PE-backed Boasso and Quala merge to form infrastructure services firm

• The transaction is expected to close in the first half of 2023
• According to terms of the deal, KKR will inject further growth capital into Boasso to facilitate the merger with Quala via a purchase of shares from Advent International
• Both Boasso and Quala are based in Tampa, Florida

Boasso and Quala have agreed to merge their businesses to form an infrastructure services solution providers for the liquid bulk logistics industry. No financial terms were disclosed.

Boasso is backed by KKR and Quala is backed by Advent International.

According to terms of the deal, KKR will inject further growth capital into Boasso to facilitate the merger with Quala via a purchase of shares from Advent International.

Both Boasso and Quala are based in Tampa, Florida.

“Boasso and Quala are premier infrastructure service providers to the global liquid bulk logistics ecosystem with trusted reputations and highly complementary networks and service offerings,” said Dash Lane, a partner at KKR, in a statement. “This transaction is about growth and empowering the two great teams led by Joe Troy and Scott Harrison to come together and make long-term investments in quality, safety and superior solutions for customers.”

Advent invested in Quala in 2016.

The transaction is expected to close in the first half of 2023.

Simpson Thacher & Bartlett LLP provided legal counsel to Boasso and KKR while Citi was financial advisor. Weil Gotshal & Manges LLP served as legal counsel to Quala and Advent and Credit Suisse was lead financial advisor, with Bank of America also providing financial advice.