Laurel Oil, LLC d/b/a Rapid Express
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 Client sought retirement from the industry after having grown the business organically over the course of nearly 100 years.
- 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.
- Corner Capital worked closely with Laurel Oil from valuation, sourcing & negotiating LOIs, contractual negotiations, diligence, to closing.
- The Client’s operations and business assets were successfully marketed and sold to Clark Oil Company, Inc., which closed March 31, 2022.