--- title: Mergers & Acquisitions | PetroCal Associates description: Selling a carwash or gas station requires attention to detail, preparation and knowledge of critical issues. Lean on our experience to expertly support you --- Contact us any time for a no-obligation consultation.  |  [310.401.0055](tel:+13104010055)  |  [info@petrocalassociates.com](mailto:info@petrocalassociates.com) [![petrocal-full-color-logo](https://www.petrocalassociates.com/hubfs/petrocal-full-color-logo.svg "petrocal-full-color-logo")](https://www.petrocalassociates.com) - [Financing ](https://www.petrocalassociates.com/financing) - [Overview ](https://www.petrocalassociates.com/financing) - [Middle Market Lending ](https://www.petrocalassociates.com/middle-market-lending) - [Small Business Lending ](https://www.petrocalassociates.com/small-business-lending) - [Construction Financing ](https://www.petrocalassociates.com/construction-financing) - [Real Estate Brokerage ](https://www.petrocalassociates.com/brokerage) - [Overview ](https://www.petrocalassociates.com/brokerage) - [Seller Representation ](https://www.petrocalassociates.com/brokerage/seller-representation/) - [Mergers & Acquisitions ](https://www.petrocalassociates.com/brokerage/mergers-acquisitions) - [Buyer Representation ](https://www.petrocalassociates.com/brokerage/buyer-representation/) - [Landlord / Tenant Representation ](https://www.petrocalassociates.com/brokerage/landlord-representation/) - [Listings ](https://www.petrocalassociates.com/brokerage/listings) - [Why PetroCal ](https://www.petrocalassociates.com/why-petrocal/) - [Transactions ](https://www.petrocalassociates.com/transactions) - [Our Team ](https://www.petrocalassociates.com/meet-the-team) - Resources - [Blog ](https://www.petrocalassociates.com/blog) - [In the News ](https://www.petrocalassociates.com/in-the-news) - [Free Consultation ](https://www.petrocalassociates.com/contact-us) - [Financing ](https://www.petrocalassociates.com/financing) - [Overview ](https://www.petrocalassociates.com/financing) - [Middle Market Lending ](https://www.petrocalassociates.com/middle-market-lending) - [Small Business Lending ](https://www.petrocalassociates.com/small-business-lending) - [Construction Financing ](https://www.petrocalassociates.com/construction-financing) - [Real Estate Brokerage ](https://www.petrocalassociates.com/brokerage) - [Overview ](https://www.petrocalassociates.com/brokerage) - [Seller Representation ](https://www.petrocalassociates.com/brokerage/seller-representation/) - [Mergers & Acquisitions ](https://www.petrocalassociates.com/brokerage/mergers-acquisitions) - [Buyer Representation ](https://www.petrocalassociates.com/brokerage/buyer-representation/) - [Landlord / Tenant Representation ](https://www.petrocalassociates.com/brokerage/landlord-representation/) - [Listings ](https://www.petrocalassociates.com/brokerage/listings) - [Why PetroCal ](https://www.petrocalassociates.com/why-petrocal/) - [Transactions ](https://www.petrocalassociates.com/transactions) - [Our Team ](https://www.petrocalassociates.com/meet-the-team) - Resources - [Blog ](https://www.petrocalassociates.com/blog) - [In the News ](https://www.petrocalassociates.com/in-the-news) - [Free Consultation ](https://www.petrocalassociates.com/contact-us) # Mergers and Acquisitions ##### When it’s time for you to step away from your carwash or gas station business, you’ll need a trusted partner to maximize your value and ensure a smooth process. [ TALK TO A PETROCAL ADVISOR ](https://meetings.hubspot.com/joe-kurschner) ## The Benefits We Offer as Your Sell-Side Advisor Selling a carwash or gas station portfolio is a complex process that requires attention to detail, immense preparation, and intimate knowledge of critical issues. Lean on our extensive experience to expertly support you with: ![icon-checklist](https://www.petrocalassociates.com/hubfs/icon-checklist.svg) ##### Step 1 SALE PREPARATION - Pre-process valuation of the company to determine the target sale price - Work with you and your advisors on tax and legal considerations to optimize proposed transaction structure - Curate and interview prospective list of buyers with various motivations (defensive, new market entrant, expansion, etc.) - Create detailed and professional CIM showcasing the business you’ve built - Review and catalogue all due diligence materials and populate virtual data room ![icon-the-process](https://www.petrocalassociates.com/hubfs/icon-the-process.svg) ##### Step 2 THE PROCESS - Distribute Teaser Email to Approved Prospective Buyers - Obtain Confidentiality Agreements - Distribute CIM and commence the invite-only competitive bid process to procure multiple offers ![icon-handshake-deal](https://www.petrocalassociates.com/hubfs/icon-handshake-deal.svg) ##### Step 3 NEGOTIATION AND CLOSING - Once offers are received, review and evaluate the pros and cons of each, and negotiate the best deal - Support your team to prepare for transition to new ownership - Work alongside your legal, tax, and other advisors on finalizing agreements and post-closing financial planning - Work with the buyer’s team to complete due diligence, resolve open items, and get the deal closed ![icon-the-process](https://www.petrocalassociates.com/hubfs/icon-the-process.svg) ##### Step 2 THE PROCESS - Distribute Teaser Email to Approved Prospective Buyers - Obtain Confidentiality Agreements - Distribute CIM and commence the invite-only competitive bid process to procure multiple offers ![icon-handshake-deal](https://www.petrocalassociates.com/hubfs/icon-handshake-deal.svg) ##### Step 3 NEGOTIATION AND CLOSING - Once offers are received, review and evaluate the pros and cons of each, and negotiate the best deal - Support your team to prepare for transition to new ownership - Work alongside your legal, tax, and other advisors on finalizing agreements and post-closing financial planning - Work with the buyer’s team to complete due diligence, resolve open items, and get the deal closed ![icon-checklist](https://www.petrocalassociates.com/hubfs/icon-checklist.svg) ##### Step 1 SALE PREPARATION - Pre-process valuation of the company to determine the target sale price - Work with you and your advisors on tax and legal considerations to optimize proposed transaction structure - Curate and interview prospective list of buyers with various motivations (defensive, new market entrant, expansion, etc.) - Create detailed and professional CIM showcasing the business you’ve built - Review and catalogue all due diligence materials and populate virtual data room ##### "PetroCal Associates was the best broker for our family during what could have been a stressful time while facing uncertainty in the market. We chose to work with PetroCal Associates for their experience with large M&A deals, but more importantly, we felt that they could provide us with the attention that only a boutique firm can. In the end, we were very happy with the outcome, and we are already looking forward to the next opportunity to work with PetroCal Associates." - Multi-Site Carwash Operator, Los Angeles County ## Steps to Take as the Seller #### DOCUMENTATION ROUND 1 ##### Be prepared to invest the time to compile all the documentation necessary for a sale. You’ll need to provide the following: - ##### Financial information - 3 years’ income statements and balance sheets - 3 years’ corporate tax returns ##### Property information - Date of opening - Construction plans - Survey - List of all equipment - Description of any recent upgrades or improvements - For leased locations, copy of lease - ##### Operating information - 3 years’ POS reports - 3 years’ membership analysis reports (if applicable) - Copies of long-term contracts, including frachise and supply agreements - Details of any price changes* - Details of any active promotions/discounts* *Applicable to carwash, not gas station #### ANALYSIS & ADJUSTMENTS ##### Once you’ve provided all of the above information, PetroCal will conduct an initial valuation. We want to make sure you get credit for every dollar of cash flow, so we’ll look to you to provide information for adjustments to normalize the cash flow for the buyer including: - - Items that were expensed, but should’ve been capitalized - Ensuring all non-recurring extraordinary expenses are accounted for - Ensuring any non-recurring business interruption events are accounted for - Ensuring any owner’s expenses or discretionary expenses that would cease after the closing are accounted for - Please note: Although there’s a lot of paperwork to put together, assembling it is time well spent for this once-in-a-lifetime transaction. Having this information collected and organized will proactively minimize setbacks and prepare you for a successful sale. Plus, most of this paperwork just needs to be gathered versus created. #### DOCUMENTATION ROUND 2 ##### Once we’re in alignment on the valuation, we’ll request supporting financial documentation including but not limited to: ##### SUPPORTING FINANCIAL DOCUMENTATION - - Business bank statements and bank reconciliations - Trial balances and general ledger - Utility bills - - Tax bills and filings - Vendor bills and agreements from largest vendors/suppliers - Payroll reports #### DOCUMENTATION ROUND 3 ##### After a buyer is selected, there will be one additional round of documentation needed from you to complete due diligence and closing: ##### SUPPORTING FINANCIAL DOCUMENTATION - - All corporate documents - All permits and licenses - Vendor and customer contracts - Employee handbooks, benefit plans and agreements - Insurance certificates and loss runs - Notices from governmental agencies - - Injury logs - IP registrations - Litigations and compliance documentation - Phase I/Phase II ESAs - SDS sheets for all hazardous materials or chemicals in use - Summary of outstanding deferred maintenance items - And more… ##### "PetroCal Associates was instrumental in orchestrating our growth and expansion plans spanning multiple years, from arranging construction financing for our development projects to advising us on our recent exit... With their industry know-how, they approached us about exploring a sale when the timing was right and they were the only company we'd trust to represent us in a sale given their honesty, reliability, connectedness within the industry, and reputation. They ran a smooth and thorough process, and we couldn't be more pleased with the result." -Fred Simab Co-Founder of The Speedwash ![icon-carwash-1](https://www.petrocalassociates.com/hubfs/petrocal-2021/icon/icon-carwash-1.svg) ![icon-gas-pump](https://www.petrocalassociates.com/hubfs/petrocal-2021/icon/icon-gas-pump.svg) ### Yes, I’d like to talk to a PetroCal M&A Advisor ##### You’ve spent a lot of time, energy, and capital building a profitable business. ##### You deserve the full value of your hard work when it’s time to exit. ##### Rely on PetroCal as your experienced and trusted partner to bring your goals to fruition. [ GET IN TOUCH ](https://meetings.hubspot.com/reuven6?uuid=e6c96b2f-c5be-4d14-826e-e8bda817db31) ![icon-carwash-2](https://www.petrocalassociates.com/hubfs/petrocal-2021/icon/icon-carwash-2.svg) ![icon-c-store](https://www.petrocalassociates.com/hubfs/petrocal-2021/icon/icon-c-store.svg) [![Petrocal Associates](https://www.petrocalassociates.com/hubfs/petrocal-2021/icon/PetroCal-logo-black.svg "Petrocal Associates")](https://petrocalassociates.com/?__hstc=233546881.3d5b3932746b7e37ae3f2b3565dbaec2.1632159892026.1639516006062.1639581748479.70&__hssc=233546881.1.1639581748479&__hsfp=3750977655) The trusted partner every operator needs by their side. ##### Financing - [ Middle Market Lending ](https://www.petrocalassociates.com/middle-market-lending) - [ Small Business Lending ](https://www.petrocalassociates.com/small-business-lending) - [ Construction Financing ](https://www.petrocalassociates.com/construction-financing) ##### Real Estate Brokerage - [ Seller Representation ](https://www.petrocalassociates.com/brokerage/seller-representation/) - [ Buyer Representation ](https://www.petrocalassociates.com/brokerage/buyer-representation/) - [ Landlord / Tenant Representation ](https://www.petrocalassociates.com/brokerage/landlord-representation/) ##### Helpful Links - [ Why Choose PetroCal? ](https://www.petrocalassociates.com/why-petrocal/) - [ Transactions ](https://www.petrocalassociates.com/transactions) - [ Blog ](https://www.petrocalassociates.com/blog) - [ Carwash Industry ](https://www.petrocalassociates.com/carwash) - [ Gas Station Industry ](https://www.petrocalassociates.com/gas-station) - [ Contact Us ](https://www.petrocalassociates.com/contact-us) - [ Careers ](https://www.petrocalassociates.com/careers) PetroCal Associates CA Dept. of Real Estate Real Estate Broker DRE #01929754 [P: 310.401.0055 E: ](tel:310.401.0055)[info@petrocalassociates.com](mailto:info@petrocalassociates.com)   - [** ](https://www.facebook.com/PetroCalAssociates/) - [** ](https://www.instagram.com/petrocalassociates/) - [** ](https://www.linkedin.com/company/petrocal-associates/) - [** ](https://www.youtube.com/playlist?list=UUPXFgvD1r5-yuA232m7Q9DA) - [** ](https://twitter.com/petrocalassoc) [Privacy Policy](https://www.petrocalassociates.com/privacy) | Copyright © 2026 MDCA Ventures, Los Angeles, CA.