Forrest City, AR (February 5, 2020) – Nimocks Oil Company, Inc., dba Circle N Market (the “Company”) has announced the successful sale of all of its convenience stores and related assets to Jordan’s Kwik Stop, Inc. effective February 5, 2020. Corner Capital is pleased to have provided business valuation services and its structured sale process to assist Nimocks Oil Company in its corporate efforts.
Birmingham, AL (February 4, 2020) – The McPherson Companies, Inc. of Birmingham, AL, (the “Company”) has announced the successful sale of its Dealer Fuel Distribution business to Majors Management, LLC and its affiliates. In 2018 the Company initiated a strategic review of all business segments, leading to its conclusion to direct its resources towards its Mobil and Proteck lubricants, commercial fueling, and Fuelz fleet card program as it expands along the Gulf Coast in those trade channels. Corner Capital is pleased to have provided strategy and benchmarking advisory, business valuation services and its structured sale process to assist The McPherson Companies in its corporate efforts.
Homer, LA. (February 1, 2019) – Emerson Oil Company has announced the sale of its convenience retail and fuel and lubricants distribution business based in Homer, Louisiana. The Company’s convenience stores, ExxonMobil branded marketer agreements, cardlocks, corporate office, bulk plants and lubricants storage facilities were purchased by Crump Oil Company effective today. Corner Capital Advisors, LLC was retained by Emerson Oil Company as the exclusive financial adviser providing valuation and structured-sale services for the Company.
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.
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.