05.03.17 Wednesday
Andretti Petroleum Group expands into Oregon and Washington
By: P. A. (Andy) Weber III
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San Carlos, CA (May 2, 2017) – The Andretti Petroleum group and Lane Colvin have acquired the assets of Colvin Oil Company. The transaction combines the resources of two strong company owned-company operated retail chains and fuel supply organizations.

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10.17.16 Monday
Nacogdoches, TX / Santa Barbara, CA - Press Release
By: P. A. (Andy) Weber III
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Denny Oil Company, Inc., owner of the Check Point convenience store chain, is pleased to announce that it has closed a transaction with certain affiliates of Sunoco LP to sell its Check Point convenience store chain that operates throughout East Texas and West Louisiana, primarily distributing Exxon and Shell branded fuel, its network of Company-owned, Dealer-operated convenience stores, its commercial fuels and lubricants business, and 126 dealer accounts to which the company supplied branded and unbranded fuel. The Check Point stores will be reimaged to the Stripes brand, and the dealer locations will retain their current fuel brands through Sunoco’s wholesale branded fuel marketer agreements. Corner Capital provided valuation and strategic M&A advisory services throughout the process to Dick Rudisill and Denny Oil Company.

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10.02.16 Sunday
Rick Golman - Press Release
By: P. A. (Andy) Weber III
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Corner Capital Advisors, LLC is extremely pleased to announce that Rick Golman has joined its team as Senior Vice President, Business Development. Rick brings a long and successful career in Downstream Energy to the firm, most recently as a Board member of Empire Petroleum Partners, LLC where he served for over 4 years.

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06.24.16 Friday
Kolkhorst - Press Release
By: P. A. (Andy) Weber III
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Kolkhorst Petroleum Company, owner of the Rattler’s convenience store chain, is pleased to announce that it has closed a transaction with certain affiliates of Sunoco LP to sell its 14 Rattlers convenience stores that operate throughout Central and South Texas, primarily distributing Exxon, Shell and Valero branded fuel and 34 dealer accounts to which the company supplied branded and unbranded fuel.

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05.06.16 Friday
Southwest Fuel & Convenience Expo
By: P. A. (Andy) Weber III
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Southwest Fuel & Convenience Expo, Tuesday, May 10th 11am - 12pm

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03.21.16 Monday
What does 2016 hold in the M&A Marketplace?
By: P. A. (Andy) Weber III
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2015 has been a busy year for mergers and acquisitions in the downstream energy industry. Since October 2014, when oil prices dropped over 40%, six oil and gas companies have filed for bankruptcy. Debt service, which can be 10%+ of revenue, is often the culprit as well as poorly performing gas service bonds in the high-yield energy index. Most recently, Sabine Oil & Gas Corp. sought Chapter 11 bankruptcy protection, making it the sixth and largest US oil producer to file as a result of cheap crude oil prices.

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03.21.16 Monday
Kolkhorst - Press Release
By: P. A. (Andy) Weber III
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Kolkhorst Petroleum, Inc., owner of the “Rattlers” convenience store chain, is pleased to announce that it has executed a purchase agreement with certain affiliates of Sunoco LP (“SUN”) to sell its 14 Rattlers convenience stores along with its wholesale motor fuel distribution business.

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02.25.16 Thursday
Demand for Downstream MLP units in the 2016 Market
By: P. A. (Andy) Weber III
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2015 was an interesting year for mergers and acquisitions in the downstream energy industry. In a market where MLPs are common, low oil prices and threats of rising interest rates put a pause in MLP creation and certain companies going public.

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02.01.16 Monday
What Downstream Lenders Should Know about Regional Differences in Convenience
By: P. A. (Andy) Weber III
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Master Limited Partnerships (MLPs) have been around for decades. However, in 2008, the IRS ruled that certain downstream energy assets, such as wholesale fuel sales to end users (dealers) and real estate associated with downstream assets, would qualify for MLP treatment. This served as a catalyst to spur investment and organizational structures to take advantage of the tax advantage offered by MLP entities. Since then, multiple downstream MLPs have issued units to investors in the capital markets.

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01.25.16 Monday
Current State of Downstream Master Limited Partnerships and M&A Activity in 2016
By: P. A. (Andy) Weber III
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Master Limited Partnerships (MLPs) have been around for decades. However, in 2008, the IRS ruled that certain downstream energy assets, such as wholesale fuel sales to end users (dealers) and real estate associated with downstream assets, would qualify for MLP treatment. This served as a catalyst to spur investment and organizational structures to take advantage of the tax advantage offered by MLP entities. Since then, multiple downstream MLPs have issued units to investors in the capital markets.

