TerraVest Industries Inc. recently acquired tank trailer manufacturer LBT in a “strategic” deal meant to align with the recent purchase of EnTrans International.
LBT was acquired for an enterprise value of approximately $16 million, including the assumption of certain liabilities, and subject to customary closing adjustments, according to the TerraVest news release.
Headquartered in Omaha, Nebraska, LBT is regularly among the annual Plant Safety Award winners named by the Truck Trailer Manufacturers Association. Known for building the “Toughest Tank in the Industry,” LBT has a loyal brand following and a long-standing reputation for quality and innovative trailer designs, TerraVest noted.
“I would like to wish TerraVest continued success as they grow in the bulk tank trailer industry,” Tony Roberts, owner of L.B.T. Inc., said. “I very much look forward to watching them extend and grow the legacy of LBT in Omaha and in the aluminum bulk tank trailer industry for many years to come.”
See also: TerraVest acquires Heil, Polar Tank parent
In a statement, TerraVest CEO Dustin Haw welcomed the employees and management of LBT and looks forward to their continuing commitment to the Company and dedication to their customers.
“I am excited to welcome the LBT team into the TerraVest family. LBT is a well-recognized tank trailer manufacturer, and we see this as a strategic fit as we look to grow our group of tank trailer businesses,” Haw said.
LBT is “highly complementary” with both EnTrans and Advance Engineered Products, Haw added.
Ryan Rockafellow, CEO of EnTrans, agreed.
“LBT is a great strategic fit for TerraVest and EnTrans, strengthening our position in the industry,” Rockafellow said. “This combination will provide the newly integrated entity with unmatched capacity, innovation, and efficiency to serve the evolving needs of the North American tanker market. Together, we are poised to deliver greater value to our customers, enhance operational capabilities, and drive long-term growth.”