Mergers & Acquisitions
May 12, 2021
Quality Carriers Sells to CSX
Tampa chemical trucking company sold to CSX in ‘game-changer’ shipping deal
Quality Carriers, which moves bulk chemicals across North America, will vastly expand the rail company’s shipping network.
By Jay CridlinPublished 3 hours agoUpdated 34 minutes ago
A Tampa chemical trucking company is being sold to railroad giant CSX Corp. in a deal expected to create a sprawling rails-to-roadways chemical distribution network across North America.
Quality Distribution, a privately held logistics and transportation company headquartered in downtown Tampa, is spinning off and selling its Quality Carriers arm, which operates North America’s largest shipping network for bulk liquid chemicals like fuels, acids and fertilizers.
Quality Carriers, whose fleet includes 2,500 drivers moving between more than 100 hubs and terminals throughout North America, will remain based in Tampa.
Terms of the sale were not disclosed. The deal is expected to close in late summer or early fall.
In statements released Wednesday, executives from both companies highlighted the scope and potential impact of the deal. The companies’ “unique and seamless rail-to-highway offering,” said Quality Controls president Randy Strutz, would be the “first of its kind,” said CSX president and CEO James Foote.
In a statement, Quality Distribution chairman and CEO Gary Enzor called the deal “a game-changer for our industry.”
“This transaction gives CSX and Quality Carriers the unique opportunity to offer a powerful combination of truck and rail solutions to customers, with the added benefit of maintaining QC’s headquarters in Tampa,” Enzor said.Related: $2 billion packaging company relocating HQ to Tampa, bringing 200 jobs
In a brief video addressed to Quality Carriers drivers, Strutz said the deal would lead to “more opportunities and more choices” for truckers who prefer both local and long-haul jobs.
As part of the deal, Quality Distribution will spin another subsidiary, Boasso Global, into its own standalone company, and cease using the Quality Distribution brand name. Boasso provides shipping services for bulk shipping containers through a network of hubs in North America and Europe. It will continue to be based in Tampa.
Company officials said 99 percent of Quality Distribution’s workforce will remain in place, with most changes taking place at the corporate management level. Enzor will step down as Quality Distribution’s chariman and CEO, but will remain on Boasso’s board of directors. Joe Troy, Boasso’s executive vice president and chief financial officer, will step up and become CEO.Related: Clearwater’s MarineMax buys Wisconsin yacht builder for $63 million
Founded in 1913 in Pennsylvania, Quality Distribution has been based in the Tampa Bay area for decades. In 2015, the company was sold for $800 million to private equity firm Apex Partners. The previous year, the company had reported $991.7 million in revenue and $20.6 million in net income.
Based in Jacksonville, CSX last year reported nearly $10.6 billion in revenue, including $2.3 billion from its chemical transportation business, the most of any sector. The company’s intermodal business, linking trains and trucks, represented around 16 percent of its overall revenue.
May 12, 2021
Quality Carriers Sells to CSX
Tampa chemical trucking company sold to CSX in ‘game-changer’ shipping deal
Quality Carriers, which moves bulk chemicals across North America, will vastly expand the rail company’s shipping network.
By Jay CridlinPublished 3 hours agoUpdated 34 minutes ago
A Tampa chemical trucking company is being sold to railroad giant CSX Corp. in a deal expected to create a sprawling rails-to-roadways chemical distribution network across North America.
Quality Distribution, a privately held logistics and transportation company headquartered in downtown Tampa, is spinning off and selling its Quality Carriers arm, which operates North America’s largest shipping network for bulk liquid chemicals like fuels, acids and fertilizers.
Quality Carriers, whose fleet includes 2,500 drivers moving between more than 100 hubs and terminals throughout North America, will remain based in Tampa.
Terms of the sale were not disclosed. The deal is expected to close in late summer or early fall.
