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MATRIX ANNOUNCES SALE OF FASTRAC MARKETS

Matrix Capital Markets Group Inc. advised Fastrac Markets LLC, Fastrac Transportation of New York LLC and related real estate entities on the sale of its 54 convenience retailing and petroleum marketing assets in New York to EG America LLC, a subsidiary of Blackburn, U.K.-based EG Group Ltd., Matrix announced.

The transaction also includes Fastrac’s wholesale fuel and transportation businesses.

“Matrix has watched the growth and evolution of this dynamic company since its creation in 1998,” said Spencer Cavalier, co-head of Matrix’s Downstream Energy & Convenience Retail Group. “Fastrac’s owners and management team invested skillfully in high-traffic real estate locations and modern and expansive facilities, which allowed the company to become a cutting-edge, high-volume retailer in both the forecourt and backcourt. Matrix is honored to have advised the shareholders on their extremely successful exit from the industry.”

Headquartered in Syracuse, New York, Fastrac is a convenience retailer and petroleum marketer across the Rochester-Syracuse-Albany region. During the past 20 years, management grew the brand by building attractive fueling sites on expansive lots with large convenience stores. The stores offer high-quality, made-to-order foodservice and a full line of competitively priced traditional convenience merchandise.

Matrix provided merger and acquisition advisory services to Fastrac, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation. Transaction managers were Cavalier, director Sean Dooley, senior associate Christian Klawunder and analyst John Mickelinc.

Matrix’s Downstream Energy & Convenience Retail Group provides transactional advisory services to companies in the downstream energy and multisite retail sectors including convenience retailing, petroleum marketing and distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum transportation and logistics, terminals and bulk plants, food service and specialty retail. Team members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate restructurings, corporate valuations and strategic planning engagements. Since its inception in 1997, this group has completed more than 225 engagements with a total transaction value of more than $10 billion.

Founded in 1988, Matrix Capital Markets Group Inc. is an independent, advisory-focused, privately held investment bank headquartered in Richmond, Virginia, with offices in Baltimore, Chicago and Dallas. Matrix provides merger and acquisition and financial advisory services for privately held, private equity-owned and publicly traded companies, including company sales, recapitalizations, corporate carve outs, corporate recovery, management buyouts, capital raises of debt and equity, corporate valuations, fairness opinions and business consulting. Matrix serves clients in industries including downstream energy, convenience retail, industrial products, building products, consumer products and business services.