11.19.19 Tuesday
Transaction Announcement: East Texas Fuels, Inc. selling its convenience retail assets to Quick Track
By: P. A. (Andy) Weber III
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Marshall, Texas (November 18th, 2019) – East Texas Fuels, Incorporated (the “Company”) has announced the sale of its convenience retail business assets. The Company’s retail convenience stores were acquired by Quick Track Incorporated effective today. Corner Capital Advisors, LLC was retained by East Texas Fuels as the exclusive financial advisor, providing valuation and structured-sale services for the Company.

East Texas Fuels was founded in 1992 by T.D. “Rusty” Howell, his son (Steve Howell), and daughter (Leslie Howell Chambers). After buying the rest of the family’s ownership interests in 2016, Steve Howell became the sole owner of East Texas Fuels. The Company has bought, sold, and built convenience stores over its nearly three decades in business, and has a substantial share of Marshall’s branded fuel market with its portfolio of stores known for their convenient and highly visible locations on major thoroughfares, desirable fuel brands, high quality convenience store offerings, clean & well maintained facilities, and friendly staff.

In purchasing the business, Quick Track is acquiring all of the real estate interests in East Texas Fuels’ convenience store chain and intends to retain the Company’s store-level employees to ensure the continuity and quality of its customer relationships. In addition to the real estate being acquired, Quick Track will continue carrying the Chevron and ExxonMobil brands across the portfolio.

“Corner Capital led a structured process that allowed us to find the most qualified and capable buyer in Quick Track”, stated Steve Howell. “We appreciate the work that Carl Ray and Corner Capital performed over the time period in running this process transaction.”

Carl Ray Polk Jr. of Corner Capital Advisors added, “We are grateful for the opportunity to have been the chosen advisor for Steve and Sam Howell in selling their family’s business. It was a pleasure to work with both Steve and Sam throughout this process and it will be great to watch Mr. Lama carry on the legacy of customer service that the Howell family built in Marshall over their 27 years in business.”

About Corner Capital

Since 2006, Corner Capital provides financial and strategic advisory services to entrepreneurs, operating companies, financial institutions, and professional investors, specifically focused on the downstream segment of the oil and gas industry.

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