(Click here for previous CSP Daily News coverage of the deal.)
Xnergy Financial was engaged by Chester, Va.-based Southside Oil as the exclusive investment banker in this transaction.
In conjunction with the transaction, MACS acquired all of ExxonMobil's retail stores in Maryland and Delaware. MACS now operates more than 200 stores in Virginia, Maryland and Delaware.
Southside Oil and Uppy's founder and CEO, Steve Uphoff, will serve as the CEO of MACS with a substantial financial interest, according to the company.
"We are pleased to complete this transaction, which will immediately enhance our footprint and solidify our position in the Mid-Atlantic states," said Uphoff. "We believe it will lead to accelerated growth, enhanced service and additional product offerings for our customers, greater benefits for the communities we serve, and increased opportunities for our employees."
Xnergy Financial, the investment banker of record, facilitated the introduction to Catterton Partners as well as assisted in the execution of the financial transaction, one of the largest c-store deals to date for 2010.
"Our investment banking team has the in-depth experience and expertise in the financial and business dynamics of multi-store retail businesses. Our extensive relationships with major financial sources in this space has given clients the resources to complete deals of all sizes," said Nia Stefany, managing partner and founder of Xnergy LLC, parent firm of Xnergy Financial. "Our team was able to use their expertise and relationships to help Southside Oil find the right capital source for their financial goals and growth."
As an investment banking firm, Xnergy Financial assists clients with a broad spectrum of needs, including access to capital and financial sources, merger and acquisition services, structuring and advising on financial proposals, feedback on operating models and public and private offerings. Xnergy Financial is currently active in the financial markets, both private and public, focusing on both debt and equity.
Xnergy LLC, founded by Nia Stefany, is an investment banking firm with offices in Los Angeles and New York that has been providing business and financial services to emerging growth and middle market companies since 1998. Xnergy Financial, a FINRA-registered broker dealer firm, services both public and private companies seeking both debt and equity capital to fund growth initiatives, acquisitions, buyouts and shareholder liquidly.
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