Our History
Equalizer Inc. is a Third-Generation Waco-Based Family Owned Business
Equalizer, Inc. began with a vision rooted in hard work, innovation, and a commitment to serving Central Texas. From a humble gas station in Waco to a thriving enterprise in bulk commodities and storage, our journey spans over several decades, driven by family values and entrepreneurial spirit.
1953: The Beginning at Magnolia Oil in Waco, Texas
In 1953, Johnny Newman, a respected Waco native and skilled golfer, opened a Mobil gas station, known locally as Magnolia Oil, at 11th and Webster, near the iconic silos now made famous by Chip and Joanna Gaines. Johnny, born to Polish immigrant farmers in Elmont, Texas, was approached by Mr. Lacy, president of Citizens National Bank and owner of the nearby silos. Lacy saw potential in Johnny and encouraged him to borrow funds to purchase “syrup wagons” (tanker trailers) to haul cane molasses, a byproduct of sugar refining, for his feed mill operations. This marked the start of Waco Molasses Company, a transportation business that laid the foundation for our future.
1969 : Pioneering Liquid Feed with Wagon Master
In the late 1960s, Johnny partnered with Tom Kearse, a sales representative from National Molasses Company, to explore new uses for cane molasses. They discovered its potential as a carrier for non-protein nitrogen (NPN), a urea-based cattle supplement. 1969 they founded Wagon Master Liquid Feeds, building satellite plants to blend and distribute liquid protein supplements across Texas. Our Waco Molasses Company managed all the transportation of raw materials to various sites, allowing us to establish a collaboration between the two businesses.
1978: Expanding with Equalizer
In 1978, Johnny’s grandson, Douglas Stevens, joined the business, bringing fresh energy. That same year, with Douglas's help, Wagon Master acquired Equalizer Liquid Feed from Leon Bates in Longview, Texas, doubling the company’s reach. We were introduced to liquid fertilizer, a complementary product with the same infrastructure. Through this acquisition, we recognized the potential. We rebranded to Equalizer, Inc., to better represent our expanding presence in the fertilizer and feed industries.
1991-2003: Diversifying into Dry Bulk and Beyond
In 1991, we ventured into dry bulk fertilizer by acquiring a facility in Hillsboro, Texas, and began transloading fertilizer at Port Lavaca. A strategic purchase of a terminal in Victoria, Texas, expanded our capacity with a large dry shed for products like urea and phosphates. By 2003, we had expanded into third-party storage for large manufacturers by acquiring a sizable facility in Nebraska that stored cryogenic ammonia. These actions strengthened our position as a wholesale leader in bulk commodities and agricultural fertilizers.
2025: A Legacy of Growth
Today, Equalizer, Inc. thrives as a leader in bulk commodity handling, from molasses and liquid fertilizers to dry bulk and third-party storage. Our recent entry into the mining sector reflects our commitment to growth and innovation. Guided by Johnny Newman’s timeless advice, “If you don’t try, you’ll never know,” we continue to seize opportunities, serving our community and customers with the same dedication that started in 1953.
From a single gas station to a multi-faceted enterprise, Equalizer, Inc. remains a family-driven company run by Douglas Stevens and his sons, rooted in Texas and built on the values of hard work, trust, and forward-thinking. We’re proud to carry Johnny Newman’s legacy into the future, one opportunity at a time.