Patriot Transportation Holding, Jacksonville, Fla., announced that its subsidiary, Florida Rock & Tank Lines, has agreed to buy Infinger Transportation, a regional tank truck carrier based in Charleston, S.C.
Operated by the Infinger family since 1946, Infinger Transportation Company currently operates from terminals in Charleston and North Augusta, South Carolina, Charlotte and Wilmington, North Carolina, Savannah, Georgia, Jacksonville and Tampa, Florida. Included in the assets to be purchased are 109 trailers, 57 tractors and 6 other vehicles.
The acquisition is subject to usual closing conditions, including satisfactory completion of the buyer's due diligence investigation. The transaction is expected to close by the end of this month.
"This acquisition both expands and strengthens our existing tank truck carrier business,” said John Mabbett, President of Florida Rock & Tank Lines. “We will gain access to new markets in the Carolinas while some of our current terminals will benefit from the addition of new volumes and resulting operating efficiencies."
Patriot Transportation Holding is engaged in the transportation and real estate businesses. The company's transportation business is conducted through two wholly owned subsidiaries. Florida Rock & Tank Lines, Inc. is a Southeastern transportation company concentrating in the hauling by motor carrier of liquid and dry bulk commodities. SunBelt Transport serves the flatbed portion of the trucking industry in the Southeast, Midwest and Mid-Atlantic States, hauling primarily construction materials.
Operated by the Infinger family since 1946, Infinger Transportation Company currently operates from terminals in Charleston and North Augusta, South Carolina, Charlotte and Wilmington, North Carolina, Savannah, Georgia, Jacksonville and Tampa, Florida. Included in the assets to be purchased are 109 trailers, 57 tractors and 6 other vehicles.
The acquisition is subject to usual closing conditions, including satisfactory completion of the buyer's due diligence investigation. The transaction is expected to close by the end of this month.
"This acquisition both expands and strengthens our existing tank truck carrier business,” said John Mabbett, President of Florida Rock & Tank Lines. “We will gain access to new markets in the Carolinas while some of our current terminals will benefit from the addition of new volumes and resulting operating efficiencies."
Patriot Transportation Holding is engaged in the transportation and real estate businesses. The company's transportation business is conducted through two wholly owned subsidiaries. Florida Rock & Tank Lines, Inc. is a Southeastern transportation company concentrating in the hauling by motor carrier of liquid and dry bulk commodities. SunBelt Transport serves the flatbed portion of the trucking industry in the Southeast, Midwest and Mid-Atlantic States, hauling primarily construction materials.
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