Tampa liquid bulk logistics firms to merge

Boasso Global Inc. and Q Super Holdings Inc., parent company of Quala, have signed a definitive agreement that will see the Tampa-based companies merge their complementary businesses to create one of the leading infrastructure services entities for the liquid bulk logistics industry. The sector involves the shipping of bulk liquids and foodstuffs, ranging from whiskey, beer, wine and cooking oils to water treatment products and automotive lubricants.

According to a news release, the transaction is supported by a new investment from Boasso’s majority shareholder, KKR, via its KKR Global Infrastructure Investors IV fund. Under the terms of the agreement, KKR will inject further capital into Boasso to facilitate the merger with Quala via a purchase of shares from Advent International and invest in the strategic combination of the two businesses.

Quala, the release states, specializes in liquid bulk container cleaning and maintenance services, including tank trailer, ISO tank container, railcar and IBC cleaning, while Boasso is a leading provider of mission‐critical infrastructure services for the ISO tank container industry in North America and Europe. As a result of the merger, the companies will combine their complementary geographical footprints and service offerings across the liquid bulk logistics industry in North America and Europe.

For Boasso, the merger brings in-house cleaning capabilities that the company has largely outsourced up to now.

“The combination of Boasso and Quala makes perfect strategic sense,” Boasso CEO Joe Troy states in the release. “This transaction will enhance our ability to deliver safe, compliant and best‐in‐class services to our ISO tank container customers and meaningfully expand our access to more locations across North America. This is a rare opportunity to put together two Tampa‐based, complementary businesses … with a focus on enhanced efficiency and growing our range of premium solutions for the liquid bulk logistics industry.”

The proposed merger, the release states, will now go through regulatory approvals but it is expected to close in the first half of 2023.

“This combination with Boasso and new investment from KKR will allow us to advance our position as a leading provider of container cleaning and maintenance services while continuing to seamlessly meet our customers’ needs,” Quala CEO Scott Harrison states in the release. “Together, Quala and Boasso will benefit from greater connectivity to our customers, an expanded global footprint and new opportunities for our team members as part of a larger combined organization.”