United Petroleum acquires Florida Rock & Tank Line
The deal will create one of the top ten bulk tank carriers in the US with more than 1,000 professional drivers and 30 terminals.
Oklahoma based United Petroleum Transports (UPT) announced it has entered into an agreement to acquire Patriot Transportation Holding.
Patriot is a premier bulk tank carrier headquartered in Jacksonville, Florida, and specialized in hauling primarily petroleum-related products and other liquid and dry bulk commodities. The company conducts business through its wholly owned subsidiary, Florida Rock & Tank Lines.
This acquisition marks a significant milestone for UPT, furthering its and Florida Rock’s shared mission to become a top five bulk tank carrier by revenue.
“The acquisition unites prominent brands in the industry and extends the footprint of UPT. We are excited about what we can offer our current and future customers by utilizing both brands from Arizona to Florida,” said Matt Herndon, President and CEO of UPT.
The combination of these companies will create a top ten bulk tank carrier by revenue, with operations stretching from Arizona to Florida. In total, it will feature over 1,000 professional drivers and 30 terminals.
The joining of both companies will also result in enhanced services for current and new customers while continuing UPT’s motto, “Seamless delivery…every time.” The transaction is expected to be finalized in early 2024.
