F.T. Silfies Inc., a Nazareth, Pa.-based regional Mid-Atlantic dry bulk carrier, has purchased the assets of Gensimore Trucking of Pleasant Gap, Pa. Terms of the acquisition — which adds 50 tractors and 97 trailers to Silfies’ fleet — were not announced.
“We are very excited to have purchased Gensimore, a family-owned dry bulk carrier since 1922 in the State College, Pennsylvania area,” says Randy Sheeler, president and chief executive officer of Silfies. “The company has been operated by the four Gensimore brothers, all second-generation family members of the founder, Calvin Gensimore.”
The acquisition allows Silfies to expand its aggregate hauling capabilities to include lime, pebble lime, glass stone and flyash on high cube trailers, as well as hazardous waste. “As we replace equipment over the next few years, the Silfies name will now be a part of the great history that Gensimore has provided to their valued customers,” Sheeler says. “Moreover, we will add the necessary technology and benefits that will make Silfies a premier carrier in this area. Our team worked diligently registering as a Pennsylvania hazardous waste carrier and secured permits in a timely manner so as not to disrupt service to our customers.”
Bruce Donovan, Silfies vice president and general manager, will lead the transition team at Gensimore and oversee that operation with Bradley Gensimore, who has been retained as terminal manager.
“We stand committed to this industry, and our partners continue to be excited with our portfolio in dry bulk transportation,” says Evan Wechsler, managing director of McLean, Va.-based Quantum Equity Partners, owners of Silfies. “We overhauled Silfies in a very short time frame to provide a great platform to work from with technology and equipment and will continue to grow the business, both organically and through acquisitions. The transition the drivers and employees of Gensimore Trucking went through was one of the best I’ve seen in years. The Silfies team worked very hard in their due diligence and customer visits.”
