Quality Distribution acquires tank container company
Quality Distribution Inc., the Tampa-based operator of the largest dedicated bulk tank truck network in North America, said it has agreed to acquire ISO tank container company Boasso America Corp., in a deal worth about $60 million.
Chalmette, La.-based Boasso will continue to operate as a standalone division, said Gary Enzor, president and chief executive officer of Quality.
Boasso, with revenues in excess of $70 million in its fiscal year ending March 31, is about one-tenth the size of Quality, which had revenues of 730.2 million in 2006.
Boasso has facilities in Chalmette, La.; Houston; Charleston, S.C.; Chicago; Detroit; and Jacksonville, Fla.
Walter Boasso, chairman and CEO of Boasso, said the deal would “enhance our ability to provide the best possible service to our customers, give us the ability to more quickly expand our geographic coverage and provide long term opportunities for our employees.”
The transaction is expected to close in the fourth quarter.