06.04.19 Tuesday
Transaction Announcement: Recapitalization & Acquisition Services
By: P. A. (Andy) Weber III

Harlingen, TX. (May 24th, 2019) – Corner Capital Advisors, LLC is pleased to announce the successful refinance and transition of ownership to the next generation of family-owned Hinogas (the “Company”), a propane distributor in South Texas. Corner Capital Advisors, LLC was retained by Hinogas as the exclusive financial adviser providing valuation and structured-financing services for the Company.

In 1963, Alejandro Hinojosa, Sr. founded Hinogas by purchasing one propane bobtail truck and delivering propane to mostly rural customers in Cameron and Willacy Counties of South Texas. Mr. Hinojosa did everything himself in those days: he was the mechanic, dispatcher, accountant, receptionist, service technician and driver, delivering the product to hundreds of homes. Over time, Alejandro Sr. began to receive a reputation as a hard-working, reliable and honest person who would always be there no matter the weather conditions to dependably deliver propane gas. Honoring and upholding the same values as Alejandro Sr., Alex Hinojosa Jr. plans to continue the successful growth of the Company that his father built after refinancing the Company and purchasing all the outstanding shares.

As the new owner of the family's business, Alex Hinojosa, Jr. commented “I appreciate the advice that Rick, Andy, and the Corner Capital team provided throughout the process of transitioning and structuring my acquisition of our family’s business. We continue to expand Hinogas, and I look forward to serving our customers across the Rio Grande Valley from Brownsville, Harlingen, to Port Isabel, and beyond with a growing platform of energy service offerings.”

Rick Golman, who managed the transaction for Corner Capital, stated “We were pleased to be given the opportunity to assist the Hinojosa family as they pass ownership onto the next generation. It has been a pleasure to work with Alex Hinojosa Jr., and we are excited to see him further grow Hinogas over the years ahead.”

About Corner Capital

Since 2006, Corner Capital has been providing specialty advisory services for all refined products and to all constituencies in the Downstream Energy industry including convenience store chains, fuel wholesalers and distributors, lubricant retailers and distributors, propane and heating oil distributors, storage and transportation companies, institutional investors, and lenders.

For more information, please visit www.cornercapitalpartners.com or contact P. A. Weber III (Andy) at [email protected] or (805)965-5510

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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.”
-Jim Kolkhorst, Kolkhorst Petroleum & Rattlers Convenience Stores, Texas
“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
“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
“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.