Mac’s Acquires Dickerson Petroleum

Deal includes 29 company-operated assets and 29 wholesale assets.

Alimentation Couche-Tard’s wholly-owned indirect subsidiary, Mac’s Convenience Stores LLC, has acquired Belleville, Ill.-based Dickerson Petroleum Inc. & Retail Entities.

Dickerson operates retail and wholesale assets in three states:  Illinois, Missouri and Oklahoma.  The company’s assets purchased by Couche-Tard include 29 company-operated retail units and 29 wholesale assets.  The wholesale assets are comprised of one lessee dealer unit and 28 open dealer supply agreements.

Dickerson Petroleum, Inc. was founded by Tom Dickerson in 1971. The company was originally a wholesale supplier of tires, batteries, accessories, and gasoline to a number of traditional service stations. The passing of an Illinois self-service law in 1977 spawned the beginning of the retail convenience store business. Since then, retail store growth and wholesale gasoline supply became the focus. Dickerson has been a family company since its inception.

 Matrix Capital Markets Group Inc. provided merger and acquisition advisory services to Dickerson, which included valuation advisory, transaction structuring, marketing and negotiating. The transaction was managed by Tom Kelso, managing director and head of the Energy and Multi-Site Retail Group; Spencer Cavalier, director; Sean Dooley, associate; and, Andrew LoPresti, senior analyst.

“Selling the Company was a very difficult decision, overshadowed only by the task itself,” said Steve Dickerson, who has worked in the family business since 1971 and served as president since 2001. “I’m convinced I selected the best help with Tom Kelso, Spencer Cavalier and the Matrix Team.  Their industry knowledge, diligence, and patience led to a best outcome.”

“Tom and his family built a very strong company over the last 40 years, and we were honored to advise the shareholders through a complex transaction that resulted in a highly successful sale and the monetization of significant family capital,” said Cavalier.

Joseph Lehrer, Phillip Stanton, Alfred Henneboehle, Giles Walsh, and Kevin Vick of Greensfelder, Hemker & Gale, P.C. served as legal counsel for Dickerson.

 

 

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