What EQUALIZER, INC. does

Equalizer, Inc. is a privately held, family-owned bulk commodity management company headquartered in Waco, Texas, founded in 1953 by Johnny Newman and now operated in its third generation under Doug Stevens and his sons. The company provides integrated loading, storage, transportation, and manufacturing services for fertilizers, frac sand, liquid feed supplements, crude oil and condensate, and industrial chemicals including anhydrous ammonia, caustic soda, and sulfuric acid. Operations are delivered through four strategically located facilities (Waco TX, Victoria TX, Port Lavaca TX, Hastings NE) with multi-modal access to Union Pacific/BNSF rail, intercoastal barge, and a private truck fleet, plus the Wagon Master sub-brand for protein/energy liquid supplements for ruminants.

The company's go-to-market is enterprise field sales targeting three primary verticals: agricultural and farming communities (fertilizer and liquid feed), oil and gas operators (frac sand management and crude/condensate handling), and industrial manufacturers (third-party and condo bulk storage of liquid chemicals). Revenue is generated through sale of fertilizer products, transaction-fee transportation and logistics services, and managed third-party storage contracts; pricing is quote-based and negotiated by volume and commodity type with no public disclosure. The technology stack is operational infrastructure rather than software: storage tanks, dry sheds, rail sidings, barge docks, and 110-unit train car unloading capability at the Hastings site, which the company states has the largest liquid fertilizer storage capacity in the nation.

The company holds two wholly owned subsidiaries: Equalizer Midwest, the regional market entity in Hastings, Nebraska, and St. Cloud Mining Company, which is described as the largest natural zeolite producer in North America and represents the company's 2025 diversification into the mining sector. The business remains entirely bootstrapped and family-financed, with no venture, private equity, or institutional investors and no external funding rounds disclosed across its 70+ year history.

Name

EQUALIZER, INC.

Legal name

Equalizer, Inc.

Website

https://equalizerinc.com

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

11–50 employees

Short description

Equalizer, Inc. is a third-generation, family-owned bulk commodity management company that provides loading, storage, transportation, and manufacturing services for fertilizers, frac sand, liquid feed, crude oil, and industrial chemicals across four facilities in Texas and Nebraska.

Ownership category

akta.pro rank

Product category

Bulk Commodity Logistics and Storage

NAICS

Other Farm Product Raw Material Merchant Wholesalers (424590), Farm Product Warehousing and Storage (493130), Farm Supplies Merchant Wholesalers (42491), Livestock Merchant Wholesalers (42452)

SIC

Wholesale-Farm Product Raw Materials (5150), Agricultural Prod-Livestock & Animal Specialties (200)

akta.pro primary industry

Bulk Handling & Conveying for Processing Lines (Augers, Elevators, Conveyors) (AFAAAJAJ)

Keywords

• Bulk commodity management
• Fertilizer distribution
• Frac sand logistics
• Bulk storage services
• Liquid feed manufacturing

Headquarters

HQ city

WACO, Texas

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Fertilizer Products and Distribution: Sale of liquid and dry fertilizers and custom blends to farming communities, supported by in-house storage and transportation capabilities.
2. Transportation and Logistics Services: Transportation of bulk commodities via rail (UP/BN), intercoastal barge, and truck. Revenue generated from freight and logistics services for frac sand, fertilizers, crude oil, condensate, and industrial chemicals.
3. Bulk Storage and Condo Storage Services: Third-party storage services for bulk liquids and dry commodities including liquid fertilizer, NH3, SPA, caustic soda, and sulfuric acid. Provides private fleet delivery of liquid feed supplements.
4. Wagon Master Liquid Feed Products: Manufacturing and distribution of Wagon Master liquid protein/energy supplements for ruminants. Products are delivered via privately owned fleet of trucks and can be custom blended to meet customer feeding needs.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Equalizer, Inc. provides integrated bulk commodity management for agricultural, energy, and industrial customers, delivering liquid and dry fertilizer products with custom blending, multi-modal transportation by rail, barge, and private truck fleet, dedicated bulk liquid and dry condo storage, frac sand supply chain handling, and the Wagon Master line of liquid protein/energy supplements for ruminants. Services are operated from four strategically located facilities in Waco, Victoria, and Port Lavaca, Texas, and Hastings, Nebraska, providing end-to-end loading, storage, and delivery solutions.

