BEVERLY, Mass.--(BUSINESS WIRE)--Yesway today announced that it has hired industry veteran Joseph H. Petrowski as a Senior Advisor and member of the firm’s Executive Committee. He will report directly to Thomas Nicholas Trkla, the firm’s Chairman and Chief Executive Officer. Mr. Petrowski is joining Yesway at a key point in its development, and will work closely with Brian Trout and Mark Daniels, Yesway’s senior operations executives, to help manage the firm’s growth, improve operations and implement the firm’s business plan.
“Joe is a true legend in the convenience and fuel retailing space and I am honored to have him join the Yesway team,” stated Mr. Trkla. “His proven track record, decades of experience and industry connections will be invaluable to me and the rest of the senior management team as we execute our strategy to build a portfolio of up to 1,000 c-stores in the next several years.”
From 2005 through 2013, Mr. Petrowski led the Cumberland Farms Gulf Oil Group (“Cumberland Farms”), a diversified petroleum and retail convenience store holding company located in 29 states with more than 8,000 employees and $13 billion in annual revenues. Cumberland Farms is the 34th largest private company on the Forbes 500 list. During his tenure as CEO, the company achieved record earnings and in 2012, Mr. Petrowski was named as one of the nation’s “Top Private Company CEOs” by ExecRank, the nation’s definitive ranking service of executives. After leaving Cumberland Farms, Mr. Petrowski founded Mercantor Partners, a private equity group focused on downstream energy distribution and retail convenience.
“I have believed for a long while that the impetus for consolidation in the convenience and fuel retailing business creates major opportunities to generate great value in buying excellent assets, improving operations, developing economies of scale advantages and growing to a significant size chain,” stated Mr. Petrowski. “In Brookwood, I found the individuals who saw the industry as I did, who had a keen understanding of the drivers of value creation and who were willing to commit capital to realizing that goal.”
“I know I speak for Mark Daniels and the rest of the Yesway senior management team when I say that we are thrilled to have the opportunity to work closely with such a knowledgeable industry veteran,” stated Brian Trout. “He has been a driving force behind the evolution of the c-store and fuel retail space for over a decade and we will all benefit from his experience and wisdom.”
Mr. Petrowski is a member of the Board of South Jersey Industries (NYSE: SJI), a publicly traded natural gas utility and national energy merchant, a member of the Federal Reserve Bank of Boston’s Advisory Council, a Trustee of both Boston College High School and Trinity Catholic Schools and also serves on the Board of the Society of Independent Gasoline Marketers. He has written numerous articles on energy and public policy, regulation and market development, and is a frequent guest on MSNBC, CNBC, Fox Business News and Bloomberg radio. He has been a contributing editor to the Wall Street Journal and has testified before Congress and several regulatory agencies on energy and international trade issues.
Mr. Petrowski graduated cum laude from Harvard University.
About Brookwood Financial Partners, LLC – Brookwood is a nationally-recognized private equity investment firm that specializes in acquiring and managing value-add commercial real estate and related operating businesses on behalf of a select group of institutional investors, family offices and high net worth individuals. Since its founding in 1993, Brookwood has raised over $820 million of equity to acquire a portfolio of 220 commercial real estate and convenience store properties, with a realized and unrealized value in excess of $2.2 billion. The portfolio has spanned multiple asset classes, geographical markets and industries across the United States. www.brookwoodfinancial.com
About Yesway – BW Gas & Convenience, d/b/a Yesway, is headquartered in Des Moines, Iowa. Yesway plans to acquire, improve and rebrand 600-1,000 convenience stores in selected regions of the United States over the next several years. For more information on Yesway, please visit the company’s website at www.yesway.com.
