Slidell Oil Acquires Assets of Interstate Oil
Slidell, LA – Slidell Oil Company, LLC announced today its successful acquisition of the assets of Interstate Oil Company, Inc., a Chevron wholesaler and retailer in Montgomery, AL.
In operation for over 80 years, Interstate is a 45 million gallon distributor, transporter, and retailer, with 24 convenience stores in and around the Montgomery metropolitan market. The company is also a premier lubes distributor for Chevron, serving the commercial lubrication needs in central Alabama through its bulk plant facility in Montgomery.
“In the past 60 days, the families from Interstate Oil and Slidell Oil have worked together to plan for the integration of our two companies and our expansion into the central Alabama market. And we are especially excited about our new relationship with Chevron”, stated Brian Baker – Managing Member of Slidell Oil Co.
Based in Slidell, Louisiana, Slidell Oil is a convenience retailer and fuel distributor representing the ExxonMobil, Shell, and Valero brands in Louisiana, Mississippi and Alabama. This marks the second large portfolio the company has acquired in the past several years, including the acquisition of 58 locations from Shell Oil Company upon its New Orleans market divestiture.
“This transaction with Interstate complements our growing Alabama footprint and is a perfect fit for the strategies we have in place for Alabama and Mississippi. The owners and management of Interstate have a strong reputation of dependable service and “best in class” retail operations. We will continue the tradition they have established,” added Keith Baker, managing member and brother of Brian. “Our companies are similar, both having been founded several generations ago in small communities, prospering with a dedication to our employees and always focused on the customer.”
Slidell Oil Company, LLC was advised on the transaction by Corner Capital Partners, LLC, a specialty investment banking firm focused exclusively in the downstream energy industry. Corner Capital has offices in Los Angeles and Santa Barbara, California, and Houston, Texas.
For more information contact Andy Weber – 805-965-5510 [email protected]
Morgan Keegan served as financial advisor to Interstate Oil Company, Inc. Morgan Keegan is a full-service investment banking and brokerage firm that provides a comprehensive range of merger and acquisition advisory, public equity and private capital services to public and private companies. Its Consumer & Retail Investment Banking group provides advisory and capital raising services to leading companies in the convenience store and wholesale petroleum industries.
For more information contact Roger Woodman at (404) 240.6864 or [email protected]