Product overview

Equalizer, Inc. is a family-owned bulk commodity management company offering a portfolio of integrated services centered on fertilizer, frac sand, transportation, and storage. The core offerings include Fertilizer products (liquid, dry, and custom blends), Transportation (rail, barge, and truck), Bulk Commodities Loading and Condo Storage, and Frac Sand Management. The company also operates the Wagon Master Liquid Feed sub-brand for protein/energy supplements for ruminants. The services are delivered through strategically located facilities in Texas and Nebraska, providing loading, storage, and transportation solutions for various bulk commodities.

Differentiator

Problem solved

Functional benefit

Brands

• Wagon Master Feed: Balanced protein-energy liquid supplements for ruminants, featuring high-quality rumen-friendly nutrients with excellent palatability and customizable blends.
• Wagon Master Liquid

Products and services

• Fertilizer Products Liquid and dry fertilizer products including custom blends to replenish soil nutrients, boost crop yields, and support sustainable farming for agricultural customers across Texas, Nebraska, and surrounding regions.
• Multi-Modal Transportation Services Bulk commodity transportation services via Union Pacific and BNSF rail, intercoastal barge, and truck for frac sand, fertilizers, liquid feed, anhydrous ammonia, crude oil, condensate, and industrial chemicals.
• Bulk Commodities Loading and Condo Storage Comprehensive bulk commodity handling and third-party storage solutions including bulk condo liquid and dry storage, liquid feed manufacturing, SPA conversion, anhydrous ammonia refrigeration and storage, and direct transfer services for agricultural, energy, and industrial customers.
• Frac Sand Management End-to-end frac sand supply chain management including bulk condo storage, handling, and transportation via rail, truck, and intercoastal barge for hydraulic fracturing operations in the oil and gas industry.
• Wagon Master Liquid Feed Supplements Wagon Master liquid protein and energy supplements for ruminants, formulated as balanced, rumen-friendly nutrients in a low-starch form, with customizable blends delivered via the company's private fleet of trucks to cattle operations.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• NGL Energy Partners: NGL Energy Partners operates in the distribution, storage, and transportation of liquid commodities including fertilizers, industrial chemicals, and crude oil—a closely comparable multi-modal bulk commodity handler.
• Zen-Noh Grain Corporation (ZGC): ZGC is a major grain and fertilizer export/handling company operating terminals along the Gulf Coast and inland waterways with barge and rail access; directly comparable to Equalizer's Gulf Coast logistics and bulk commodity operations.
• Gavilon (Marubeni): Gavilon, now owned by Marubeni, is a major North American commodity management and distribution company handling fertilizer, grain, and energy products across rail, barge, and truck networks—directly overlapping Equalizer's bulk commodity distribution model.
• TransMontaigne Partners: TransMontaigne operates bulk liquid storage terminals and distribution facilities across the U.S., providing commodity storage and logistics services similar to Equalizer's bulk commodity storage and condo storage offerings.
• CHS Inc. CHS is a large farmer-owned cooperative that wholesales fertilizer, crop inputs, and energy products across the Midwest and Plains, with extensive rail and barge logistics—a direct comparator to Equalizer's fertilizer and bulk commodity business.

Broad incumbents

• Koch Ag & Energy Solutions: Koch Ag & Energy Solutions distributes and trades crop inputs, fertilizer, and energy products globally through extensive logistics infrastructure; a much larger but comparable competitor in agricultural and energy commodity distribution.
• Plains All American Pipeline: Plains All American is a major midstream energy logistics company handling crude oil and natural gas liquids through extensive storage and pipeline networks; comparable to Equalizer's crude oil and condensate handling at Port Lavaca and Victoria.
• Nutrien Ag Solutions: Nutrien Ag Solutions is the retail/wholesale arm of Nutrien Ltd., the world's largest fertilizer producer; competes with Equalizer in wholesale fertilizer distribution across the Midwest and Southern U.S. and dwarfs Equalizer in scale and reach.
• Kinder Morgan Terminals: Kinder Morgan operates one of the largest independent terminal networks in North America, handling bulk liquids including chemicals and fertilizers; a broader incumbent with overlapping bulk storage capabilities.

Regional players

• Heartland Co-op: Heartland Co-op is a Midwest-focused agricultural cooperative providing fertilizer, grain handling, and agronomy services across Iowa and neighboring states; a regional comparator to Equalizer's Midwest (Hastings NE) fertilizer and bulk operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/equalizer-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EQUALIZER, INC.