Enterprise Transportation Buys Boncosky Services
Sep 7, 2001 12:00 PM, Charles E Wilson, Editor
Enterprise Transportation Company, Houston TX, announced that it has acquired Boncosky Services Inc, Lake in the Hills IL. Under the terms of the stock purchase agreement, Enterprise Transportation combined the two operations effective September 1, 2001.
“The purchase and consolidation of Boncosky Services will allow Enterprise Transportation to further strengthen our operating base and improve operating efficiencies,” said Mike Stark, president of Enterprise Transportation.
This purchase should make Enterprise one of the 10 largest tank truck carriers in the United States with revenues in excess of $140 million, according to Stark. Prior to the acquisition, Enterprise Transportation ranked 14 with annual revenues of $95.2 million on the Modern Bulk Transporter Annual Gross Revenue Report. Boncosky Services with $28.9 million in annual revenues was ranked 48.
Counting the most recent deal, Enterprise Transportation has made three sizable acquisitions over the past five years. The carrier purchased Younger Brothers in 1996 and Howell Transportation in 1999.
The purchase and consolidation boosts the Enterprise fleet to more than 825 tractors and drivers and over 1,250 tank trailers. Like Enterprise, Boncosky ran primarily International tractors. With the Boncosky additions, the Enterprise terminal network has grown to 27 locations.