Petroleum Capital and Real Estate, LLC, acting as the exclusive financial advisor to the Petroleum Marketing Group Inc., announced that its client successfully closed on the acquisition of thirteen (13) convenience stores, a large number of supply-only contracts and all the other associated business assets formerly owned and/or controlled by Ocean Petroleum, Inc. and its affiliated companies. The retail sites and supply-only deal dealer accounts are located on the east coast of the United States from Northern New Jersey to Virginia. PMG is a large and well established Shell, Exxon, BP, Mobil, Sunoco, Gulf, Crown, and Citgo branded jobbership and a leading regional distributor of petroleum products and services in the mid-Atlantic and northeast regions of the United States.
PetroCapRE exclusively represented PMG and provided professional assistance in the initial financial due diligence process, acquisition modeling, contract negotiations and procurement of capital required to close the overall transaction. “We are excited that our firm could support PMG throughout this transaction process” said John Sartory, managing director and principal of PetroCapRE. “This was a great opportunity for our client to expand its retail network, customer base and management team within PMG’s current geographic footprint. We are honored that PMG chose PetroCapRE to be their exclusive financial advisor for this transaction and enjoyed working with their entire senior management team to facilitate this acquisition.”
PetroCapRE, PetroCapRE Brochure, provides buy-side advisory, financial restructuring, capital raises of debt and equity and corporate advisory and valuation services for clients exclusively in the retail petroleum industry. Our firm has facilitated the closing of over $1.2 billion in transactions.
