09/10/2015
Citizens Bank provides new financing for Gilligan Oil Company
CINCINNATI – Citizens Bank announced today that it has provided new senior secured credit facilities to GOC Realco LLC, a subsidiary of Gilligan Oil Company, the owner/operator of approximately 40 convenience store, retail fuel and quick service restaurant locations in the Cincinnati and Columbus areas.
"We enjoyed working with Citizens’ Convenience and Retail Fuel Finance team on this transaction,” said Pat Gilligan, President of Gilligan Oil Company. “The Citizens deal team brought great ideas to the table and executed this financing seamlessly."
“We are very pleased to be able to help Gilligan Oil’s management team achieve their strategic and financial goals,” said Michael R. Phelps, National Director of Convenience and Retail Fuel Finance at Citizens.
Gilligan Oil was advised by Greg Burns of William Blair & Company.
Founded in 1993, Cincinnati-based Gilligan Oil is Southwest Ohio's largest distributor of Shell-branded gasoline and also sells fuel under the Sunoco and Exxon banners. Its quick service restaurants include Dunkin’ Donuts, Subway and Popeyes.
For more information on Citizens, please visit the Citizens Commercial Banking website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $137.3 billion in assets as of June 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid‐Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not‐for‐profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
