“I am extremely pleased with the outcome of the sale to Bruce Oakley,” said Joe Janoush. “We desired a synergistic transaction with a firm that shared our core values. The Falls River Group team of Kerry Dustin, Kurt Andersen, Maegan Evans and Trisch Garthoeffner did an outstanding job in completing the transaction that met our requirements.”
Paul Janoush added, “We are looking forward to combining our operations and capabilities with Oakley. Our similar culture, and combined strength will enhance our ability to meet customer needs while giving our company a strong competitive advantage. JANTRAN’s executive management and its entire team will stay in place and will be an important part of Bruce Oakley.”
Commenting on the transaction, Kerry Dustin, chairman of Falls River Group, LLC said, “We are pleased to have been associated with the owners and management of both JANTRAN, Inc. and Bruce Oakley, Inc. The operations of JANTRAN and Oakley are highly complimentary and we believe this transaction represents a terrific outcome for both companies. The Janoush and Oakley families are excellent businessmen and people. We are proud to have worked with them.”
Dustin is also FINRA registered in investment banking with StillPoint Capital LLC, through whom the sale was affected.
Dennis Oakley, CEO of Bruce Oakley said, “We are excited and pleased to have the JANTRAN team join the Oakley team. The business fit and people fit are excellent.”
JANTRAN was originally established as Janoush Marine, Inc. in 1978 as a marine architectural and construction firm.
In 1981, Janoush Towing, Inc. was formed to begin towing services on the McClellan-Kerr Arkansas River Navigation System and by 1983 had become the primary dry goods barge towing company on the river.
In 1987, JANTRAN, Inc. was formed.
In the ensuing 23 years, JANTRAN has grown its fleet from four to 17 towboats becoming one of the largest towing operations on the Arkansas River.
Bruce Oakley, Inc., through its subsidiaries, operates as a bulk commodity distribution transportation company.
Bruce Oakley, Inc. was founded in 1968 and is based in North Little Rock, Ark.
The company has ports in Morrilton, Dardanelle, Pendleton, and North Little Rock, Ark.; Shreveport, La.; and Caruthersville, Mo., as well as a bagging facility in Beebe.
A global merger and acquisition advisory services firm, Falls River Group, LLC. is out of Naples, Fla.