About the Transaction
Frank’s Vacuum Truck Service, Inc. (“FVTS”) (www.franksvac.com) is a nationwide leader in general freight transportation services. FVTS specializes in the transportation and management of hazardous and non-hazardous waste, with service offerings spanning to over 48 states in the US as well as Canada. FVTS’s diverse client base includes: Fortune 500 Corporations, Industrial Facilities, Chemical Processors, Utility Companies, Railroads, Contractors, Engineering Firms, Government Agencies, TSDFs, and other waste generators.
The buyer, Heritage Transport (“Heritage”) (www.heritage-enviro.com) is national transportation fleet affiliated with Heritage Environmental Services, a cutting-edge industrial waste disposal company. Founded in the 1970’s, Heritage prides itself on protecting human health and the environment by pioneering sustainability measures that turn waste into productive, sustainable assets. Heritage Environmental Services, an international company, is headquartered in Indianapolis, Indiana.
The acquisition of Frank’s marks a beneficial growth opportunity for Heritage’s North American transportation operation. The acquisition adds a full transportation line for Heritage, including a large fleet of over 150 tankers, tractors, box vans, and vacuum tankers. Prior to the acquisition, FVTS was one of the Heritage’s largest third-party transportation providers, with a strong partnership over the last 20 years. “Expanded trucking capacity allows us to better services our customers and take on new opportunities,” Jon Neale, Chief Financial Officer of Heritage, said. “Heritage views its drivers as a strategic resource to our customers as the face of the company, and this investment shows continued commitment to that.”
Heritage plans to retain all of the FVTS employees as well as maintain the current headquarters and personnel at the existing Niagara Falls, NY location.