In statements released Wednesday, executives from both companies highlighted the scope and potential impact of the deal. The companies’ “unique and seamless rail-to-highway offering,” said Quality Controls president Randy Strutz, would be the “first of its kind,” said CSX president and CEO James Foote.
In a statement, Quality Distribution chairman and CEO Gary Enzor called the deal “a game-changer for our industry.”
“This transaction gives CSX and Quality Carriers the unique opportunity to offer a powerful combination of truck and rail solutions to customers, with the added benefit of maintaining QC’s headquarters in Tampa,” Enzor said.Related: $2 billion packaging company relocating HQ to Tampa, bringing 200 jobs
In a brief video addressed to Quality Carriers drivers, Strutz said the deal would lead to “more opportunities and more choices” for truckers who prefer both local and long-haul jobs.
As part of the deal, Quality Distribution will spin another subsidiary, Boasso Global, into its own standalone company, and cease using the Quality Distribution brand name. Boasso provides shipping services for bulk shipping containers through a network of hubs in North America and Europe. It will continue to be based in Tampa.
Company officials said 99 percent of Quality Distribution’s workforce will remain in place, with most changes taking place at the corporate management level. Enzor will step down as Quality Distribution’s chariman and CEO, but will remain on Boasso’s board of directors. Joe Troy, Boasso’s executive vice president and chief financial officer, will step up and become CEO.Related: Clearwater’s MarineMax buys Wisconsin yacht builder for $63 million
Founded in 1913 in Pennsylvania, Quality Distribution has been based in the Tampa Bay area for decades. In 2015, the company was sold for $800 million to private equity firm Apex Partners. The previous year, the company had reported $991.7 million in revenue and $20.6 million in net income.
Based in Jacksonville, CSX last year reported nearly $10.6 billion in revenue, including $2.3 billion from its chemical transportation business, the most of any sector. The company’s intermodal business, linking trains and trucks, represented around 16 percent of its overall revenue.
May 4, 2021
Aresenal Makes Another Acquisition
Arsenal’s Meridian Adhesives Acquires Frontier Products DALTON, Georgia, May 4, 2021 – Meridian Adhesives Group (Meridian) announced today the acquisition of Frontier Products Inc. (Frontier).
Located in Alvarado, Texas, Frontier is a manufacturer of high-performance flooring solutions, including urethane, acrylic pressure sensitive and hybrid adhesives; moisture barriers; sound control; and construction products. With more than 40 years of experience in the flooring industry, Frontier offers custom formulations for its private label customers throughout North America.
“The addition of Frontier to our Flooring Division brings new processes and technologies to our platform,” said Daniel Pelton, CEO of Meridian Adhesives Group. “This will benefit our customers and partners by opening up additional product offerings and technical support, further positioning us as the go-to solution providers in the adhesives market.”
As part of Meridian’s Flooring Division, Frontier will work alongside Taylor Adhesives, a leading name in the flooring adhesives market for its resilient, wood and carpet flooring adhesives and the company’s moisture mitigation coatings and specialty products; as well as Polycom Solutions, a manufacturer specializing in custom product assembly solutions.
“I’m especially excited to be bringing Frontier into the Meridian Flooring Division to work alongside Taylor and Polycom,” said Paul Murfin, President of Taylor and Meridian’s Flooring Division. “Frontier helps expand our product and brand portfolio and further increases our leadership position in the flooring adhesives space.”
Together, the three companies will serve the flooring industry with advanced flooring, construction and product assembly solutions.
“Joining Meridian Adhesives Group is a strategic move that will meet the goals of our company,” said Carl Nichols, President of Frontier. “Having the backing of Meridian and Taylor – technologically, operationally and financially – will allow us to better serve our customers and continue the upward momentum of our business.”
For more information regarding Frontier Products Inc., visit https://frontierproductsinc.com.
May 4, 2021
Aresenal Makes Another Acquisition
Arsenal’s Meridian Adhesives Acquires Frontier Products DALTON, Georgia, May 4, 2021 – Meridian Adhesives Group (Meridian) announced today the acquisition of Frontier Products Inc. (Frontier).