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01.13.16 Wednesday
Interview: Andy Weber, Corner Capital (By Retail Petroleum)
By: P. A. (Andy) Weber III
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For this month’s Master Class Interview, we talked with Andy Weber, the founder of Corner Capital — a national advisory firm providing transactional, financial, and industry-related services to the domestic Downstream Energy industry and its related infrastructure.

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12.22.15 Tuesday
Marketing Strategies for Modern Convenience Stores
By: P. A. (Andy) Weber III
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There’s been a lot of press coverage lately about “modern” convenience stores. The verdict seems to be that convenience stores of the future are very individual focused, offer healthy options, and embrace technology. Those are all great attributes, but how do convenience store chains need to change their marketing to communicate their evolving value to customers?

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12.07.15 Monday
Diesel Production for Tomorrow’s Vehicles
By: P. A. (Andy) Weber III
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It seems that every week there is new news about the rise or fall of diesel demand. As far as U.S. demand goes, diesel is not as popular as it is in other countries. A very small percentage of light duty vehicles (LDVs) use diesel compared to countries where diesel is more popular; however, diesel engines are on the rise in the U.S.

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12.04.15 Friday
Johnson Oil Company - FS Holdings Sale Press Release - December 1 2015
By: P. A. (Andy) Weber III
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Johnson Oil Company (“JOC”) is pleased to announce that F.S. Holdings, Inc., parent company of Texas Enterprises, Inc., has acquired its commercial fuel, transport and branded lubricants businesses.

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11.23.15 Monday
How Convenience Stores Can Keep Up with the Times
By: P. A. (Andy) Weber III
0 Comments

Corner Capital not only understands trading multiples in the industry, but the importance of keeping your c-store (or marketing strategies) relevant. In today’s world of ultra-convenience, traditional convenience stores have to continually evolve in order to stay relevant. There are a lot of stores re-imagining the traditional model to set themselves apart and offer consumers more variety and choices.

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10.08.15 Thursday
Industry Insight- Hercules
By: P. A. (Andy) Weber III
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As downstream energy advisors, Corner Capital stays current on major news and legal cases within the industry. With the decline in oil prices, and many upstream oil companies threatened with bankruptcy, it is enlightening to see a success story.

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“Brookshire Brothers utilized Corner Capital Advisors for valuation and structured sale of 26 of our convenience stores. Corner Capital’s knowledge of the industry and attention to our assets was critical to our successful closing. We relied on their services and expertise for the entire process.”
-Jerry Johnson, President and CEO – Brookshire Brothers, LTD
“The folks at Corner Capital demonstrated great leadership and industry knowledge managing our financing requests. I was able to consolidate my debt structure, reduce costs, and create capacity to meet our growth needs. I’ve recommended them to my peers and my customers.”
-Jeffrey Magness, Magness Oil Company
“Corner Capital helped me with a complex transition of our convenience retail business in 2013, which was a critical component of our succession planning. We were so pleased with their industry knowledge and structuring expertise that we engaged them again to assist us in the transition of our wholesale fuel supply business.”
-Ed Few, Jasper Oil Company
“Corner Capital successfully negotiated and facilitated my refi project and helped me find additional capital to support my ongoing growth plans. They managed all aspects of the project very well and I would not hesitate to use them again or to recommend them to other marketers.”
-Carlos Garza, La Lomita
“Under time and financial pressure, Andy was able to quickly grasp not only the operating issues with Appco, but weave through the difficult negotiations with landlords, suppliers, and creditors while ensuring the majority of the employees were taken care of throughout the process. I’d highly recommend Corner Capital’s services for any distressed situation, in any part of the country.”
- Mark Dessauer, Counsel for Appco
“Corner Capital demonstrated patience and persistence in our negotiations over a year’s time, solving a complex structuring project. The end result was a tremendous amount of value and a great long-term relationship.”
-Rene Anabi, Anabi Holdings North Master, LLC
“Lard Oil recently engaged Corner Capital Advisors on two projects, first to assist in an acquisition opportunity and the other to manage the process to refinance our Sr. term and revolver facilities. The CCA team brought a wealth of knowledge and expertise and did so under our strict timelines and expectations. I have no reservations of recommending their firm and intend to engage with them as other opportunities present themselves.”
-Johnny Milazzo, President and CEO – Lard Oil Co., Denham Springs, LA
“Andy Weber and his team at Corner Capital have done exceptional work supporting transactional, valuation, and various proprietary initiatives at our companies. Andy’s extensive industry experience, technical competence, and practical "real world" approach is a valued resource to our organization. The Corner Capital team consistently delivers-----and always in a most timely and impactful manner.”
-M.J. Castelo, Managing Member & President – Andretti Petroleum LLC / Peninsula Petroleum LLC / Humboldt Petroleum Inc.
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