CINCINNATI–(BUSINESS WIRE)–Fifth Third Securities, Inc. served as the exclusive financial advisor to Par Mar Oil Company on their recent acquisition by Croton Holding Company.
The closing of the transaction represents the second downstream petroleum M&A success for Fifth Third Securities this year, coming shortly after CST Brands’ $425 million acquisition of Flash Foods, Inc. in February. Fifth Third represented the seller, Flash Foods, in that transaction.
“This transaction highlights the continued strategic activity in this industry and the value of partnering two organizations that can grow by leveraging their complementary expertise,” said Rob Bohn, Fifth Third Bank’s director of downstream petroleum investment banking.
Based in Marietta, Ohio, Par Mar Oil Company operates 52 convenience stores and several car washes in West Virginia, Ohio and Kentucky, which are branded with BP, Shell, Marathon and Exxon fuel. The Company also includes 16 quick-service restaurants, branded as A&W, Fazoli’s, Quiznos, Subway and Par Mar’s proprietary food service.
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Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $141 billion in assets and operates 1,254 full-service Banking Centers, including 95 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,593 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2015, had $297 billion in assets under care, of which it managed $26 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC.
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