Groendyke Transport to Acquire Tank Truck Assets of MTL

The acquisition will increase Groendyke’s terminal count from 30 to more than 40 and will increase the company’s driver count by about 200 to approximately 1,150, while significantly expanding its presence in the Southeast. The addition of MTL’s business is expected to increase Groendyke’s revenues by more than $40 million in 2019 to approximately $280 million.

“It has been our long-time goal to expand our operations in the Southeast,” said Greg Hodgen, Groendyke president. “Our two companies have so much in common – from history to culture and values to emphasis on safety– this deal made perfect sense. We believe their people will make a great fit with our culture and way of running our business. We are excited to have them as Groendyke Transport employees.”

Both companies are tank truck carriers that specialize in hauling petroleum products, chemicals and other bulk hazardous materials.

Once the transition is complete, Groendyke will have terminals reaching as far west as Arizona all the way to the East Coast. It will give the company terminals in 15 states, adding Alabama, Florida, South Carolina and North Carolina.

Groendyke reports that is the only seven-time winner (most recently in 2017, for 2016) of National Tank Truck Carriers North American Safety Champion Award, given each year to the carrier with the best overall safety record and program. MTL is also a trendsetter in the safety arena, as one of the first adopters of collision mitigation systems and blind-spot detection systems, and as a participant in a public-private partnership in the early 2000s designed to accelerate the development of such technology.