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Rail News: Logistics
OmniTRAX Logistics acquires Terracor Group assets
OmniTRAX Logistics Services LLC (OLS) has agreed to acquire all assets of Terracor Group, a frac sand logistics company with three transload facilities in Texas and Montana.
The transaction includes a "high-quality frac sand mining opportunity" in Wisconsin, OmniTRAX officials said in a press release.
The new facilities will serve energy customers in the Bakken, Eagle Ford and Permian basins and dramatically broaden OmniTRAX Logistics' reach in the frac sand supply chain, they said.
"We know the frac sand industry very well, so this acquisition is a terrific opportunity for us to expand the operations of OLS and increase the touchpoints we have with customers. There is also great potential to expand beyond sand into other commodities," said Kevin Shuba, chief executive officer of OLS parent company OmniTRAX Inc.
Terracor Group is part of Sanjel Corp., a Canadian company that filed for U.S. Chapter 15 bankruptcy protection earlier this year.
Financial terms of the agreement were not disclosed.
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