12.04.15 Friday
Johnson Oil Company - FS Holdings Sale Press Release - December 1 2015
By: P. A. (Andy) Weber III
0 Comments

TRANSACTION ANNOUNCEMENT - FOR IMMEDIATE RELEASE

December 1, 2015

Gonzales, TX – 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.

JOC will be a fully integrated and wholly owned subsidiary of F.S. Holdings, Inc. The current management team of JOC will remain in place and F.S. Holdings will operate this business segment under the name of Johnson Oil Company for the foreseeable future.

The combination will fully integrate these companies, providing a more extensive and successful distribution network throughout the state of Texas through a single-source operation.

Johnson Oil Company

Founded in 1958 by Fletcher Johnson, Johnson Oil Company was headquartered in Gonzales, TX, operating throughout Texas including the Eagle Ford Shale and Permian Basins, and Central and South Texas. JOC featured ExxonMobil lubricants as well as other quality brands, offering customers a wide variety of best in class lubricants, greases and specialty products for a wide range of applications and markets, in addition to transportation and commercial fueling services.

Johnson Oil Company and its Board of Directors, assisted by Corner Capital Advisors, LLC, embarked on a scenario analysis of its strategic options for the Company, subsequent to the passing of its founder, Fletcher Johnson in 2013. After reviewing potential options, the Johnson family decided a sale of its commercial fuel, transportation and lubricant assets was the appropriate path. Andy Weber commented, “Exiting a family business founded in 1958 requires thoughtful consideration. We are extremely pleased that the family and the Board trusted Corner Capital and its team to assist and guide the Company through the entire process. It has been a pleasure to work with the Johnson family and the Board. ”

This transaction represents the conclusion of the sale process and the final transition of the Johnson family businesses embarked upon by the Johnson Oil Company Board of Directors. In June 2015, the Company sold its convenience retail and dealer fuel supply businesses to the Southwest Division of Circle K.

Corner Capital Advisors

Corner Capital Advisors, LLC, is a national advisory firm specializing in Downstream Energy since 2006. The firm and its team members provide transactional, financial, and operational assistance to all constituents in Downstream Energy, including all refined products, transportation, storage, distribution, and retailing. For more information please see www.cornercapitaladvisors.com or contact Andy Weber at [email protected].

<< back to blog
Comments
“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
“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
“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
“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.
“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 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
Menu