Matrix Capital Markets Group, Inc. (“Matrix”), a leading independent middle-market investment bank, announces the successful closing on the sale of Bradley Petroleum, Inc. and Sav-O-Mat, Inc. to Stinker Stores, Inc. Headquartered in Denver, the company’s operating history spans over a century in the petroleum marketing and convenience retailing industry, including owning and operating the first Denver-based gas station in 1912. Stinker is acquiring the company’s 40 stores in Colorado and one in Wyoming.
The Bradley and Sav-O-Mat stores are well known in the Colorado market, especially the Denver metropolitan region, as high-volume fuel sites located in high-traffic areas and configured to offer ease of ingress and egress for enhanced convenience and speed of refueling. The company grew significantly under the leadership of George Calkins and his son, Brad, both of whom are well known as accomplished petroleum marketing and convenience retailers and real estate investors. Brad’s son, Buzz Calkins, has served as President of the company for the last 10 years and continued the company’s legacy of strong profitability and growth.
Brad Calkins commented, “This is certainly a bittersweet moment. With my family having been in the petroleum business for four generations and me my entire life, it is certainly hard not to look back without some nostalgia. I am proud to reflect on everything we have been through in this industry, and how rewarding it’s been for me personally and my entire family. In saying that, this represented an ideal time for our family and where we want to go with our future endeavors. Matrix did a wonderful job in advising us with such a complicated transaction and was extremely patient while everything was put into place to make it happen. They couldn’t have been a better partner, and we couldn’t have done it without everyone at Matrix and all of their expertise.”
Matrix provided merger and acquisition advisory services to the company, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the transaction.
Matrix’s Downstream Energy & Convenience Retail Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors, including convenience retailing, petroleum marketing and distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum transportation and logistics, terminals and bulk plants, oilfield services, renewable fuels, food service and specialty retail. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate restructurings, corporate valuations and strategic planning engagements. Since its inception in 1997, this dedicated group has successfully advised on more than 175 engagements in these sectors with a total transaction value of nearly $7 billion.