Kolkhorst - Press Release
By: P. A. (Andy) Weber III
03.21.16 Monday

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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What does 2016 hold in the M&A Marketplace?
By: P. A. (Andy) Weber III
03.21.16 Monday

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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“On several occasions, we were approached with different opportunities to exit the industry. Before giving any real consideration to any of those options, my family engaged Corner Capital to provide a Fair Market Valuation for our business. As a result, we furthered our engagement to allow Corner Capital to manage the structured process for our exit strategy. Their knowledge, industry experience, and personal touch provided Lois and me the comfort needed to successfully close our transaction with Sunoco. Without a doubt, a wise decision on our part to bring the Corner Capital team into our process.”
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