“Cascadia has a long history of representing leading Northwest businesses across the industry sectors we serve. There is a growing interest in this region from financial investors and strategic acquirors alike, evidenced by another global player like World Fuel Services seeking a presence in the Northwest and acquiring a market leader in this geography.”
Case Study
Associated Petroleum Products
Overview
- Associated Petroleum Products, Inc. (“APP”) is a large privately held business in the Pacific Northwest
- The company is a leading full service provider of fuels, propane, lubricants and related equipment
- APP serves diversified end markets that include agriculture, automotive, aviation, construction, industrial, marine, mining, pulp and paper, rail and trucking
- The company’s facilities are strategically located along major high traffic interstates
Situation
- APP shareholders were exploring a full sale of the business
- Cascadia pitched and won the business against multiple investment banks from around the country due to its knowledge in the sector, close proximity to the management team and reputation for successful transactions
Cascadia Process
- Cascadia ran a controlled process reaching out to a select group of potential buyers
- Cascadia was able to drive “scarcity value” by positioning APP as the platform and “entrée into” the Pacific Northwest to key strategic buyers
- Cascadia drove a competitive process in which a select group of buyers were brought out to meet the management team
- Using the scarcity value concept, Cascadia then negotiated with the company’s preferred buyer
- The acquisition of APP by World Fuel Services was part of a broader strategy to expand aggressively into the Northwest
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