Matrix Capital Markets Group Inc., an independent middle-market investment bank, recently announced the sale of Nemo Oil Co. doing business as New England Motor Oil to a subsidiary of a publicly traded company. The transaction closed June 29.
Founded in 2000, Nemo is a lubricants distributor to customers throughout New England. The company has a nearly two-decade relationship as a Motorcraft bulk oil distributor servicing a broad range of customers, including Ford dealers and tire and service chains. Headquartered in Lawrence, Massachusetts, Nemo has benefited from its favorable positioning in servicing the robust markets of Boston and Concord, Massachusetts, in addition to the broader New England geography.
Matrix served as exclusive financial advisor to Nemo, which included valuation advisory, marketing the business through a confidential, structured sale process and negotiation of the transaction. The transaction was led by Managing Director David Shoulders and Vice President William O’Flaherty. Associate Robbie Nickle advised on the transaction.
Murtha Cullina LLP served as legal counsel for Nemo.