Distribution
Robust supply chains are integral to the movement of goods across industries and geographies. Current trends in distribution and logistics are driven by rapidly advancing technology, and the need for scale and efficiency drives M&A activity within the space. Corner Capital’s expertise enables clients to adapt to these evolving market dynamics and execute their strategic initiatives.
Logistics & Warehousing
Transportation Services
Freight Forwarding
Recent Transactions
Service Type: Valuation Services, M&A
Client: Royce Groff Oil Company d/b/a Valley Mart
Client Description: Founded in 1969, Royce Groff Oil Company d/b/a Valley Mart is a branded petroleum marketer and convenience retailer serving consumer and commercial customers in Medina County, Texas
The Trigger:
- Client sought retirement from the industry after having grown the business organically over the course of over 50 years, but wanted to retain long-term cash flow from ownership of the real estate underlying the business assets.
The Project:
- Corner Capital performed a Fair Market Valuation for Royce Groff Oil Company and outlined strategic options. The Company decided to pursue a structured sale process through Corner Capital.
- Corner Capital sourced proposals from each of the potential buyers that it engaged under a non-disclosure agreement and sharing of the marketing material in Corner Capital’s Information Memorandum and data room. Through two rounds of extensively negotiating the most competitive Letters of Intent, Texas Enterprises, Inc. Was selected as the winning bidder to acquire Royce Groff Oil Company in Corner Capital’s structured sale of the Client’s business assets.
The Solution:
- Corner Capital worked closely with Royce Groff Oil Company from valuation, sourcing and negotiating LOIs, contractual negotiations, diligence, to closing.
The Result:
- The Client’s operations and business assets were successfully marketed and sold to Texas Enterprises, Inc., which closed April 1, 2022.
- Corner Capital structured Net Leases for the real estate properties underlying the convenience retail and bulk plant assets, providing long-term income for members of the Client’s family.
Service Type: Valuation Services, M&A
Client: Laurel Oil, LLC d/b/a Rapid Express
Client Description: Founded in 1923, Laurel Oil is a fourth-generation branded petroleum marketer and convenience retailer serving communities in Jones County, MS.
The Trigger:
- The Client sought retirement from the industry after having grown the business organically over the course of nearly 100 years.
The Project:
- Corner Capital performed a Fair Market Valuation for Laurel Oil and outlined strategic options. The Company decided to pursue a structured sale process through Corner Capital.
- Corner Capital sourced proposals from each of the potential buyers that it engaged under a non-disclosure agreement and sharing of the marketing material in Corner Capital’s Confidential Information Memorandum & data room. Through two rounds of extensively negotiating the most competitive Letters of Intent, Clark Oil Company, Inc. was selected as the winning bidder to acquire Laurel Oil in Corner Capital’s structured sale of the Client’s business assets.
The Solution:
- Corner Capital worked closely with Laurel Oil from valuation, sourcing & negotiating LOIs, contractual negotiations, diligence, to closing.
The Result:
- The Client’s operations and business assets were successfully marketed and sold to Clark Oil Company, Inc., which closed March 31, 2022.
Service Type: Valuation Services, M&A
Client: W.G. Johnson Oil Company
Client Description: Headquartered in Corsicana, TX, the Company was founded in 1985 when Bill Johnson purchased the distributorship and its Exxon branded agreement from its previous owner. Johnson is a fuel and lubricants distributor for the Shell and Exxon brands to independent operators across East Texas. In addition, the Company operates its own convenience retail network throughout Corsicana and East Texas.
The Trigger:
- The Client sought retirement from the industry after growing business over the course of 36 years.
The Project:
- Corner Capital performed a Fair Market Valuation for W.G. Johnson Oil Company and outlined strategic options for the Company. The Company decided to pursue a structured sale process through Corner Capital.
- Corner Capital sourced proposals from each of the potential buyers that it engaged under a non-disclosure agreement and sharing of the marketing material in Corner Capital’s Confidential Information Memorandum and data room. After negotiating the most competitive Letters of Intent, Cole Distributing Company was selected as the winning bidder to acquire W.G. Johnson Oil Company’s business assets.
The Solution:
- Because the Company operated in multiple channels, it was able to optimize value by targeting convenience retail, lubricants & commercial fuels specialists who would value each segment appropriately to conclude a transaction.
The Result:
- The Client’s operations and business assets were successfully marketed and sold to Cole Distributing Company and Kim’s Convenience Stores, which closed in December 2021.