Fort Worth, Texas-based Pilot Thomas Logistics has announced that it has acquired a controlling interest in U.S. bunker and marine players Economy Boat Stores and Radcliff / Economy Marine Services (Radliff Economy).
Founded in 1936, EBS and Radcliff Economy were said to be "leading marine suppliers of diesel fuel, lube oil, supplies, and terminal services to the commercial barge transportation industry on the Upper and Lower Mississippi River and Gulf Coast.
The operation bases include Wood River, IL; St Louis; MO; Wickliffe, KY; Memphis, TN; Baton Rouge, LA and Mobile, AL.
"We are very pleased to reach an agreement with EBS and Radcliff Economy Marine Services. We are happy to be partnering with the present owners and management team of EBS and Radcliff Economy Marine Services," said Scott Prince, President and CEO of PTL.
"The partnership will enhance our marine fuel, lubricants, and supply segments, and add experienced leadership to our team.
"Both companies have developed outstanding long-term relationships with customers and suppliers in the marine fueling industry in the Mississippi River and Gulf Coast markets."
The current owners of EBS and Radcliff Economy are said to be continuing on as both financial and operating partners for the businesses, and as a result there is not expected to be any change in the daily business management.