Pester Marketing Company, Inc.

Service Type: Transaction Advisory

Client: Pester Marketing Company, Inc., and affiliate Limited Partner entities

Client Description: Operates 119 convenience retail facilities across Colorado, Nebraska, New Mexico, Kansas and Washington. Pester also provides motor fuel products under several national and regional brands including Conoco, 76, Phillips 66, ExxonMobil, Shell, and Alta Fuels.

The Trigger:

  • The Client submitted a successful bid for the business assets of Western Convenience Stores, Inc., and its affiliates, under the expectations of an expedited closing.

The Project:

  • Pester engaged Corner Capital to provide Transactional Advisory Services including structuring for acquisition facilities to fund the Closing. Corner Capital assisted Pester with negotiation of the Purchase and Sale Agreement, all diligence review and underwriting, sourcing financing partners, and the Closing.

The Solution:

  • Through its strong relationships in the industry and with institutional investors, Corner Capital structured a flexible acquisition facility for Pester, allowing Pester to work through strategic and non-strategic stores in the portfolio on a post-closing basis.
  • Corner Capital worked closely with its Client across all facets of the transaction process from diligence, negotiating the financing facility and purchase agreement, to closing.

The Result:

  • Corner Capital’s Client successfully expanded their retail operations’ footprint in the State of Colorado and Nebraska, due to its ability to Close on Pester’s committed time frame.
  • The Client secured a fuel supply contract from Phillips 66, and reimaged the acquired convenience store assets to their Alta brand, complementing the Phillips 66 motor fuel brand.