UPDATED:
10/11/2011 1:00:00 PM
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Tank truck carrier Quality Distribution last week announced that its subsidiary, Boasso America, will acquire Greensville Transport Co., a provider of intermodal tank container and depot services.
Greensville has access to ports in Virginia, Maryland and South Carolina, the company said.
The purchase price is $8.5 million and up to an additional $500,000 in cash, subject to Greensville meeting certain performance criteria, the company said.
Quality Distribution said it expects to close the transaction in the fourth quarter and expects the acquisition to be accretive to earnings and cash flow in 2012.
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