M&A Deal Summary

GPM Investments Acquires Lemmen Oil

On November 16, 2016, GPM Investments acquired retailer Lemmen Oil from Sun Capital Partners

Acquisition Highlights
  • This is GPM Investments’ 4th transaction in the Retail sector.
  • This is GPM Investments’ 4th transaction in the United States.
  • This is GPM Investments’ 2nd transaction in Michigan.

M&A Deal Summary

Date 2016-11-16
Target Lemmen Oil
Sector Retail
Buyer(s) GPM Investments
Sellers(s) Sun Capital Partners
Deal Type Add-on Acquisition

Target

Lemmen Oil

Coopersville, Michigan, United States
Lemmen Oil Co. is a convenience store business based in the Midwest. Lemmen-branded gas and convenience stores across Michigan and Indiana.

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Buyer(S) 1

Buyer

GPM Investments

Richmond, Virginia, United States

Category Company
Sector Retail
DESCRIPTION

GPM Investments is a privately-owned convenience store operator and branded fuel distributor in the U.S. GPM Investments is based in Richmond, Virginia.


DEAL STATS #
Overall 4 of 6
Sector (Retail) 4 of 4
Type (Add-on Acquisition) 3 of 5
State (Michigan) 2 of 2
Country (United States) 4 of 6
Year (2016) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-16 Admiral Petroleum

Coopersville, Michigan, United States

Admiral Petroleum Co. Inc. is a convenience store business based in the Midwest. The Company, which had been family owned and operated since 1905, is headquartered in Coopersville, Michigan, and includes 130 Admiral-branded gas and convenience stores.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-18 Empire Petroleum Holdings

Dallas, Texas, United States

Empire Petroleum Holdings LLC is a distributor of fuel and fuel products on the East Coast. Empire Petroleum operates as a wholesaler between petroleum companies and retail gas stations. Empire Petroleum Holdings was founded in1998 and is based in Gaithersburg, Maryland.

Buy -

Seller(S) 1

SELLER

Sun Capital Partners

Boca Raton, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 13.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Sun Capital's corporate headquarters in Boca Raton, Florida.
Sun Capital's corporate headquarters in Boca Raton, Florida.

Sun Capital Partners is a large private equity firm focused on leveraged buyouts, equity, debt, and other control investments in North America, Asia, and Europe. Sun looks for businesses that can benefit from the Firm's operating experience including underperformers, turnarounds, and special situations. Target companies typically have $50 million to $1 billion in revenue with strong market positions. Sectors of interest include paper and packaging, food and beverages, metals and mining, automotive after-market parts, consumer products, financial services, healthcare, media and communications, building products, telecommunications, technology, retailing and catalogs, restaurants, manufacturing and industrial. Sun Capital was formed in 1995 and is based in Boca Raton, Florida.


DEAL STATS #
Overall 81 of 127
Sector (Retail) 15 of 24
Type (Add-on Acquisition) 32 of 53
State (Michigan) 6 of 6
Country (United States) 60 of 88
Year (2016) 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-16 Admiral Petroleum

Coopersville, Michigan, United States

Admiral Petroleum Co. Inc. is a convenience store business based in the Midwest. The Company, which had been family owned and operated since 1905, is headquartered in Coopersville, Michigan, and includes 130 Admiral-branded gas and convenience stores.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-22 Hewden Stuart

Manchester, United Kingdom

Hewden is an equipment rental company, providing equipment rental and contract management services to key businesses in virtually every sector of British industry. Equipment rental typically includes cranes, dumpers, excavators, access platforms and power generation tools.

Sell -