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Boasso Global
View on Wikipedia | This article needs to be updated. The reason given is: Needs update on 2023 merger and rebranding. (December 2025) |
Boasso Global, is an American ISO tank services provider based in Tampa, Florida. In October 2022, Apax Partners sold Boasso Global to KKR.[1][2]
Key Information
History
[edit]Formerly known as MTL, Inc. the company was founded in 1984 and had its name changed to Quality Distribution, Inc. in 1999. By 2012 the company was managing a fleet of approximately 2,800 independently owned and operated tractors and 5,300 trailers, as well as affiliate and company owned terminals; it had about 850 employees and a market capitalization of about $250 million.[3]
Expansion
[edit]The company expanded through acquisition into a number of areas in 2012, including transporting oil and wastewater for energy companies. These acquisitions initially underperformed expectations, but a December 2013 article in Barron's noted that QD's core business of chemical transportation remained a market-share leader.[4] Earlier in 2013, Apollo Global Management planned to divest its 17% stake in the company with a public offering.[5]
As of August 28, 2015, Quality no longer trades on the NASDAQ under the symbol QLTY.[6]
Business structure
[edit]Intermodal is operated by Boasso America Corporation (“Boasso”) which includes ISO tank container transportation, depot services, tank cleaning, heating, testing, maintenance, and storage services.[6] Energy Logistics is operated by QC Energy Resources, Inc. and QC Environmental Services, Inc. (collectively “QCER”) provide logistics and transportation services of crude oil, fresh water and production fluids to unconventional oil and gas (“UCO&G”) markets.[6]
Acquisitions
[edit]As of 2022, Quality distribution had acquired the following subsidiaries:[7]
- American Transinsurance Group. Inc. (Delaware)
- ATG Reinsurance Ltd. (Turks & Caicos Island)
- Chemical Leaman Corporation (Pennsylvania)
- EnviroPower, Inc. (Delaware)
- Fleet Transport Company, Inc. (Delaware)
- Levy Transport Ltd. / Levy Transport, LTEE
- Mexico Investments, Inc. (Florida)
- MTL De Mexico S.A. de c.v. (Mexico)
- MTL Investments, Inc. (Canada)
- MTL of Nevada (Nevada)
- Power Purchasing, Inc. (Delaware)
- QD Capital Corporation (Delaware)
- QSI Services, Inc. (Delaware)
- Quala Systems, Inc. (Delaware)
- Quality Carriers, Inc. (Illinois)
- Quality Distribution, LLC (Delaware)
- Transplastics, Inc. (Delaware)
References
[edit]- ^ "PE firm Apax to sell Boasso Global to KKR". Bulk Transporter. October 28, 2022. Retrieved 2023-12-31.
- ^ Dorbian, Iris (October 6, 2022). "KKR to acquire ISO tank services provider Boasso Global from Apax". PE Hub. Retrieved 2023-12-31.
- ^ Quality Distribution Yahoo Finance profile
- ^ Steve Garmhousen (December 7, 2013). "Thinking Small". Barron's. Retrieved 2013-12-28.
- ^ Manning, Margie (August 7, 2013). "Apollo plans Quality Distribution exit". www.bizjournals.com. Retrieved 2023-01-26.
- ^ a b c "Quality Distribution, Inc". Business Week. Retrieved 2015-05-05.
- ^ "List of Subsidiaries of Quality Distribution, INC". www.sec.gov. Retrieved 2023-01-31.