Janas announces sale of Sierra Energy’s Bulk Plant
Janas announces sale of Sierra Energy’s Bulk Plant – 05/13/08
Janas Associates is pleased to announce the sale of Sierra Energy’s Bulk Plant and Cardlock Operations to Hunt & Sons, Inc. Janas Associates represented the owners of Sierra by identifying interested buyers, structuring the sale, and supporting completion of the transaction.
Sierra Energy is a multi-faceted distributor serving customers from bulk plants, cardlocks, wholesale distribution, and convenience stores. Hunt & Sons, Inc. is a premier provider of fleet fueling services, lubricants, petroleum equipment, and bulk fuels.
The Bush Tax Credits are scheduled to expire in 2010. Congress continues to discuss a fix for the Alternative Minimum Tax (“AMT”). A fix becomes more expensive every year. Under rules considered, extending the expiring Bush tax provisions and fixing the AMT will require and estimated $10 TRILLION over ten years. Do not be surprised to see a significant increase in the capital gains rate. If you are considering a sale within the next five years, you should consider the potential tax benefits of selling sooner rather than later.
Janas Associates is the leading middle market investment banker representing buyers and sellers in the petroleum distribution industry. For more information, please contact Mike Poma, Managing Director at Janas Associates (former Owner of Poma Distributing) at 626-432-7000.