GREENWOOD VILLAGE, Colo. -- Convenience retailer Pester Marketing Co. has refinanced and expanded its senior credit facilities and treasury management services. Pester Marketing management sought to consolidate, expand and reconfigure its debt capital structure and treasury management services to better suit the more sophisticated financial needs of the growing company, it said.
RBS Citizens NA has become the company's primary senior lender and treasury management services provider.
Founded in 1955 and based in the Denver suburb of Greenwood Village, Pester Marketing is an operator of 49 Alta Convenience stores. Through its wholly owned subsidiaries, Alta Fuels LLC and Alta Transportation LLC, the company distributes and transports motor fuels and lubricants to wholesale, commercial and agricultural customers. It is one of the largest and most diversified privately-held convenience retailers and petroleum marketing companies in the United States, it said, with a marketing territory that expands through Colorado, Kansas, Nebraska and New Mexico.
Matrix Matrix Capital Markets Group Inc., Baltimore, provided corporate finance advisory and execution services to Pester, including debt structuring, valuation, marketing and negotiation. "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 Spencer Cavalier, director of Matrix. "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."
Matrix's Energy & Multi-Site Retail Group is recognized as a national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience store chains, petroleum marketers, fuels distributors, retail propane distributors, heating oil distributors, lubes retailers and distributors, terminal operators, fuels transportation companies, hospitality companies and other specialty retail chains.
Matrix Capital Markets Group is a leading middle-market investment bank headquartered in Richmond, Va. Since 1988, Matrix has focused on providing merger and acquisition and financial advisory services for corporate and privately-held companies, including sales and divestitures, Staged Liquidity Transactions, management buyouts and debt and equity placements.
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