The successful closing on the sale of Tevis Oil, Inc.’s convenience retailing and wholesale motor fuel assets to SMO, Incorporated, a subsidiary of The Wills Group, Inc., has been stated by Matrix Capital Markets Group, Inc., a leading, independent middle-market investment bank. All of Tevis’ company-operated locations (d/b/a Jiffy Mart) as well as its commission agent and lessee dealer sites consist of the acquired assets.
Mr. Jack Tevis, representing the third generation of the Tevis family, currently leads the company. “It has been a pleasure to work with Sean Dooley and Spencer Cavalier and the entire Matrix team over the last few months to successfully undertake and conclude this project,” said Mr. Tevis. “Their professionalism and expertise has exceeded any expectations that I might have had on how this endeavor might go. And I want to compliment the folks at SMO and The Wills Group as well for their outstanding cooperation to diligently consummate this project.”
Merger and acquisition advisory services were provided by Matrixto Tevis, including valuation advisory, marketing and negotiation of the transaction. Spencer Cavalier, Managing Director; Sean Dooley, Vice President; and Christian Klawunder, Senior Associate managed the transaction.
“There has been a longstanding relationship between Tevis and Matrix, and we sincerely appreciate Jack’s trust and confidence in us to execute this transaction,” said Mr. Dooley. “We are extremely pleased that it accomplishes the goal he set out to achieve, and we wish him much success and continued growth with the businesses he is retaining.” PWKD11092018
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