CF Altitude has sold its branded wholesale dealer business to World Fuel. Matrix provided merger and acquisition advisory services to CF Altitude, including valuation advisory and the execution of a confidential, structured sale process. The transaction was managed by Cedric Fortemps, CFA, Co-Head of Matrix’s Downstream Energy & Convenience Retail Investment Banking Group; John Duni, CFA, CPA, Director; Michael Tucker, CFA, Vice President; and Josh Polce, CPA, Analyst.
Fortemps noted, “We are pleased to have advised CF Altitude on this transaction and greatly appreciate the opportunity to have worked with their fantastic team. We believe this is an excellent outcome for both parties, allowing the Company to further focus on its core retail operations while providing World Fuel with an opportunity to continue growing its branded wholesale fuels business.”
Bryan Ikegami of Reed Smith LLP served as legal counsel to CF Altitude.
