Quality Distribution Buys Energy Logistics Firm
Tank truck carrier Quality Distribution said late Monday that it has purchased Trojan Vacuum Services, a transportation provider for the oil and gas industry in the Eagle Ford shale region in Texas.
Trojan primarily hauls flowback and production water for energy customers, Quality said.
Quality purchased Trojan for $8.7 million in cash, with an additional $1 million contingent on future performance criteria.
Quality CEO Gary Enzor said the acquisition is “an important step” in expanding the company's energy logistics business in the Eagle Ford shale.
In 2011, Trojan generated $13.5 million in revenue. Quality said it expects the acquisition to be accretive to its earnings beginning in the second quarter of 2012.
