Denton, Texas-based Martin Eagle Oil Company sold its municipal and commercial fuels businesses and transportation affiliate Southwest Transport Co. to Appleton, Wisc.-based U.S. Venture Inc., a privately held company that distributes and markets energy, automotive and lubricant products throughout North America.
Martin Eagle is a petroleum marketer that serves customers primarily in and around the Dallas-Fort Worth metroplex and north central Texas. The company currently markets or supplies fuels to retail outlets, municipal/government and commercial accounts.
Martin Eagle is a second-generation family business that was founded in 1963 by Cecil “Zeke” Martin, a former college and professional football standout, with a single Shamrock-branded store in Denton, Texas. The company is currently led by Zeke Martin’s sons, Stephen “Steve” Martin, president of operations, and Gary Martin, president of real estate.
The business has grown to include the municipal and commercial fuels businesses, a retail business consisting of 19 owned retail sites, over 45 supplied sites and Southwest Transport Co.
Southwest Transport Co. is a Martin Eagle affiliate that transports and distributes fuels to customers of Martin Eagle, as well as other third-party customers.
“It was not an easy decision for us to sell a part of Martin Eagle Oil that our family has built and run for over 60 years,” said Steve Martin. “We have had great relationships with our municipal and commercial customers over the years, and the Southwest Transport team has efficiently served and met all our customer delivery requirements. U.S. Venture will be a good fit for this business given their terminal located in Fort Worth and their overall investments in the Dallas-Fort Worth metroplex. Gary and I believe that U.S. Venture, also a family-owned company, will be a great place for our employees to continue their careers. I really appreciate all the efforts of the Matrix team in bringing this sale to fruition; they have worked tirelessly to market and complete the transaction.”
Martin Eagle was advised by independent investment bank Matrix Capital Markets Group Inc.
Bryon Hammer and Elle Whitaker of Bourland, Wall & Wenzel, P.C. served as legal counsel for Martin Eagle.