Kenan Advantage Expands Dry Bulk With Two November Deals
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Kenan Advantage Group has expanded its dry bulk transportation services with two acquisitions in November, strengthening its logistics capabilities across North America.
North Canton, Ohio-based KAG announced the acquisitions of PRM Trucking, a Michigan-based company specializing in logistics for the manufacturing and foundry industries, and XBL Holdings, including its subsidiaries Xcel Bulk Logistics and XBL Industrial Materials. XBL, headquartered in Weatherford, Texas, operates a large dry bulk fleet in the Carolinas and has operations in the Gulf Coast and Midwest regions.
Kenan Advantage Group ranks No. 21 on the Transport Topics Top 100 list of the largest for-hire carriers in North America. Its freight brokerage arm KAG Logistics ranks No. 97 on the TT Top 100 list of North America’s largest logistics companies.
Through the XBL transaction, KAG will add 186 tractors, 356 trailers, 10 mobile storage silos, 11 terminal and satellite locations and three maintenance facilities. The acquisition also brings 162 drivers and 53 operational staff members to KAG.
“The transaction with XBL uniquely positions KAG to materially expand our dry bulk transportation platform in the future,” KAG President and Chief Operating Officer Grant Mitchell said. “With their impressive market position and experienced customers, we’ve expanded our geographic footprint and service offerings.”
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The PRM deal includes 39 tractors, 91 trailers, a terminal, a maintenance facility and approximately 3,000 feet of rail for transloading operations. PRM, based in White Pigeon, Mich., handles lime, sand and other dry bulk materials. The acquisition also will also see PRM’s leadership remain in place during the transition, with 33 drivers and 12 operational staff members joining KAG.
“The further expansion of our dry bulk transportation services will be supported with the latest addition of PRM, allowing us to capitalize on our growing Midwest presence,” said John Rakoczy, executive vice president for KAG Specialty Products.
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Richard Hoyle, co-founder and president of XBL, said the decision to partner with KAG was based on shared principles.
“It was important to our leadership team to find a partner who operates with the same standards that we hold ourselves to every day,” Hoyle said. “We look forward to helping KAG further develop this segment of their business.”
PRM’s owners, Shari and Tom Morris, described the acquisition as an opportunity for their team to grow.
“It’s exciting to be a part of a new platform where our employees can further grow their careers,” they said in a joint statement.
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