Service Type: M&A
Client: Denny Oil Company, Inc. (various real estate holding companies, Denny Transport, LLC)
Client Description: Six (6) company-operated ‘Check Point’ c-stores; dealer operated stores; 126 branded/unbranded dealer accounts; commercial and lubricants businesses.
- For family and competitive reasons, the Company decided to explore its market value and a potential structured sale. The Principal also owned, outside of the business, other business holdings and commercial real estate.
- The Company had its start in 1972 and served over 350 retail and commercial customers throughout Texas, including the metropolitan areas of Dallas and Houston, and Louisiana.
- After performing a Fair Market Valuation for Denny Oil Company, the Principal decided in the Company’s best interest to divest of the Company’s assets through a structured sale process with Corner Capital.
- Corner Capital executed a highly competitive structured sale process to a discrete target group, to ensure confidentiality and expedite the timeline to closing.
- All assets of the Company and its business lines were marketed along the Company’s three primary business lines - Convenience Retail, Dealer Fuel Supply, and Commercial Fuels & Lubricants.
- To optimize the value of the transaction, the buyers could purchase single or multiple business lines in the transaction.
- The Company’s operations were successfully marketed and sold to a single buyer.
- Sunoco LP was selected as the sole-purchaser, and will reimage all Check Point stores to the Stripes® Brand.