Equalizer

What Equalizer does

Equalizer, Inc. is a third-generation, family-owned bulk commodity management company headquartered in Waco, Texas, founded in 1953 as a molasses hauling business by Johnny Newman. The company has evolved into a vertically integrated provider of five core offerings: liquid and dry fertilizer (including custom blends), frac sand supply chain management for the energy sector, bulk commodity loading and condo storage (including NH3 refrigeration, SPA conversion, and direct transfer services), in-house manufactured liquid protein/energy supplements for ruminants under the Wagon Master brand, and multi-modal transportation via Union Pacific/BNSF rail, intercoastal barge, and a privately owned truck fleet. Underlying technology consists of physical infrastructure — rail spurs, barge docks, cryogenic ammonia storage tanks, NH3 refrigeration systems, specialized liquid feed blending plants, and direct rail-to-truck and barge-to-truck transfer systems — rather than digital platforms.

Equalizer operates four strategically located facilities: Waco, TX (headquarters, operating since 1978); Victoria, TX (operational since 1994, providing rail and barge access plus crude oil handling); Port Lavaca, TX (opened 1989, with a 70-acre developable site and Gulf coast access); and Hastings, NE (acquired 2002/2003, housing the largest liquid fertilizer storage capacity in the nation). Revenue is generated through five streams — fertilizer product sales, liquid feed product sales, frac sand management services, bulk storage and handling services (including third-party storage for large manufacturers), and transportation/logistics — primarily via direct enterprise field sales with quote-based, custom-priced contracts. Customers span four verticals: agriculture and farming communities (Texas and Nebraska), oil and gas (frac sand, crude oil, condensate), industrial and chemical sectors (caustic soda, sulfuric acid, NH3), and mining (natural zeolites via the St. Cloud Mining subsidiary). The company remains entirely family-owned with no institutional investors, led by CEO/Owner Doug Stevens, CFO Vicky O'Brien, VP Jason Stevens, and a relationship-driven sales organization.

Name

Equalizer

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 providing fertilizer, frac sand, liquid feed, multi-modal transportation, and storage services to agriculture, energy, industrial, and mining customers across Texas and Nebraska.

Ownership category

akta.pro rank

Product category

Bulk Commodity Logistics and Storage Services

NAICS

Farm Supplies Merchant Wholesalers (42491), Farm Product Warehousing and Storage (493130)

SIC

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

akta.pro industry

PRIMARYAFADAAAI

TMR/Complete Rations & Pelleted Ruminant Feeds

Agriculture & Food Production/Animal Feed Manufacturing/Ruminant Feed (Cattle, Sheep, Goats)

SECONDARYAFAAAIAE

Feeding & Nutrition Systems (TMR Mixers, Feeders, Bunk Management)

Agriculture & Food Production/Agricultural Equipment & Technology/Livestock & Dairy Farm Equipment (Milking, Feeding, Monitoring)

SECONDARYAFAAADAG

Tank Mixing, Transfer & Chemical Handling Systems (Induction Hoppers, Loaders)

Agriculture & Food Production/Agricultural Equipment & Technology/Crop Protection Application Equipment (Sprayers, Drones, Spreaders)

Keywords

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

Headquarters

HQ city

Waco

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fertilizer Products: Sale of liquid and dry fertilizers and custom blends to farming communities. Products are delivered via company's private fleet of trucks or third-party transportation.
2. Liquid Feed Products: Production and sale of Wagon Master liquid protein/energy supplements for ruminants. Products are manufactured at company feed blending plants and delivered via privately owned truck fleet.
3. Frac Sand Management: End-to-end frac sand supply chain management including storage, loading, and transportation via rail, truck, and intercoastal barge.
4. Bulk Storage and Handling Services: Condo storage solutions for bulk liquid and dry commodities, including NH3 refrigeration and storage, SPA conversion, and direct transfer services.
5. Transportation and Logistics: Bulk commodity transportation by UP/BN rail, intercoastal barge, and truck. Services include frac sand, fertilizers, liquid feed, NH3, crude oil, condensate, caustic soda, sulfuric acid, and other commodities.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Equalizer, Inc. is a family-owned bulk commodity management company that produces and distributes liquid and dry fertilizer and custom blends, manufactures the Wagon Master line of liquid protein/energy feed supplements for ruminants, manages end-to-end frac sand supply chains, and provides multi-modal bulk commodity transportation (rail, barge, truck) and condo storage solutions for liquid and dry industrial materials across facilities in Texas and Nebraska.

Product overview

Equalizer Inc. operates as a diversified bulk commodities management company offering a portfolio of integrated services organized around four core offerings: fertilizer products (liquid, dry, and custom blends); frac sand management for the energy industry; bulk commodities loading and condo storage; and transportation via rail, barge, and truck. The company also manufactures Wagon Master liquid feed supplements for ruminants. Under its brand network, Equalizer includes sub-brands St. Cloud Mining (natural zeolites), Equalizer Midwest (Midwest bulk commodity operations), Flying L Ranch Resort, and Red Bird Ranch. All services are delivered through four strategically located facilities in Waco, Texas, Victoria, Texas, Port Lavaca, Texas, and Hastings, Nebraska.

