Groendyke Transport, Inc., a leader in bulk transportation solutions, announced today a definitive agreement to acquire the tank truck assets of Linden Bulk Transportation (LBT), a well-regarded company in the industry. This strategic acquisition from Depot Connect International is set to finalize on September 23, 2024, marking a significant expansion for Groendyke into key Northeast markets.
This acquisition is particularly noteworthy as it extends Groendyke’s operational reach into Ohio, Pennsylvania, and importantly, New Jersey, establishing a robust presence in the Northeast for the first time since 2015. Linden Bulk Transportation, based in New Jersey, brings with it a strong regional presence and expertise in bulk transport, making it a valuable addition to Groendyke’s expanding network.
“We are thrilled to welcome the team at Linden Bulk Transportation to the Groendyke family,” stated Groendyke CEO Greg Hodgen. “We are eager to integrate their expertise and dedication into our operations and demonstrate the welcoming culture at Groendyke.”
Founded in 1982, Linden Bulk Transportation operates from seven locations across six states and specializes in the transportation of petroleum products, chemicals, and other hazardous materials in bulk. This aligns seamlessly with Groendyke’s core competencies, further strengthening their position as a premier bulk hazardous materials carrier.
The acquisition of Linden Bulk Transportation comes on the heels of Groendyke’s recent achievement as a nine-time National Tank Truck Carriers North American Safety Champion. This award underscores Groendyke’s unwavering commitment to safety, a value that will undoubtedly be reinforced with the integration of LBT’s operations and personnel.
Following the completion of this transaction, Groendyke Transport will operate terminals in 18 states, significantly enhancing its service capabilities across the nation, including a strong foothold in the crucial Northeast corridor with Linden Bulk Transportation’s New Jersey operations.
Advisors involved in this transaction: Bengur Bryan & Co., Inc. served as the exclusive financial advisor to Groendyke, and Scudder Law Firm acted as their legal advisor. Depot Connect International received legal counsel from Simpson Thacher & Bartlett LLP and financial advice from Stifel.
About Groendyke Transport, Inc.: Groendyke Transport, Inc. is renowned for providing safe and superior transportation services, catering to leading companies that prioritize safety and performance. As a privately held, family-owned company, Groendyke is a nine-time NTTC North American Safety Champion, reflecting its dedication to safety and operational excellence. Currently, Groendyke operates from 40 locations across 15 states, providing services across 49 states, Canada, and Mexico.
Groendyke Transport Contact
Matt Palmer
[email protected]
580-213-9282
