Service Type: M&A
Client: Colvin Oil I, LLC (“Colvin Oil” or “Company”)
Client Description: Founded in Grants Pass, Oregon in 1960, Colvin Oil Company has grown to become a premier convenience retailer, branded dealer wholesaler, and commercial fuels and lubricants supplier throughout the state of Oregon. In 2017, Colvin Oil I, LLC and other affiliates of the Andretti Petroleum acquired Colvin Oil Company from the founding family.
- After 18 months of operating the commercial fuels and lubricants business, management decided the segment was non-strategic to the future of the Company.
- Corner Capital was retained by Colvin Oil to provide an estimate of Fair Market Value for the segment, and conduct a strategically selective process to find a buyer that did not compete in Colvin’s retained trade channels and geography.
- Corner Capital executed a sequential sale process to select distributors in the Pacific Northwest that met Colvin’s divestiture criteria.
- Corner Capital and Colvin Oil identified Tyree Oil as a strategic and experienced operator to build on the business and relationships Colvin Oil developed in the trade channel, while mutually outlining future partnership opportunities in Oregon.