of its chain of 15 Breeze Thru branded convenience stores, Cary will continue to operate its wholesale fuels distribution business.
Matrix provided merger and acquisition advisory services to Cary, which included valuation advisory, marketing the businesses through a confidential, structured sale process and negotiation of the transaction. The transaction was managed by John Duni, director; Spencer Cavalier, co-head of Matrix’s downstream energy and convenience retail investment banking group; and Michael Tucker, senior associate.
“The Matrix team demonstrated exceptional professionalism and expertise throughout our business unit divestiture process,” Craig Stephenson, CEO of Cary’s holding company, COC Properties, said. “Their thorough market analysis and deep understanding of buyer expectations helped us position our business effectively, resulting in strong interest from qualified buyers. The team’s commitment to process excellence, clear communication and expert management of all transaction aspects made them invaluable partners in achieving our strategic objectives.”
“We are grateful for our long-term relationship with Cary Oil and the Stephenson family, and we are honored to have worked with their talented management team to consummate this important transaction,” Cavalier and Duni said.
“The Stephenson Family has built a very well-known and successful family business, and we are honored that they now trust our family to carry on this one small part of their legacy,” John Litton Clark, president of Sampson-Bladen Oil, said. “We have engaged with Matrix in several acquisitions, and their knowledge of our industry really streamlines the process.”