Located in Alvarado, Texas, Frontier is a manufacturer of high-performance flooring solutions, including urethane, acrylic pressure sensitive and hybrid adhesives; moisture barriers; sound control; and construction products. With more than 40 years of experience in the flooring industry, Frontier offers custom formulations for its private label customers throughout North America.
“The addition of Frontier to our Flooring Division brings new processes and technologies to our platform,” said Daniel Pelton, CEO of Meridian Adhesives Group. “This will benefit our customers and partners by opening up additional product offerings and technical support, further positioning us as the go-to solution providers in the adhesives market.”
As part of Meridian’s Flooring Division, Frontier will work alongside Taylor Adhesives, a leading name in the flooring adhesives market for its resilient, wood and carpet flooring adhesives and the company’s moisture mitigation coatings and specialty products; as well as Polycom Solutions, a manufacturer specializing in custom product assembly solutions.
“I’m especially excited to be bringing Frontier into the Meridian Flooring Division to work alongside Taylor and Polycom,” said Paul Murfin, President of Taylor and Meridian’s Flooring Division. “Frontier helps expand our product and brand portfolio and further increases our leadership position in the flooring adhesives space.”
Together, the three companies will serve the flooring industry with advanced flooring, construction and product assembly solutions.
“Joining Meridian Adhesives Group is a strategic move that will meet the goals of our company,” said Carl Nichols, President of Frontier. “Having the backing of Meridian and Taylor – technologically, operationally and financially – will allow us to better serve our customers and continue the upward momentum of our business.”
For more information regarding Frontier Products Inc., visit https://frontierproductsinc.com.
April 9, 2021
Plixxent Acquisition
Plixxent: Acquisition of British PU systems producer MRi Polytech
On 29 March 2021, Plixxent Holding GmbH announced the acquisition of MRi Polytech, a British producer of polyurethane systems focusing on outdoor systems as well as specialist CASE applications. Financial details of the transaction were not disclosed.
Plixxent is a leading independent polyurethane systems house with a focus on tailor-made systems and operates four production sites in Germany, the Netherlands, Denmark and Spain as well as nine further sales locations in Europe. Its polyurethane systems are used across a variety of industries including construction, energy, insulation, footwear, appliances, furniture and automotive. The company is majority-owned by H.I.G. Capital, a global private equity firm with more than EUR 34 billion capital under management.
According to Plixxent, with the acquisition of MRi Polytech the company extends its European footprint to the UK and strengthens and expands its product offering in the CASE segment with flooring products and adhesives for food packaging. Plixxent said this is a first step to significantly grow its presence in the region with both existing and new customers, and support the growth of MRi Polytech’s products in continental Europe. MRi’s activities will continue to operate under their established trading names and the business and employees will benefit from the integration into the Plixxent network.
Vincent Snell, founder and owner of MRi Polytech, said: “MRi is a success story which has consistently delivered growth and profitability. More than two decades after I have founded this company, it is now time to open a new chapter. The integration into Plixxent allows us to reap further potential by being part of a truly pan-European platform. I am very proud of what the management team has achieved so far, and Plixxent is a perfect fit for MRi.”
Dr. Jörg Schottek, CEO of Plixxent, commented: “MRi’s development in the past years has been impressive. With their broad expertise in complex polyurethane solutions and their in-depth market understanding, MRi has built a strong and sustainable market position. We are delighted that MRi Polytech is now part of Plixxent and look forward to continuing our growth trajectory together. This acquisition significantly strengthens Plixxent’s position as leading independent supplier of polyurethane-based solutions in Europe.”
www.plixxent.com
www.mri-polytech.com
Plixxent consists of the former Covestro system house network in Europe: https://everchem.com/covestro-closes-divestiture/
Everchem Updates Archive 
Sign Up for Email Updates