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Corner Capital Assists in Sale of New Orleans Gas Stations

Santa Barbara-based company advised on sales and operations strategy.

Andy Weber, CEO of Corner Capital Partners LLC, recently announced the successful acquisition of the retail and wholesale assets of Motiva Enterprises LLC by Corner Capital client Lavigne Baker Petroleum LLC.

Motiva, a wholly owned subsidiary of Shell Oil Co., has embarked on a divestiture program of its real estate, retail and distribution assets in markets across the country. Lavigne Baker Petroleum LLC is a privately held retailer and distributor of Shell-branded fuels and products in Louisiana. It acquired 51 retail assets and wholesale distribution rights to the greater New Orleans market, closing on Feb. 18. Terms were not disclosed.

Corner Capital Partners advised its client on the asset valuation and financing structure for the transaction, and provided strategic planning for the ongoing operations of the New Orleans market.

Corner Capital Partners LLC is a Santa Barbara-based boutique investment banking firm, providing services in mergers and acquisitions, recapitalizations and financing, and distressed business advisory, with a specialty in retail businesses.

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