Transaction Announcement: Mickey’s Enterprises Inc. Selling its Convenience Retail Assets
By: P. A. (Andy) Weber III
10.14.19 Monday

Killeen TX. (August 21, 2019) – Mickey’s Enterprises, Inc. has announced that it has executed a definitive sale agreement for, and has subsequently closed on, its convenience retail and fuel distribution business assets, laundromats, and car washes effective August 26, 2019. Corner Capital Advisors, LLC was retained by Mickey's Enterprises Inc. as the exclusive financial advisor, providing valuation and structured-sale services for the Company.

Sunoco LP Completes the Acquisition of BRENCO Marketing Corporation’s Fuel Distribution Business
By: P. A. (Andy) Weber III
10.17.18 Wednesday

College Station, Texas - Corner Capital Advisors is pleased to announce the successful sale of Brenco Marketing Corporation (“Brenco”) to Sunoco LP (NYSE: SUN) effective October 16th, 2018. The acquired wholesale fuels business distributes approximately 95 million gallons of gasoline and diesel annually across a network of approximately 160 dealer and commission agent-operated locations and 100 commercial accounts in Central, Southeastern and Eastern Texas. Brenco additionally conveyed the fee-simple interests in 6 company-owned commission agent-operated locations and entered into a bulk plant lease with Sunoco as the lessee in this transaction. The acquisition is consistent with Sunoco’s strategy of utilizing its scale to grow its core fuel distribution business.

Nacogdoches, TX / Santa Barbara, CA - Press Release
By: P. A. (Andy) Weber III
10.17.16 Monday

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.

Rick Golman - Press Release
By: P. A. (Andy) Weber III
10.02.16 Sunday

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.

Industry Insight- Hercules
By: P. A. (Andy) Weber III
10.08.15 Thursday

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.

“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.”
-Jim Kolkhorst, Kolkhorst Petroleum & Rattlers Convenience Stores, Texas
“Corner Capital led us through a strategic analysis of our branded dealer business, interfacing with our Board throughout. When the Board determined to exit that segment, Corner Capital expeditiously executed our structured sale process and outperformed our value expectations.”
-Ken McPherson, The McPherson Companies, Alabama
“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 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
“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.