Walker Group Holdings LLC of New Lisbon WI, a portfolio company of Insight Equity, has purchased the Mexico-based manufacturing assets of Bulk International from Bulk Resources Inc. Bulk is one of North America's leading manufacturers of stainless steel tank trailers for transportation of chemical and foodgrade products.
Tank trailers will continue to be built and marketed under the Bulk name. No financial details of the transaction are being made available.
Brandon Bethea, principal of Insight Equity, said, “We are elated to announce the closing of this transaction. We believe Bulk is a very unique asset and are thrilled to add it to the Walker family. In our estimation, Walker Group Holdings is now uniquely positioned to serve the liquid tank trailer marketplace.”
Doug Chapple, Walker's chief executive officer, said, “We are truly excited to have Thomas Ballon and his team join the Walker Group family. This should provide an exciting opportunity for all parties.”
Chapple added that the Bulk acquisition is part of the continued diversification effort by Walker Group. It also gives Walker Group a footprint in a low-cost country.
“When I joined Walker Group, it was the first time in over 20 years in the automotive industry that I didn't have operations in Mexico,” he said. “We will look at consolidation strategies in the wake of this acquisition, but we have no immediate plans. We may manufacture common components at the Mexico plant.”