KKR to acquire ISO tank services provider Boasso Global from Apax

Apax acquired Boasso in 2015 as part of their purchase of Quality Distribution, Inc., a global logistics and transportation provider.

  • Apax Partners and Boasso were advised by Kirkland & Ellis, LLP as legal counsel and by lead financial advisor Harris Williams, with J.P. Morgan Securities providing financial advice
  • KKR was advised by Simpson Thacher & Bartlett, LLP as legal counsel and Jefferies LLC as financial advisor
  • KKR’s infrastructure team oversees approximately $49 billion in assets as of June 30, 2022

KKR has agreed to acquire Apax Partners‘ majority stake in Tampa, Florida-based Boasso Global Inc, a provider of depot, maintenance, cleaning, and transportation services for the ISO tank container industry in North America and Europe. No financial terms were disclosed.

Boasso provides mission-critical logistics services to the global chemical and food grade supply chains through a network of 34 strategically located depots across North America and Western Europe.

Apax acquired Boasso in 2015 as part of their purchase of Quality Distribution, Inc., a global logistics and transportation provider. In 2021, Quality Distribution sold its Quality Carriers bulk liquid chemical transportation business to CSX Corporation. As a result of that transaction, Boasso became a standalone entity.

“Boasso utilizes its network of assets to provide essential services to operators of ISO tanks, facilitating the efficient and safe flow of chemical and food grade products that are critical to the global economy,” said Dash Lane, a partner on KKR’s infrastructure team, in a statement. “We are very excited to begin working with Joe and the rest of the Boasso team. Our patient, long-term oriented capital is well positioned to support Boasso’s network of facilities, its employees and its customers in their next phase of growth.”

Apax Partners and Boasso were advised by Kirkland & Ellis, LLP as legal counsel and by lead financial advisor Harris Williams; J.P. Morgan Securities, LLC also provided financial advice. KKR was advised by Simpson Thacher & Bartlett, LLP as legal counsel and Jefferies LLC as financial advisor.

KKR’s infrastructure team oversees approximately $49 billion in assets as of June 30, 2022 and has made over 65 investments across a range of sub-sectors and geographies.

Apax has raised and advised funds with aggregate commitments of more than $60 billion.