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Quality Distribution Sells Tank Wash Unit

3:05 PM MDT | October 12, 2009 | Vincent Valk

Quality Distribution (Tampa, FL) has sold Quala Systems, the company's tank wash subsidiary, to a group of investors, the company announced today. The investor group, called QualaWash Holdings, is composed of former Quala Systems president Mike Bauer and KLH Capital (Tampa, FL), a small business investment firm. The deal was valued at $13 million, of which $10 million was paid in cash. "This transaction is beneficial to Quality Distribution because it will further simplify our business model, allow us to focus on our core business and provide us with...

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