A major Ohio-based carrier continues its string of acquisitions.
The Kenan Advantage Group, which is based in North Canton, Ohio, acquired PRM Trucking and XBL Holdings earlier this month.
KAG acquired TransVac in August, Northern Dry Bulk in February and Florida Food Tankers in January.
Michigan-based PRM Trucking specializes in the transportation, transloading and storage of lime, sand and other dry bulk materials for foundries and manufacturing companies throughout the Midwest.
“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," John Rakoczy, executive vice president for KAG specialty products, said in a statement. "We are also fortunate to benefit from the ongoing leadership of the PRM team, who will continue their successful journey with KAG."
Financial terms of the deal were not released.
PRM Trucking has a fleet of 39 tractors, 91 trailers, a terminal and maintenance facility, and about 3,000 feet of railroad. The Kenan Advantage Group will also add 33 drivers and 12 additional operational staff.
“We are pleased to provide our expertise and knowledge to KAG in the dry bulk space,” PRM Trucking owners Shari and Tom Morris said in a statement. “It’s exciting to be a part of a new platform where our employees can further grow their careers and provide valuable insight into what we feel is a bright future for everyone involved in this transaction."
The acquisition of Texas-based XBL Holdings, and subsidiaries Xcel Bulk Logistics and XBL Industrial Materials includes 186 tractors, 365 trailers, 10 mobile storage silos, 11 terminal and satellite locations, and three maintenance facilities. Additionally, 162 drivers and 53 operational members will be added to the KAG workforce.
XBL is a dry bulk transport company, providing transportation, storage, and logistics services to industrial gas construction companies.
Grant Mitchell, President and Chief Operating Officer at KAG, said the purchase of XBL Holdings positions KAG to expand its dry bulk transportation platform.
“With its [XBL’s] impressive market position and a diverse group of tenured, blue-chip customers, we’ve solidified our entrance into a very niche marketplace.”
Terms of the deal were not disclosed.
KAG is considered the largest tank truck transporter and logistics provider, delivering fuels, chemicals, and products in North America.
