Quality Distribution, Inc. Becomes Boasso Global
Boasso Global, Inc. (formerly Quality Distribution, Inc.), a privately held global ISO tank container services and logistics provider, today announced that it had completed its rebranding from Quality Distribution, Inc. and closed on the previously announced sale of its Quality Carriers bulk liquid chemical truck transportation business to CSX Corp. Financial terms of the transaction were not disclosed.
"We are tremendously excited about the future of Boasso Global and our ability to focus all of our efforts on continuing to expand our global footprint to better provide our customers with the market-leading services they have come to expect from Boasso Global," said Joe Troy, Chief Executive Officer of Boasso Global. "At the same time we wish continued success to our friends at Quality Carriers as they transition to CSX."
Funds advised by Apax Partners, which acquired the then-Quality Distribution in 2015, continue as the predominant shareholder of Boasso Global. "We are extremely excited for the future of Boasso Global as a standalone entity that carries with it an established record of excellence," said Ashish Karandikar of Apax Partners. "We believe the experienced team we have in place is well positioned to drive this business to even greater heights of success."
Quality Distribution and Apax Partners were advised by Kirkland & Ellis, LLP as legal counsel and J.P. Morgan Securities, LLC as lead financial advisor, while Morgan Stanley & Co. LLC also provided financial advice.
About Boasso Global
Headquartered in Tampa, Florida, Boasso Global is a leading international provider of depot and transportation services to a fast-growing, global ISO Tank Container industry. Boasso offers a multitude of mission-critical services through a network of international depots, including 15 in North America, 8 in the United Kingdom, and 6 in Continental Europe. Boasso is an American Chemistry Council "Partner Member." For more information, visit www.boassoglobal.com.
About Apax Partners
Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Healthcare, Tech, Services and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com. Apax is authorized and regulated by the Financial Conduct Authority in the UK.
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