Hilco Acquires J-M Transport From Crystal Flash

GREENSBORO, N.C., and GRAND RAPIDS, Mich. (Sept. 28, 2026) — Hilco Holdings Inc. (Hilco) and Crystal Flash Inc. (Crystal Flash) announced that affiliates of Hilco have completed the acquisition of substantially all of the operating assets of J-M Transport from Crystal Flash.

The transaction closed on Sept. 26, 2026, and J-M Transport began operations as part of Hilco on Sept. 28, 2026. Financial terms were not disclosed.

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

“J-M Transport brings an experienced team, strong customer relationships and established Midwest operations that complement Hilco’s existing capabilities,” said 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. We are pleased to welcome the J-M Transport team to Hilco.”

“This transaction represents an important strategic step for Crystal Flash and provides a strong next chapter for J-M Transport, its employees, owner operators and customers,” said Brad Gandy, president and chief executive officer of Crystal Flash. “We approached the process carefully and were committed to finding an organization with the transportation experience, resources and values to build on J-M Transport’s strong foundation. We believe Hilco is well positioned to carry the business forward.”

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

Legacy Energy Consulting served as exclusive financial advisor to Crystal Flash in connection with the transaction. Knaggs Brake, P.C. served as legal counsel to Crystal Flash. Carruthers & Roth, P.A. served as legal counsel to Hilco.