Matrix Capital Markets Group provided merger and acquisition advisory services to Atlantic States Lubricants in connection with the sale of certain of its assets to Moove. Martix’s services included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the transaction. The transaction was managed by David Corbett, director; Matthew Paniccia, associate; and Cedric Fortemps, co-head of Matrix’s downstream energy and convenience retail investment banking group.
“We want to thank the team at Matrix for simplifying what was otherwise an elaborate undertaking,” Frank Rooney, president of Atlantic States Lubricants, said. “Their team functioned with both efficiency and professionalism and managed the process from start to finish with an exceptional level of detail.”
“Frank and Cindy have led Atlantic States Lubricants for more than 30 years and developed it into one of the leading Mobil lubricants distributors in the Northeast by providing industry-leading customer service and developing long-term relationships with their customer base,” Corbett said. “We appreciate the trust that they have placed in Matrix to serve as their advisor in the sale of ASL and wish them all the best in their future endeavors.”
