Olympus Cobbles Together Another Acquisition

STAMFORD, Conn., Nov. 2, 2022 /PRNewswire/ -- Heniff Transportation Systems ("Heniff" or "the Company"), a portfolio company of Stamford, Connecticut-based private equity firm Olympus Partners, has acquired Coal City Cob, a provider of liquid bulk transportation services to the chemical and hazardous waste industries. Coal City Cob operates with over 230 drivers and 500 trailers within its network of terminals, including a significant rail-to-truck bulk transfer yard and tank wash facility at its headquarters in Waxahachie, Texas. The acquisition of Coal City Cob marks the fourth acquisition completed under Olympus' ownership since the recapitalization of Heniff in November of 2019.

"We're very pleased to welcome Coal City Cob into the Heniff family of companies," said Bob Heniff, Founder & Chief Executive Officer of Heniff Transportation Systems. "I have been friends and a competitor with the Cloonen family for many years and this combination now allows us to work together as partners. Given the complementary nature of the two operations, we believe strongly that this combination will create value for all our stakeholders and offer real service enhancements to our respective customers."

 "We are excited to have Coal City Cob join the broader platform, and we look forward to our continued partnership with Heniff as we further expand the Company's network and service offering," said David Cardenas, Partner at Olympus.

The Olympus team included David Cardenas, Griffin Barstis and George Swenson. Olympus was represented by Matt Goulding, Ankur Sharma and Kelsey Chetosky from Kirkland & Ellis.

Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries including business services, consumer products, healthcare services, financial services, industrial services, and manufacturing. Olympus manages in excess of $8.5 billion mainly on behalf of corporate pension funds, endowment funds and state-sponsored retirement programs.

Based in Oak Brook, Illinois, the Heniff family of companies is North America's premier leader in liquid bulk transportation services. Heniff operates approximately 2,000 tractors and 5,000 trailers through its network of over 100 locations with expertise in chemical transport, food-grade transport, rail transloading, ISO depot operations, equipment maintenance, tank cleaning services and logistics.

Based in Waxahachie, Texas, Coal City Cob Company, Inc. was founded in 1970 and provides liquid bulk transportation services to the chemical and hazardous waste industries through its network of nine terminals, including a centrally located 27-acre facility in Waxahachie integrating rail-to-truck transfer, fleet maintenance and tank wash capabilities.

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SOURCE Olympus Partners