Boasso Global
{{Short description|US based trucking and transport company}}
{{Infobox company
| name = Boasso Global
| logo =
| type = Private
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| defunct =
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| area_served = United States
| key_people = {{ubl|Chris Synek (CEO)}}
| industry = Transportation and Logistics
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| services =
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| owner =
| num_employees = 3,500
| parent =
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| homepage = {{URL|www.BoassoGlobal.com}}
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| location =
| foundation = Tampa, FL
| location_country =
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}}
Boasso Global, is a Tampa, Florida-based ISO tank services provider. In October 2022, Apax Partners sold Boasso Global to KKR.{{Cite web |date=2022-10-28 |title=PE firm Apax to sell Boasso Global to KKR |url=https://www.bulktransporter.com/fleet-management/article/21253648/private-equity-firm-apax-to-sell-boasso-global-to-kkr |access-date=2023-12-31 |website=Bulk Transporter}}{{Cite web |last=Dorbian |first=Iris |date=2022-10-06 |title=KKR to acquire ISO tank services provider Boasso Global from Apax |url=https://www.pehub.com/kkr-to-acquire-iso-tank-services-provider-boasso-global-from-apax/ |access-date=2023-12-31 |website=PE Hub |language=en-US}}
History
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.[https://finance.yahoo.com/q/pr?s=QLTY Quality Distribution] Yahoo Finance profile
Expansion
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.{{cite web |url=http://online.barrons.com/article/SB50001424053111904642604579224051907886112.html#articleTabs_article%3D1 |title=Thinking Small |work=Barron's |author=Steve Garmhousen |date=December 7, 2013 |access-date=December 28, 2013}} Earlier in 2013, Apollo Global Management planned to divest its 17% stake in the company with a public offering.{{Cite web |last=Manning |first=Margie |date=2013-08-07 |title=Apollo plans Quality Distribution exit |url=https://www.bizjournals.com/tampabay/news/2013/08/07/apollo-plans-quality-distribution-exit.html |access-date=2023-01-26 |website=www.bizjournals.com}}
As of August 28, 2015, Quality no longer trades on the NASDAQ under the symbol QLTY.{{cite web |url=https://www.bloomberg.com/research/stocks/snapshot/snapshot.asp?ticker=QLTY |title=Quality Distribution, Inc |work=Business Week |access-date=May 5, 2015}}
Business structure
Intermodal is operated by Boasso America Corporation (“Boasso”) which includes ISO tank container transportation, depot services, tank cleaning, heating, testing, maintenance, and storage services. 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.
Acquisitions
As of 2022, Quality distribution had acquired the following subsidiaries:{{Cite web |title=List of Subsidiaries of Quality Distribution, INC. |url=https://www.sec.gov/Archives/edgar/data/922863/000119312503058225/dex211.htm |access-date=2023-01-31 |website=www.sec.gov}}
- 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
{{Reflist}}
External links
- [http://www.boassoglobal.com Boasso Global Website]
Category:Companies based in Tampa, Florida