Quality Distribution agrees to sell Quality Carriers Business to CSX Corp.
Quality Distribution, a privately held global logistics and transportation provider in Tampa, has entered into a definitive agreement to sell its Quality Carriers business to CSX Corp. (NASDAQ: CSX).
Quality Carriers, which operates the largest liquid bulk chemical trucking network in North America, will become a standalone entity within CSX and remain headquartered in Tampa, a statement said.
“Transitioning Quality Carriers to CSX is a tremendous positive for all of our key stakeholders, including our drivers, employees, customers and investors,” said Gary Enzor, chairman and chief executive officer of Quality Distribution, in the statement. “It’s incredibly exciting to see the creation of the CSX/Quality Carriers combination, which has the potential to be a game-changer for our industry. This transaction gives CSX and Quality Carriers the unique opportunity to offer a powerful combination of truck and rail solutions to customers, with the added benefit of maintaining QC’s headquarters in Tampa.”
As a result of the transaction, Quality Distribution’s subsidiary Boasso Global will become a standalone entity and be based in Tampa.
Boasso Global is an international provider of intermodal tank container and depot services with operations in seven different countries and the largest such provider in North America.
More than 99 percent of the company’s existing workforce will remain in place, as all terminal and depot-based employees and most Tampa-based corporate office personnel will stay in their existing jobs and locations. Randy Strutz will continue in his role as president of Quality Carriers.
The Quality Distribution name will be phased out after the closing of the transaction.