Pester Marketing Completes Refinancing to Facilitate Growth

DENVER, Colo. -- Pester Marketing Co., the Denver-based operator of 49 convenience stores, has successfully completed a refinancing and expansion of its senior credit facilities and treasury management services.

According to a news release issued this afternoon by Matrix Capital Markets Group, Pester Marketing's management sought to consolidate, expand and reconfigure its debt capital structure and treasury management services to better suit the more sophisticated financial needs of its growing company. RBS Citizens N.A. has become the company's primary senior lender and treasury management services provider.

Founded in 1955 and headquartered in the Denver suburb of Greenwood Village, Pester distributes and transports motor fuels and lubricants to wholesale, commercial and agricultural customers through its wholly-owned subsidiaries Alta Fuels LLC and Alta Transportation LLC. The company is one of the largest and most diversified privately held convenience retailers and petroleum marketing companies in the United States with a marketing territory that expands through Colorado, Kansas, Nebraska and New Mexico.

According to the company's website, its c-stores are branded under the 1st Stop and Farm Crest Milk Store banners.

Matrix provided corporate finance advisory and execution services to Pester Marketing, including debt structuring, valuation, marketing, and negotiation. The transaction was managed by Spencer Cavalier, director, and Vance Saunders, senior associate, with assistance from Tod Butler, vice president of business development.

"Pester is one of the most unique companies in the industry due to operating in multiple channels, but also by being a blender of biofuels with conventional fuels, especially through proprietary biodiesel blends," said Cavalier. "This blending capability has contributed significantly to the company's growth in all channels. The company's debt capital deck and treasury management are now better structured for continued growth. Citizens did a great job of understanding the structure and services we were seeking."

Citizens' specialized finance group was led by Michael Phelps, Channing Lefebvre and Steven Wheelon.