Haywood Oil is headquartered in Waynesville, N.C. and operates retail stores and serves wholesale customers throughout western North Carolina, as well as parts of South Carolina, Georgia and Tennessee.
Incorporated in 1952, Haywood Oil Co. has grown from a local home-heating oil delivery company into a leading petroleum marketer, fuels distributor and foodservice business. In 1973, David Blevins left Exxon to become president of Haywood Oil. The company grew through multiple acquisitions that brought additional convenience stores, bulk plants and fuel brands to the business.
Todd Blevins became president of Haywood Oil in 1999 and continued the company’s legacy of growth by making seven acquisitions over the next ten years and added a complementary branded foods division. The company grew its wholesale fuels business by providing its network of 100-plus dealers with site and building design, financing, fleet fueling and branded fuel options. The company’s fuel brand offerings consist of BP, Exxon, Mobil, Citgo and Sunoco, as well as independent brands.
“It was a difficult decision to sell the business. I am very thankful for the talented people that helped us build the company over the years. I enjoyed working with Cedric and his team at Matrix. They managed the sale from valuation to closing with an organized and professional process and I am very pleased with the outcome. In addition, Otto Konrad and his legal team at Williams Mullen were excellent to work with and helped make this transaction a success,” Blevins commented.
“Todd Blevins and all members of his team have built a great organization. We hope to build upon their success and grow our footprint in western North Carolina and Tennessee,” Ben Smith, president of Majors Management, said.
Lawrenceville, Ga.-based Majors Management is an owner, developer and operator of convenience stores and a distributor of branded motor fuels. Majors and its affiliates supply fuel to over 1,000 convenience store locations. In the last two years, Majors has completed 12 acquisitions across 11 states and expanded its geography in the mid-Atlantic and Texas while complementing its footprint throughout the Southeast.
Matrix Capital Markets Group, an independent investment bank, advised Haywood Oil on the sale.