7-Eleven subsidiary acquires Harbor Petroleum's Contract Dealer Business

SEI Fuel Services, a wholly subsidiary of 7-Eleven, has completed the acquisition of the contract dealer business owned by Harbor Petroleum of New England.

The acquired company owns and operates convenience stores and supplies fuels throughout Connecticut. John Baker started Harbor Petroleum in 1981 with one station in Naugatuck and grew the business to its current level over a 35 year period.

“I firmly believe that our Company obtained not only the broadest regional coverage exposure possible but a representative national exposure to qualified buyers as well,” said Baker.

Matrix provided merger and acquisition advisory services to Harbor Petroleum, on the divestiture, which included valuation advisory, marketing of the assets through a customized, confidential, structured sale process, and negotiation of the transaction.

"Matrix is very happy to have helped John achieve his goal of selling the contract dealer business of Harbor Petroleum, we appreciated the opportunity to work with him to achieve his goals,” said John Underwood, Director at Matrix.