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PALM BEACH GARDENS, Fla. -- Petroleum Consolidators of America Inc., a gas station and convenience store operator, entered into a major financing agreement with Sunderland Capital LLC in the form of a $10 million equity line.
"This financing is a critical milestone in our company's history," David Cohen, president and CEO of Petroleum Consolidators, said in a statement. "It sends a clear and positive message to our industry that we will have the resources to continue moving forward with our business plan to build a regional presence of gasoline stations with convenience stores, wholesale fuel supply contracts and an infrastructure of producing oil wells."
Petroleum Consolidators is implementing a targeted acquisition strategy to create a portfolio of consolidated retail gas facilities, producing oil wells and a wholesale fuel distributorship that will benefit from substantial operating efficiencies.
Sunderland Capital is a West Palm Beach, Fla.-based private equity firm engaged in supporting growth companies in all facets of their long-term strategy by providing capital through private investments in public equities (PIPEs), reverse mergers and assisting with progressive business solutions. Sunderland assists in facilitating the growth of companies located throughout North America, China and Europe.