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Joele Frank handles Travel Centers of America as the nation’s biggest truck stop/convenience store chain gets acquired by British energy giant BP in a deal pegged at $1.3B.
BP is shelling out $86 cash per share for TA, which represents a whopping 84 percent premium over its 30-day average trading priced ended Feb. 15.
TA CEO Jonathan Pertchik said BP’s offer follows “the successful implementation of our turnaround and strategic plans,” which includes the launch of the eTA alternative fuels program.
The Westlake, OH-based company posted a 54.7 percent revenue boost to $8.2B during the nine-month period ended Sept. 30. Net income soared 158.4 percent to $117.2M.
TA, which operates 281 truck stops in 44 states, had received unsolicited takeover bids from companies other than BP.
Joele Frank, Wilkinson Brimmer Katcher has Andrew Segel and Jack Kelleher representing TA.
FGS Global represents Copart as the online vehicle auction company acquires auto marketplace and data services business ACV, a Joele Frank client, in a deal valued at $1.9B.
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
C Street Advisory Group is handling the Chapter 11 filing of LIV Golf following the move by Saudi Arabia’s Public Investment Fund to pull the financial plug on the League. (Updated)
Teneo handles Bamboo Insurance Services as the Midvale, UT-based marketer of homeowner policies files a Form S-1 statement with the SEC for an initial public offering.
FTI Consulting handles West Marine as the nation’s leading retailer of marine parts and accessories for boating, fishing and sailing enthusiasts emerges from Chapter 11 bankruptcy.
