Petroleum Equity Group (PEG) announced the sale of Americana Petroleum Corp. and Major Fuel Carriers Corp. to Atlantis Management Group LLC (AMG), headquartered in Mount Vernon, NY. Petroleum Equity Group served as the lead advisor to Americana, and Petroleum Capital and Real Estate LLC served as the lead advisor to AMG.
The assets, all located in Suffolk County, NY, consist of a collection of retail gas locations with convenience stores and/or service bays, a wholesale fuels business, and delivery trucks. The retail sites are a mix of company operated and tenant operated locations selling Sunoco’s Coastal brand of fuels.
The origination of Americana Petroleum dates back to 1978, and for the past 15 months has been managed by Frank Mascolo, Jr., son of the founder, since his father’s passing in June 2018. “This sale transaction represents the culmination of over 40 years in business and is a tribute to my father’s legacy in the fuels industry,” said Frank Mascolo, Jr.
Regarding Petroleum Equity Group’s services, Mascolo added, “We couldn’t be more pleased with the full range of advisory and analytical skills provided by Ken Shriber of PEG. The high level of industry knowledge and expertise he provided was instrumental in achieving this outcome. My family is extremely appreciative of Ken’s dedication and professionalism in helping us manage the entire process from start to finish.”
