Quality Distribution on Monday, June 4, announced that it has completed its acquisition of certain operating assets of Wylie Bice Trucking. Quality says it anticipates completing the previously announced acquisition of the operating assets and rights of RM Resources in the immediate future.
Headquartered in Killdeer, N.D., Bice is a provider of transportation services to the unconventional oil and gas industry within the Bakken shale region, primarily hauling fresh water, flowback and production water, and oil for numerous energy customers. Bice
operates two trucking terminals in North Dakota using about 500 drivers. Bice is principally an asset-light business as the company primarily uses owner-operators.
Quality on May 7 announced the acquisitions for an aggregate purchase price of $79.3 million, plus potential additional consideration of $19.0 million, if certain future operating and financial performance criteria were satisfied.