Groendyke Transport announces acquisition

US-based bulk liquid carrier, Groendyke Transport, is set to acquire all of McKenzie Tank Lines’ (MTL) tanker assets. The companies expect the deal to close 1 January 2019.

The acquisition will increase Groendyke’s terminal count from 30 to more than 40 and will increase the company’s driver count by about 200 to approximately 1,150, while significantly expanding its presence in the Southeast. The addition of MTL’s business is expected to increase Groendyke’s revenues by more than €35.1 million in 2019 to approximately €246.1 million.

“It has been our long-time goal to expand our operations in the Southeast,” said Groendyke President, Greg Hodgen. “Our two companies have so much in common – from history to culture and values to emphasis on safety – this deal made perfect sense. We believe their people will make a great fit with our culture and way of running our business. We are excited to have them as Groendyke Transport employees.”

Both companies are tanker carriers that specialise in hauling petroleum products, chemicals and other bulk hazardous materials.

Once the transition is complete, Groendyke will have terminals reaching as far west as Arizona all the way to the East Coast. It will give the company terminals in 15 states, adding Alabama, Florida, South Carolina and North Carolina.

“We have a vision to be the trucking company our customers and employees want to grow with,” said Hodgen. “Expanding to the Southeast helps us fulfill that vision and expand our ability to serve existing and new customers. And this acquisition helps us do so in a way that is consistent with our values, especially when it comes to integrity, respect for people and safety.”

Groendyke is the only seven-time winner (most recently in 2017, for 2016) of National Tank Truck Carriers North American Safety Champion Award, given each year to the carrier with the best overall safety record and program. MTL is also a trendsetter in the safety arena, as one of the first adopters of collision mitigation systems and blind-spot detection systems, and as a participant in a public-private partnership in the early 2000s designed to accelerate the development of such technology.

“Our two family-owned companies have long histories and rich traditions in the tank truck industry,” said MTL CEO, Jim Shaeffer. “Moreover, our companies share a tremendous commitment to our people that includes their safety and well-being. We believe this change will ensure stability for our employees and create tremendous opportunities for them.”

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