Case Study: Matrix Advises on the Sale of Bobby Taylor Oil Company, Inc. & T&S Transport, Inc. to Parker Oil Company 

Bobby Taylor Oil Company, Inc. and T&S Transport, Inc. (“BTOC” or the “Company”) were leading suppliers of retail propane, commercial refined fuels, and racing gas to nearly 6,000 residential and commercial accounts throughout the state of North Carolina.  

The Company was founded in August 1963, and at that time, operated out of Mr. Bobby Taylor’s home in Fayetteville, NC. During its first year of business, the Company sold fuel oil, kerosene, and gasoline to its local customers with just one tank wagon. After several years of expansion, BTOC added propane and racing gas to its product mix and further expanded throughout central NC. 

Following his father’s retirement in the early 2000’s, Mr. Johnny Taylor Jr. assumed the role of President of Bobby Taylor Oil and led the Company through several decades of success and growth. At the time of sale, the Company operated two bulk plants in Fayetteville and Elizabethtown, NC and employed over 30 dedicated associates. 

Matrix was initially retained to perform a strategic review of the enterprise in order to explore various potential exit options, including the possibility of a sale of the propane division and the refined fuels division to multiple buyers. 

The BTOC shareholders ultimately decided to exit the industry in order to diversify and focus on other ventures. 

Matrix provided merger and acquisition advisory services to BTOC, which included valuation advisory, marketing of the business through a confidential, structured sale process, and negotiation of the transaction. 

The process included a buyer pool of regional and national propane marketers & commercial refined fuels distributors. Matrix executed a customized sale process to solicit offers for the entire company, as well as select operating divisions to determine the best path forward. Multiple offers were received, and Parker Oil Company Inc. was ultimately selected as the acquirer. 

Matrix assisted in the negotiation of the purchase agreement and coordinated the due diligence and closing process.  The transaction with Parker Oil closed in January 2024. 


John Duni

John C. Duni, CFA, CPA
Vice President 

(804) 591-2031 

Richmond Baltimore New York 

About Matrix’s Downstream Energy & Convenience Retail Investment Banking Group 

Matrix’s Downstream Energy & Convenience Retail Investment Banking Group is recognized as the national leader in providing transactional advisory services to companies in the downstream energy and multi-site retail sectors including convenience retailing, petroleum marketing & distribution, propane distribution, heating oil distribution, lubricants distribution, petroleum logistics, terminals, car washes and quick service restaurants. Group members are dedicated to these sectors and draw upon complementary experiences to provide advisory services to complete sophisticated merger and acquisition transactions, debt and equity capital raises, corporate valuations, special situations and strategic planning engagements. Since 1997, our Downstream Energy & Convenience Retail Investment Banking Group has successfully completed over 300 engagements with a total transaction value of more than $15 billion. 

Securities offered by MCMG Capital Advisors, Inc., an affiliate of Matrix Capital Markets Group, Inc., Member FINRA & SIPC