Dillon Transport closes its doors in early September
Dillon Transport Closes Its Doors – Dillon Transport of Burr Ridge, Ill., closed its doors in early September, according to sources at the company. Founded 41 years ago, the family-owned dry and liquid-bulk trucking company had 342 drivers and 323 power units
Dillon Transport closes its doors in early September, according to sources at the company. Founded 41 years ago in Burr Ridge, Ill., the family-owned dry and liquid-bulk trucking company had 342 drivers and 323 power units, according to the Federal Motor Carrier Safety Administration’s SAFER website.
Former drivers, employees and other logistics firms started posting about the company’s demise on social media in early September, but the company at that point had not issued a formal statement confirming the closure.
Dillon Transport’s Facebook page was deactivated in early September, 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.
Dillon Transport Closes Its Doors – Jeffrey Dillon, founder and president of Dillon Transport, did not respond to requests seeking comment as of publication
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Jeffrey Dillon, founder and president of Dillon Transport, did not respond to requests seeking comment as of publication.
According to PitchBook, private equity firm Cotton Creek Capital recapitalized Dillon Transport to support the company’s continued expansion efforts in January 2017.
Texas-based Cotton Creek has offices in Dallas, Fort Worth and Austin, founded in 2006, focuses on investing in lower middle-market companies in the U.S.
Dillon Transport Closes Its Doors – …private equity firm Cotton Creek Capital recapitalized Dillon Transport to support the company’s continued expansion efforts in January 2017.
The firm focuses on investing 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.
As of publication, Cotton Creek did not respond to requests for comment regarding Dillon Transport.
Each year a large number of trucking operations, particularly small carriers, go out of business. Data on closures this year is incomplete, but in 2020 about 3,140 fleets shut down – a 185 percent jump from 2019, according to transportation industry data firm Broughton Capital LLC. Roughly half of those failures came in the second quarter, when freight volumes plummeted amid widespread shutdowns aimed at limiting the spread of Covid-19.
Dillon Transport Closes Its Doors – “We had a record number go out of business in the second quarter and a record number in the month of May,” said Donald Broughton, Broughton Capital’s managing partner.
“We had a record number go out of business in the second quarter and a record number in the month of May,” said Donald Broughton, Broughton Capital’s managing partner.
Smaller trucking companies were particularly hard hit, according to the firm’s data. In 2020 the average size of failed fleets was 40-percent smaller than in 2019, when the shutdowns included Celadon Group Inc., a large national truckload carrier that operated some 3,300 trucks.
