#Pester marketing company pdf#
#Pester marketing company trial#

#Pester marketing company trial#

The trial court's memorandum decision contains a comprehensive discussion of the evidence and applicable law upon which we could not improve.

Pester appealed to the Shawnee district court which affirmed the ruling of the hearing examiner. The hearing examiner agreed and ordered that Pester pay back wages and penalties in the amount of $1,086.26 to claimant Yuille and $1,029.12 to claimant Flaherty. They argued that the deductions from their bonuses constitute deductions from wages prohibited by K.S.A. The claimants in this case are two former managers of Pester stations who had amounts deducted from their 'bonuses' and *465 who filed claims for wages with the Kansas Department of Human Resources. These amounts are the maximum 'bonus' a manager may receive certain cash and inventory shortages, bad checks, and theft losses are deducted from the bonus before the manager receives it. If the station only sells gas and related items, the manager's bonus is $450 if he or she works 54 hours per week and $400 for 60 hours per week. Pester Marketing Company has what it calls a 'two-part compensation plan' for its gasoline station managers, under which the manager is paid $3.35 per hour up to forty hours per week, $5.03 per hour for overtime hours, and a monthly 'bonus.' If the station is a convenience store operation, the manager's bonus is $550 per month if the manager works 54 hours per week, and $500 per month if he or she works 60 hours per week. This is an appeal by an employer, Pester Marketing Company, from a judgment affirming a decision of the Department of Human Resources awarding back pay and statutory penalties to the two claimants, former employees. Rute, of Kansas Department of Human Resources, for the appellees.īefore FOTH, C.J., PARKS and BRISCOE, JJ. Schneider, of Schneider & Casebeer, of Coffeyville, for the appellant. served as legal counsel for Pester.SUSAN L. We look forward to watching the Company continue to grow under its new ownership.”Ĭhristopher Sackett and Jonathan Napier of BrownWinick, P.L.C. The current ownership group and management team, which was led by CEO Rich Spresser during both transactions, have grown and significantly improved the chain. Cavalier added, “It is very special to have advised Pester on the sale of the Company for a second time. The sale process was extremely well executed, and we were very pleased with the outcome.” Spresser said, “We sincerely appreciate the guidance and attention to detail that Matrix provided throughout a very complicated transaction. I am excited to see the businesses continue with such well-respected organizations.” While it was time for the current shareholders to monetize their investment, we look forward to seeing Pester grow with Rich’s further stewardship under the new ownership of Fortress and Phillips 66. Sam Youngblood, General Partner and Board Chairman, commented, “Working with the team at Matrix on the sale process, and with Rich Spresser over the past several years has been a very positive experience. The transaction was managed by Spencer Cavalier, Co-Head of Matrix’s Downstream Energy & Convenience Retail Group Sean Dooley, Director and Martin McElroy, Associate. Matrix provided merger and acquisition advisory services to Pester, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the purchase agreement. Post-closing, senior executive management, including Richard Spresser and Monte McGilvray, CFO, will continue to lead the Company. In January 2018, under the guidance of Pester’s President & CEO, Richard Spresser, the acquisitions of Western Convenience and Kwik Stop were consummated and increased the Company’s store count to over 100. WFS retained the non company-operated store business units. The ownership group originally acquired Pester’s 47 company-operated stores in May 2016 as a spin-off from World Fuel Services Corporation (NYSE: INT) (“WFS”), after WFS’s purchase of Pester in September 2015. (“Matrix”), a leading, independent investment bank, announces that it has advised Pester Marketing Company (“Pester” or the “Company”) d/b/a Alta Convenience on its sale to a joint venture entity between Fortress Investment Group LLC (“Fortress”) and a subsidiary of Phillips 66 Company (NYSE: PSX).įor nearly 65 years, the Pester name, and more recently Alta Convenience, has been a leader in petroleum marketing and convenience retailing throughout the Rocky Mountain, Southwest, and Midwest regions of the United States. RICHMOND, VA/BALTIMORE, MD – Janu–Matrix Capital Markets Group, Inc.

#Pester marketing company pdf#

Download PDF » Matrix Announces the Successful Sale of Pester Marketing Company d/b/a Alta Convenience