Matrix Capital Markets Group advised E.J. Pope & Son, dba Pope Transport, on the sale of its fuels transportation business to Petroleum Transport Company. Matrix provided merger and acquisition advisory services to Pope, which included valuation advisory, marketing the businesses 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, and Michael Tucker, senior associate.
“It is a truly bittersweet day for me after a lifetime in our family’s petroleum business. We started the common carrier business in the early 80s with three trucks and three drivers and ended our run with over 50 trucks and 90 drivers. Over the years, our family has been fortunate to work with many wonderful long-term employees and business friends. It is their friendship and those relationships that I am going to miss the most,” Judson Pope, president of Pope Transport, said. “Spencer Cavalier, the Matrix team and Lee Hodge have been great advisors on both of our business transactions. They worked tirelessly representing our company. I think PTC will continue the family tradition established by the Pope team for many years to come.”
“It has been an honor to work with Judson and his talented management team over the years, with Pope Transport being the final exit for the family’s petroleum marketing, convenience retailing and fuels hauling enterprise,” Cavalier said. “It was a remarkable run by a very successful and well-respected family business in this industry, and we wish Judson continued success with his future entrepreneurial endeavors.”
Lee Hodge and Olivia Lewis of Ward and Smith, P.A. served as legal counsel for E.J. Pope & Son.
