M&A Deal Summary

Chartwell Investments Entrepreneur & Founder Capital Acquires Petro Stopping Centers

On July 1, 1997, private equity firm Chartwell Investments Entrepreneur & Founder Capital acquired transportation company Petro Stopping Centers for 310M USD

Acquisition Highlights
  • This is Chartwell Investments Entrepreneur & Founder Capital’s 2nd transaction in the Transportation sector.
  • This is Chartwell Investments Entrepreneur & Founder Capital’s largest (disclosed) transaction.
  • This is Chartwell Investments Entrepreneur & Founder Capital’s 2nd transaction in the United States.
  • This is Chartwell Investments Entrepreneur & Founder Capital’s 1st transaction in Texas.
Investment Fate
  • Petro Stopping Centers was sold to a publicly-traded strategic buyer in 2007.

M&A Deal Summary
Date 1997-07-01
Target Petro Stopping Centers
Sector Transportation
Buyer(s) Chartwell Investments Entrepreneur & Founder Capital
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 310M USD

Target

Petro Stopping Centers

El Paso, Texas, United States
Petro Stopping Centers is a leading operator of large, full-service truck stops with a nationwide network of facilities in 27 states. The Cardwell family, Petro's founders, wanted to replace their existing financial partner with a firm that would facilitate deepening the management team and refinancing the Company for growth.

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Buyer(S) 1

Buyer

Chartwell Investments Entrepreneur & Founder Capital

New York, New York, United States

Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Chartwell Investments is a private equity firm that invests in US-based, mid-sized companies with 'strong market positions, sound business models, and meaningful growth prospects'. Areas of interest include consumer products, light manufacturing, distribution, infrastructure, natural resources, energy, building products, and business services. Chartwell seeks to invest $10 to $200 million of equity in transactions that include buyouts, recapitalization, and growth equity financings. The Firm has a special interest in solving family succession issues, intricate tax and public securities problems, as well as creating strategic partnerships. Chartwell will also consider turnaround situations or companies requiring operational improvement. Chartwell Investments was formed in 1992 and is based in New York City.

DEAL STATS #
Overall 2 of 17
Sector (Transportation) 2 of 4
Type (Buyout (LBO, MBO, MBI)) 1 of 5
State (Texas) 1 of 3
Country (United States) 2 of 17
Year (1997) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1996-10-24 TA Operating

West Lake, Ohio, United States

TA Operating LLC d/b/a Petro Stopping Centers is a leading operator of large, full-service truck stops with a nationwide network of facilities in 27 states. Through an investment banking firm, Petro’s founder and chairman, Jack Cardwell, Sr. contacted Chartwell. Cardwell wanted to replace his existing partner with someone who would work with him to enhance management and refinance the company for growth.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1997-10-15 Sunpark

Buffalo, New York, United States

SunPark operates off-site airport parking facilities throughout the U.S. offering storage, transportation and car care services to airline passengers at locations around the U.S. Working with the Snyder family who own SunPark, Chartwell conducted an extensive analysis of the industry to verify the opportunity, and then recapitalized the business and positioned it for growth.

Buy -
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