Texas company acquires Delaware Express Co.
EDGEMOOR – A Texas-based chemical industry supply chain services company has acquired Delaware Express Co., a dry and liquid bulk transporter.
Headquartered in neighboring Elkton, Md., Delaware Express Co. operates a truck terminal in Edgemoor at the Norfolk Southern yard. The 86-year-old regional company has been owned and operated by three generations of the Winther family.
Aside from its Delaware and Maryland locations, Delaware Express operates terminals in New Jersey, New York and Massachusetts as well.
After many years of independent ownership, the company is being acquired by Quantix SCS, which is a portfolio company of the billion-dollar private equity firm Wind Point Partners that focuses on the transportation and logistics industry.
“We are very happy to welcome the Delaware team to Quantix, and we congratulate them on the strong business they have built through many decades of hard work and dedication,” Chris Ball, president and CEO of Quantix, said in a statement. “The company’s focus on superior service and strong company culture perfectly align with the Quantix approach, and we look forward to fostering this culture in our combined future.”
Robert Winther, the current president of Delaware Express, said his company was “confident this is the right move for the next chapter of our business.”
“Becoming a part of the Quantix family was a natural fit for our company for many reasons, most notably because of their commitment to customer service excellence,” he added in a statement.
Delaware Express is the seventh acquisition for Quantix since it was bought by Wind Point two years ago. Its closest location beforehand was in Philadelphia and its expansion strategy focuses on dry and liquid bulk transportation, warehousing, and logistics services to producers and distributors of chemicals and plastics.
“Bolstering our dry and liquid capabilities via strategic acquisitions is a key pillar within the Quantix value creation plan and Delaware’s expertise in both service lines is a highly valuable addition to the combined platform. The Delaware network fills a void in the Quantix footprint in the Mid-Atlantic region and we look forward to continuing to deliver world-class service levels to our regional customers across their entire supply chain,” added Konrad Salaber, managing director at Wind Point, in a statement.
Faegre Drinker Biddle & Reath LLP served as legal counsel on the deal and RedRidge provided transaction advisory services to Quantix.