Large Illinois trucking company abruptly closes after 41 years
After 41 years, a family-owned dry and liquid bulk trucking company, Dillon Logistics Inc., ceased operations as of midnight Tuesday.
Dillon Logistics Inc., doing business as Dillon Transport, was headquartered in Burr Ridge, Illinois. The carrier had 342 drivers and 323 power units at the time of its closure, according to the Federal Motor Carrier Safety Administration’s SAFER website.
While the company has yet to issue a formal statement regarding the carrier’s closure, a former Dillon Transport executive, who spoke to FreightWaves on the condition of anonymity, confirmed the news Wednesday that the company had shuttered operations.
“The decision was made by our private equity owners,” the former Dillon executive told FreightWaves.
According to PitchBook, private equity firm Cotton Creek Capital recapitalized Dillon Transport to support the company’s continued expansion efforts in January 2017.
As of publication, Antonio DiGesualdo, managing director of Cotton Creek, did not respond to FreightWaves’ requests seeking comment about the closure.
Founded in 2006, Texas-based Cotton Creek has offices in Dallas, Fort Worth and Austin, and focuses on investing in lower middle-market companies in the U.S.
Cotton Creek invests in companies within the manufacturing, infrastructure, value-added distribution, industrial services, building products, specialty chemical, business services, food and beverage, transportation and logistics sectors, according to PitchBook.
Dillon Transport’s Facebook page was deactivated Tuesday, company email addresses listed on the carrier’s website weren’t working and no one was answering the telephone at its nine terminals in the country.
Founded in 1980, Dillon Transport provided dry bulk and liquid tanker services to the agriculture, building products, industrial, and energy industries.
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Source and credits:/ FreightWaves
iTrucker / Mario Pawlowski / iTrucker.com
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