Hilco acquires J-M Transport from Crystal Flash

Affiliates of Hilco Holdings Inc. have completed the acquisition of substantially all of the operating assets of J-M Transport from Crystal Flash Inc.

The deal closed Sept. 26, and J-M Transport began operating as part of Hilco on Sept. 28. Financial terms were not disclosed.

J-M Transport, founded in 1983 by the Jacobson family in Millington, Illinois, provides liquid bulk transportation services, including propane hauling, throughout the Midwest. Crystal Flash acquired the company in 2021.

“J-M Transport brings an experienced team, strong customer relationships and established Midwest operations that complement Hilco’s existing capabilities,” says Jon Long, CEO of Hilco Holdings. “Our immediate priorities are supporting J-M Transport’s employees and owner-operators, maintaining the safe and dependable service its customers expect and investing in the continued growth of the business.”

Brad Gandy, president and CEO of Crystal Flash, says the company sought a buyer with the transportation experience, resources and values to build on J-M Transport’s foundation. “We believe Hilco is well positioned to carry the business forward,” says Gandy.

J-M Transport’s employees, owner-operators and operating leadership are continuing with the business, and customers will keep working with their existing contacts. Hilco and Crystal Flash say they coordinated the transition to maintain continuity of service.

Legacy Energy Consulting served as exclusive financial advisor to Crystal Flash. Knaggs Brake PC served as legal counsel to Crystal Flash, and Carruthers & Roth PA served as legal counsel to Hilco.

Featured homepage image: designer491/iStock / Getty Images Plus/Getty Images

---

Related articles

Seller stories from propane retailers

Crystal Flash names president, CEO

Crystal Flash acquires Illinois-based J-M Transports