Matrix Capital Markets Group facilitates sale of Tevis Oil Inc.

September 11, 2018 By    

Matrix Capital Markets Group Inc., an independent middle-market investment bank, facilitated the sale of Tevis Oil Inc.’s convenience retailing and wholesale motor fuel assets to SMO Inc., a subsidiary of The Wills Group Inc.

According to the sale details, Tevis, headquartered in Westminster, Maryland, will continue to operate and is actively looking to grow Tevis Energy, Tevis Propane and Modern Comfort Systems. Tevis Propane serves residential and commercial customers.

“It has been a pleasure to work with Sean Dooley and Spencer Cavalier and the entire Matrix team over the last few months to successfully undertake and conclude this project,” Jack Tevis says. “Their professionalism and expertise has exceeded any expectations that I might have had on how this endeavor might go. And I want to compliment the folks at SMO and The Wills Group as well for their outstanding cooperation to diligently consummate this project. Finally, I want to express my deepest appreciation to the employees of Jiffy Mart and Tevis Oil for their wonderful efforts to create and sustain a wonderful group of stores in our community over the past 30 years.”

Matrix provided merger and acquisition advisory services to Tevis, which included valuation advisory; marketing the business through a confidential, structured sales process; and negotiation of the transaction. Dulany Leahy Curtis & Brophy LLP served as legal counsel for Tevis.

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Joe McCarthy was an associate editor at LP Gas Magazine.

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