Groendyke Announces Acquisition of Linden Bulk Transport
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Groendyke Transport on Aug. 19 announced a definitive agreement to acquire all the tank truck assets of Linden Bulk Transportation from Depot Connect International.
Groendyke said the deal will expand its footprint to Ohio, Pennsylvania and New Jersey and help solidify its presence in the Gulf Coast region. Both companies are tank truck carriers that specialize in hauling bulk hazardous materials, such as petroleum and chemicals.
The companies anticipate a closing date of Sept. 23.
“We are excited to bring the folks at Linden Bulk into the Groendyke family,” CEO Greg Hodgen said. “We can’t wait to show them a big welcome and add them to our very strong team.”
Upon completion of the deal, Groendyke will have terminals in 18 states. The addition of the Linden assets returns Groendyke to the Northeast United States for the first time since 2015.
Bengur Bryan & Co. served as the exclusive financial adviser to Groendyke. Scudder Law Firm served as legal adviser.
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