Good Oil Co. Picks Up Big Mike's Convenience Assets
LEBANON, Ohio — Good Oil Co. Inc. is adding five convenience stores in the Dayton and Cincinnati areas to its portfolio.
The Winamac, Ind.-based company acquired the convenience retail assets of Big Mike's Gas N Go LLC. Based in Lebanon, Big Mike's was founded in in 2008 when Mike Schueler, president and CEO of The Schueler Group, a leading real estate development and construction firm, purchased his first two c-stores in Troy and Tipp City, Ohio.
With a background in commercial development and a keen eye for strategic real estate, Schueler leveraged his development expertise to build a high-performing chain of stores that focused on exceptional customer service, according to Matrix Capital Markets Group Inc., which advised Big Mike's on the sale.
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Over time, Schueler built one of the more successful niche convenience retail companies in southwest Ohio through a strong commitment to friendly staff, expansive retail offerings, and clean, modern stores, according to the advisory firm.
"Matrix was an invaluable resource in identifying potential buyers of Big Mike's and an attentive and effective partner in finalizing the sale to Good Oil Co. We welcome Good Oil to southwest Ohio," Schueler said.
Good Oil was founded by Don O. Good Sr. in 1941. Originally based out of Monterey, Ind., the company was involved mainly in the sale and delivery of petroleum products to farm and home heat customers. Don O. Good Sr. became a Standard Oil/Amoco jobber and continued to grow the business until his retirement in 1978. His two sons, Don and Dean, assumed operation of the company, and in 1980 they relocated the business to its current offices in Winamac.
The next-generation leaders eventually entered the convenience channel under the Good to Go banner and Good Oil has grown steadily over the years. It now operates many retail locations and supplies more than 100 dealer locations. These sites are under the bp, CITGO, Marathon and Phillips 66 brands.
Matrix provided merger and acquisition advisory services to Big Mike's, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the sale. The transaction was managed by Andrew LoPresti, director; Spencer Cavalier, cohead of Matrix's Downstream Energy and Convenience Retail Investment Banking Group; Nathan Wah, senior associate; and Michael Corliss, analyst.
"Mike's dedication to his company and care for his employees were inspiring. It was a privilege to be selected to advise Big Mike's on this transaction. We wish them the best of luck in their future endeavors," LoPresti added.
Robert D. Ballinger and Patrick Martin of Coolidge Wall Co. LPA served as legal counsel for Big Mike's.