PSC Group Announces Acquisition of Delta Petroleum Co.
2024年8月2日 - 6:51AM
ビジネスワイヤ(英語)
PSC Group (“PSC”), a provider of on-site logistics and repair
services to critical petrochemical companies, today announced the
acquisition of Delta Petroleum Company (“Delta,” or “the Company”).
PSC is a portfolio company of TJC LP (“TJC”), a middle market
private equity firm investing primarily in North American
businesses. Upon completion of the transaction, Delta will be owned
by PSC, and will cease to be a subsidiary of Greif, Inc., a world
leader in industrial packaging products and services.
“We see PSC and Delta as being optimal partners for synergistic
growth,” said Joel Dickerson, CEO of PSC Group. “Our companies are
aligned in culture, and we are well positioned to maintain service
excellence, elevate growth and scale for Delta, and expand services
to meet the needs of our shared customer set. We are excited to
welcome Delta and all its employees into the PSC family.”
Operating since 1946, Delta provides outsourced specialty
chemical filling, warehousing and shipping services. Delta’s
operations are strategically located near major ports and the
chemical manufacturing markets of Houston, TX, Baton Rouge, LA, and
Cincinnati, OH.
“The trajectory PSC has taken in recent years and its expansion
into highly relevant subsectors of the petrochemical industry
positions our partnership to be a success not only for our combined
entity, but also for the clients that depend on our services and
sustainability initiatives,” said Frank Ingrassia, Delta General
Manager. “Our combined track records, customer bases and our
opportunity to collectively address a broader market makes us
differentiated and distinct among our peers.”
PSC Group is a leading provider of embedded on-site logistics,
railcar repair and sustainability services to critical
petrochemical infrastructure firms in North America. PSC Group was
founded in 1952 and is based in Houston, Texas, with more than
5,000 employees.
In April 2024, TJC and Aurora Capital Partners recapitalized
PSC. In 2022, PSC Group acquired Thermoplastics Services Inc., a
compounding and pelletizing business; in 2023 PSC acquired the
assets of Steel Line Rail Services LLC to expand mobile railcar
repair, inspection and valve repair services. Delta marks the
eighth acquisition completed by PSC Group and its first since
partnering with TJC.
About TJC
TJC LP, formerly known as The Jordan Company, has worked for
more than 40 years with CEOs, founders and entrepreneurs across a
range of industries including Consumer & Healthcare,
Diversified Industrials, Industrial Technology, Logistics &
Supply Chain and Technology & Infrastructure. With $29.7
billion of assets under management as of March 31, 2024, TJC is
managed by a senior leadership team that has invested together for
over 22 years on over 80 investments. TJC has offices in New York,
Chicago, Miami and Stamford. For more information, please visit
www.tjclp.com.
About PSC Group
For 72 years, PSC has been committed to safely and efficiently
meeting the logistics needs of leading companies in the refining,
chemical, marine, and rail industries. The company’s 5,000+
employees serve at more than 170 chemical plants, refineries, and
terminals across the U.S. and Canada, providing expertise in
product logistics, railcar switching and repair, packaging and
warehousing, tank farm operations, mobile railcar repair and
tankerman services. PSC also offers an array of sustainability
services to support plastics producers with Operation Clean Sweep
compliance and recycling initiatives.
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version on businesswire.com: https://www.businesswire.com/news/home/20240801570640/en/
Jonathan Marino Prosek Partners jmarino@prosek.com