02.01.21 Monday
Story Distributing Company Acquired by Parkland
By: P. A. (Andy) Weber III
0 Comments

Bozeman, MT – Story Distributing Company, operators of Casey’s Corner Convenience Stores and a full line branded wholesaler and retailer of petroleum fuel products in Montana, has successfully closed its sale transaction to Parkland through its U.S. based subsidiary ("Parkland USA\”).

Story Distributing Company was formed in April of 1976 by Doug Alexander when he purchased the assets of Story Motor Supply, the oldest operating petroleum distributor in the State of Montana. Nelson Story, Jr. the son of Bozeman founding father, Nelson Story, formed Story Motor Supply in 1905.  Dan Alexander, president and sole shareholder of Story Distributing, subsequently expanded his company’s operations to include branded petroleum products from ExxonMobil, Phillips 66, and Sinclair while growing all aspects of the retail, dealer distribution, and commercial supply operations across the state of Montana.

Story Distributing Company & its employees are very active in the communities they serve. Donating to over 50 separate non-profit and youth programs, its past and present personnel have served as presidents and committee chairmen for many organizations. In addition, Dan Alexander has served on various advisory boards and business improvement forums for suppliers and intends to stay active in the Bozeman business and charitable communities.

Corner Capital Advisors, LLC represented Dan Alexander, Story Distributing, and its affiliates in an M&A financial advisory capacity through its structured sale process of the business assets, while Williams Mullen served as legal counsel to Story Distributing in the sale. Andy Weber of Corner Capital commented “Earning Dan and his family’s trust to assist them in the sale of their family business has been an honor. We are grateful for our relationship and could not be more pleased for them. Knowing Dan, he won’t let any grass grow under his feet in the future either.”

Dan Alexander commented “Corner Capital & Williams Mullen were instrumental in leading & negotiating the sale of Story. From the start of the project through closing, I always felt like I was in good hands with their process, advice & counsel. I know that Story’s employees have a great opportunity with Parkland, and I’m grateful for the new beginnings after the successful close of this transaction.”

FOR FURTHER INFORMATION

Dan Alexander
[email protected]
406-587-0702

P. A. Weber III
[email protected]
805-965-5510

About Corner Capital

Since 2006, Corner Capital has been providing financial and strategic advisory services to entrepreneurs, operating companies, financial institutions, and investors in all segments of the Downstream Energy Industry and including Convenience Retailing and all multi-unit retail formats. For more information, please visit http://www.cornercapitalpartners.com/ or contact P. A. Weber III (Andy) at [email protected], (805) 965-5510.

About Williams Mullen

Williams Mullen is a full-service law firm with approximately 240 attorneys in offices across North Carolina, South Carolina, Virginia and Washington, D.C. Otto Konrad, partner at Williams Mullen, focuses on finance, corporate law, mergers and acquisitions and commercial real estate, all with a petroleum industry emphasis. For more information, please visit http://williamsmullen.com or contact Otto Konrad at [email protected], (804) 420-6093.

<< back to blog
“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.
“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
“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 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
“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
“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
Menu