Differentiator

Problem solved

Functional benefit

Brands

• Wagon Master Feed: Balanced, high-quality protein-energy supplements for ruminants with excellent palatability and customizable blends to meet various feeding needs.
• Wagon Master Liquid
• St. Cloud Mining

Products and services

• Fertilizer Products High-quality liquid fertilizer, dry fertilizer, and custom blends designed to replenish soil nutrients, boost crop yields, and support sustainable farming for agricultural producers in Texas and Nebraska.
• Transportation Services Bulk commodity transportation via Union Pacific/BNSF rail, intercoastal barge, and company-owned truck fleet, moving frac sand, liquid and dry fertilizer, liquid feed, NH3, urea, grain, crude oil, condensate, caustic soda, sulfuric acid, and mill scale for agricultural, energy, and industrial customers.
• Bulk Commodities Loading and Condo Storage Comprehensive bulk handling and storage solutions including bulk condo liquid and dry storage, liquid feed manufacturing, SPA conversion, NH3 refrigeration and storage, direct transfer services, and trucking and logistics handling for industrial manufacturers and agricultural customers.
• Frac Sand Management End-to-end frac sand supply chain management including storage, loading, and transportation via rail, truck, and intercoastal barge for oil and gas operators conducting hydraulic fracturing.
• Wagon Master Liquid Feed Balanced protein/energy liquid supplements for ruminants manufactured in-house, including Wagon Master Ultra (16% crude protein, 10% fat), Wagon Master 32-3 (32% crude protein, 3% fat), and Wagon Master 32-5 (32% crude protein, 5% fat), delivered via private truck fleet to cattle operations.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• St. Cloud Mining CompanycoreOthersSt. Cloud Mining Company is the largest producer of high-quality natural zeolites in North America and the only company that owns and operates a complete range of zeolite deposits. It operates under Jason Stevens' oversight as Vice President, managing and expanding this division alongside Equalizer Midwest.
• Wagon Master FeedcoreOthersWagon Master Feed offers balanced, high-quality protein-energy supplements for ruminants with excellent palatability and customizable blends. It is produced in-house at company feed blending plants and delivered via a private fleet of trucks.
• Equalizer MidwestcoreOthersEqualizer Inc. expanded beyond Texas to offer transportation, storage solutions, and efficient management of bulk commodities like liquid fertilizer, NH3, SPA, and more. Operated from Hastings, Nebraska location.
• Flying L Ranch Resort & Golf CourseminorOthersFlying L Ranch is a family-owned and operated resort and golf course in Texas Hill Country, blending rich aviation history with modern hospitality since its founding in 1947.
• Flying Red Bird RanchminorOthersRed Bird Ranch is a family-owned hunting and cattle ranch in South Texas.

Scale indicators3 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Smart Sand Inc. Frac sand producer with integrated mine-to-well logistics. Overlaps with Equalizer's frac sand handling, storage, and intermodal transport capabilities, particularly through Texas and Gulf-region operations.
• Gavilon (Marubeni): Commodity management firm handling fertilizer, grain, and energy products with storage and logistics infrastructure. Closest comparable in business model: physical commodity management, multi-modal logistics, and B2B farm/energy customer base.
• U.S. Silica Holdings (now Atlas Energy Solutions / SandBox Logistics): Major frac sand producer and last-mile logistics provider for the oil & gas industry. Direct overlap with Equalizer's frac sand management and bulk storage/transport business serving hydraulic fracturing customers.

Broad incumbents

• ADM (Archer Daniels Midland): Global agribusiness giant handling grain, fertilizer, and bulk commodity transportation via barge and rail. Overlaps with Equalizer's bulk commodity storage and multi-modal transportation services for ag inputs.
• CF Industries Holdings: Major North American nitrogen fertilizer manufacturer producing ammonia, urea, and ammonium nitrate. Overlaps with Equalizer's NH3 storage, handling, and fertilizer distribution business at the production end of the value chain.
• CHS Inc. Largest U.S. agribusiness cooperative, providing fertilizer, crop inputs, energy (propane, refined fuels), grain, and transportation/logistics services across the U.S. Direct overlap with Equalizer's fertilizer, energy logistics, and bulk commodity business lines, but at vastly larger national scale.
• Bunge Limited: Global agribusiness and food company with extensive grain origination, fertilizer distribution, and bulk logistics infrastructure. Comparable to Equalizer in bulk commodity handling, fertilizer distribution, and multi-modal transport.
• Nutrien Ltd. World's largest fertilizer producer and distributor with retail ag operations across North America. Competes directly with Equalizer in liquid fertilizer supply and storage, but at global production scale versus Equalizer's regional distribution focus.
• Koch Ag & Energy Solutions (Koch Fertilizer): Subsidiary of Koch Industries producing and distributing nitrogen fertilizers globally with extensive logistics infrastructure. Overlaps with Equalizer's fertilizer storage, transport, and distribution capabilities.

Emerging players

• Lhoist Group: Global leader in lime and mineral products with mining, processing, and distribution operations. Comparable to St. Cloud Mining (Equalizer's zeolite subsidiary) in industrial minerals production and bulk handling.

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

Subsidiaries3 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