Graham Enterprises Buys Bankrupt RWJ Management Assets
CHICAGO -- Graham Enterprises Inc. purchased the assets of RWJ Management Co. Inc. and related entities per an agreement with the U.S. Bankruptcy Court for the Northern District of Illinois. Graham will acquire 10 BP-branded convenience stores and gas stations in the Chicago area as part of the deal.
The purchase price of the transaction was not disclosed.
Richmond, Va.-based Matrix Capital Markets Group Inc. provided merger and advisory services to RWJ. "We were determined to work through the many legal and operational challenges that this case presented, including the branding and deed restrictions on the stores," said Tom Kelso, managing director and head of the Matrix Energy and Multi-Site Retail Group. "We are pleased to have achieved this successful result for all of the company's creditors and appreciate the opportunity to have worked with the Chapter 11 Trustee, Philip V. Martino, and his team to complete the closing."
Matrix Capital Markets Group provides transactional advisory services to companies in the downstream energy and multi-site retail sectors, including convenience store chains, petroleum marketers, fuel distributors and more. Since its founding in 1997, the company has served as an advisor for nearly 110 transactions in these industries.
As CSNews Online reported in March, Matrix Capital is also serving as advisor to Jump Oil Co. Inc., a Jefferson City, Mo.-based convenience store operator and petroleum marketing company that is selling its chain of 47 gas stations and convenience stores and one other retail location in accordance with its Chapter 11 bankruptcy case.