The Company is a $180 million operator of 40 owned and leased petroleum/convenience stores that was underperforming in certain locations.

Fort Dearborn assisted the Company with several initiatives including:

• Implemented a price increase for in-store merchandise;
• Reduced payment terms with the two largest suppliers, and negotiated additional vendor discounts and incentives;
• Developed food service strategy for the stores;
• Reduced number of SKU’s in inventory;
• Installed automated perpetual inventory system with radio-frequency scanning (RF) capabilities;
• Sold 2 underperforming stores and terminated land lease;
• Evaluated management team and upgraded certain members of the management team; and
• Prepared financial forecast, factoring in the strategic and tactical operating plans and unusual working capital unique to the industry.

Improved profitability by $500,000 annually.

Refinanced loan facility with existing lender.

Generated over $3 million of EBITDA, generating approximately $1.8 million of free cash flow after CapEx and debt service.

Provided management with the capital and senior debt to acquire new stores.

FDP consultant now serves on the Company’s advisory board.