Recognized at the 4th Annual Middle Market Atlas Awards hosted by The Global M&A Network
Carter Morse & Goodrich ("CMG") is proud to announce that it was the recipient of two Deal of the Year awards at the 4th Annual Global M&A Middle Market Atlas Awards ceremony hosted by The Global M&A Network on May 4, 2022.
"We are honored to be recognized again by our peers in connection with these prestigious awards. Its particularly gratifying two win in these two competitive categories during a vibrant M&A environment that was challenged by both the COVID pandemic and meaningful supply chain issues," said Michael Carter, Managing Partner at CMG.
Consumers Petroleum of Connecticut
The sale of Consumers Petroleum of Connecticut (dba “Wheels of CT”) to Global Partners LP (NYSE: GLP) won the 2022 Corporate Deal of the Year award. CMG served as the exclusive financial advisor to Wheels.
Tracing its roots back to 1936, Wheels is a third-generation family-owned company that operates 27 premium fuel and retail convenience store locations throughout Fairfield and New Haven counties in Connecticut and operates a wholesale distributor of branded petroleum products serving other gasoline retailers in Connecticut, New York and New Jersey.
The transaction comes at a time of great enthusiasm for the Fuel & Convenience Retail industry. M&A activity in the sector continues to surge as strategic buyers consolidate the market. CMG continues to predict sustained tailwinds for M&A in the sector for the foreseeable future. As a result, CMG has recently launched a dedicated M&A advisory service, augmented with two former CEOs of middle market chains within the fuel and retail convenience industry. “We are excited to leverage our 35-year history of providing quality advice to founder-led and family-owned businesses, and now focused specifically on the underserved Fuel & Convenience Retail space.” commented Michael Carter, Managing Partner of CMG.
The sale of Carling Technologies (“Carling”) to Littlefuse, Inc. (NYSE: LFUS) won the 2022 Industrial Tech Deal of the Year award. CMG served as the exclusive financial advisor to Carling.
Having just celebrated its 100th anniversary, Carling Technologies is a 4th generation family-owned provider of high-quality switching and circuit protection technologies to a diverse OEM and distributor customer base with expertise in commercial vehicle, marine and datacom/telecom infrastructure markets. With major operations in the U.S., Mexico, China and the United Kingdom and offices in Germany, France and India, Carling generates approximately $170 million in annualized revenue and has more than 2,800 employees.
Ramsey Goodrich, Managing Partner of CMG, shared “We have enjoyed a long relationship with the Sorenson family and the Carling management team. It is incredibly rewarding to represent them in this once-in-a-lifetime opportunity and ensure the enduring family legacy and management continuity.”
About the M&A Atlas Awards
The M&A Atlas Awards is a prestigious, independently governed Award that honors excellence in the categories of deals, teams, and outstanding firms. “The winners exemplify excellence for executing transactions during very competitive deal activity of the past year,” said Shanta Kumari, CEO of The Global M&A Network.