Linden Bulk Transportation may finally have found its forever home.
After spending the last eight years as part of Odyssey Logistics & Technology, Boasso Global, and Quala—which last year merged with Boasso to form Depot Connect International (DCI)—the Linden, New Jersey-based tank truck carrier is poised to join Groendyke Transport through a new agreement with DCI.
Terms of the acquisition, expected to close Sept. 23, were not disclosed.
“We think it’s a good fit,” Groendyke CEO Greg Hodgen told Bulk Transporter.
“I certainly hope that’s how the people coming aboard feel. They’re finally going to be with a trucking company after going through several acquisitions, so we’re excited. We think we can give them a good home. It’s two venerable companies that have been around a while, and their operation matches well with what we do.”
Linden, founded in 1981, was family owned until Odyssey acquired it in 2016. Odyssey sold the chemical hauler to ISO tank specialist Boasso in April 2023, only two months after Boasso and tank cleaning and maintenance provider Quala revealed their plans to combine operations under private-equity group KKR. Boasso and Quala—which bought PSC in 2022—officially merged as DCI in October 2023.
Groendyke’s acquisition does not include Linden’s 21-acre tank container depot, which is the largest depot in New Jersey, with 2,500 containers on the property late last year. The deal does include all of Linden’s tank truck assets—about 250 tractors and 550 tank trailers as of October 2023—and truck terminals in Linden; Bensalem, Pennsylvania; Pasadena, Texas; St. Gabriel, Louisiana; and Cincinnati, Ohio.
Linden also runs trucks in Granite City, Illinois, where Groendyke has a terminal.
“We gain a lot of experienced people,” Hodgen said. “That’s one of the attractions any time we do a deal like this; and it hits a sweet spot for us in the Gulf Coast, where we already have a heavy presence. So we think it’s a good fit. It also expands our customer base, even in areas where we already have facilities, and gives us a greater foothold in the Northeast and Upper Midwest we can use to expand our network.”
Hodgen credited his relationships with Terry O’Brien, DCI’s chief development officer who previously served as Quala president, and Michael Salz, the president of Linden Bulk whose family founded the company, for helping advance the deal after six months of negotiations with legal and financial advisors. “Michael and I worked together on National Tank Truck Carriers committees, and attended customer events together over the years, so I’ve known him a long time and have a lot of respect for him,” Hodgen said.
When the acquisition closes, Linden will fold into Groendyke, giving the Enid, Oklahoma-headquartered bulk hauler locations in 18 states.
“We are excited to bring the folks at Linden Bulk into the Groendyke family,” Hodgen said in a news release.
“We can’t wait to show them a big welcome and add them to our very strong team.”
