Delivering
excellence™
Delivering
excellence™
ENID, Okla. (Aug. 19, 2024) — Today Groendyke Transport, Inc. announced a definitive agreement to acquire all the tank truck assets of Linden Bulk Transportation (LBT) from Depot Connect International, a leading provider in the tank container services industry. The companies anticipate a closing date of September 23, 2024.
The acquisition will expand Groendyke’s footprint to Ohio, Pennsylvania, and New Jersey, and solidify its strong presence in the Gulf.
“We are excited to bring the folks at Linden Bulk into the Groendyke family,” said Groendyke CEO Greg Hodgen. “We can’t wait to show them a big welcome and add them to our very strong team.”
Founded in 1982, LBT has seven locations in six states. Both companies are tank truck carriers that specialize in hauling petroleum products, chemicals, and other bulk hazardous materials.
Once the transaction closes, Groendyke will have terminals in 18 states, including its first presence in the Northeast since 2015.
Groendyke adds LBT a few months after winning its record ninth National Tank Truck Carriers North American Safety Champion Award, given each year to the carrier with the best overall safety record and program.
Advisors:
Bengur Bryan & Co., Inc. served as the exclusive financial advisor to Groendyke.
Scudder Law Firm served as legal advisor to Groendyke.
Depot Connect International was advised by Simpson Thacher & Bartlett LLP as legal counsel and Stifel as financial advisor.
About Groendyke Transport, Inc.:
Groendyke Transport, Inc. provides safe, superior transport solutions that deliver excellence to leading companies that place a premium on safety and performance. Groendyke Transport is a privately held, family-owned company and a nine-time NTTC North American Safety Champion for the best overall safety record and program in North America. Groendyke currently has 40 locations in 15 states and services 49 states, Canada and Mexico.
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