The sale includes the commodity retail, petroleum marketing and wholesale fuels business of Haywood Oil.
Haywood Oil is headquartered in Waynesville, NC, and operates retail stores and serves wholesale customers in western North Carolina, as well as parts of South Carolina, Georgia and the United States. Tennessee.
Formed in 1952, Haywood Oil Co. has grown from a local home heating oil delivery company to a major oil trader, fuel distributor and catering business. In 1973 David Blevins left Exxon to become president of Haywood Oil. The business has grown through multiple acquisitions that have brought convenience stores, bulk plants and additional fuel brands to the business.
Todd Blevins became President of Haywood Oil in 1999 and continued the company’s legacy of growth by making seven acquisitions over the next ten years and adding a complementary branded foods division. The company has grown its wholesale fuels business by providing its network of more than 100 dealers with site and building design, financing, fleet refueling and branded fuel options. The company’s fuel brand offerings consist of BP, Exxon, Mobil, Citgo and Sunoco, as well as independent brands.
âIt was a difficult decision to sell the business. I am very grateful to the talented people who have helped us build the business over the years. I enjoyed working with CÃ©dric and his team at Matrix. They handled the closing appraisal sale with an organized and professional process and I am very happy with the outcome. In addition, Otto Konrad and his legal team at Williams Mullen have been with excellent collaboration and have helped make this transaction a success, âcommented Blevins.
âTodd Blevins and all of his team have built a great organization. We look forward to building on their success and expanding our presence in western North Carolina and Tennessee, âsaid Ben Smith, president of Majors Management.
Majors Management, based in Lawrenceville, Ga., Owns, develops and operates convenience stores and distributes branded fuels. Majors and its subsidiaries supply fuel to more than 1,000 convenience stores. Over the past two years, Majors has made 12 acquisitions in 11 states and expanded its geography to the Mid-Atlantic and Texas, while completing its footprint in the Southeast.
Matrix Capital Markets Group, an independent investment bank, advised Haywood Oil on the sale.