Kenan Advantage Group recently announced the acquisition of Carbon Express, a move that onboards 65 company-employed and independent truck drivers.
Ranked as the largest tank transportation outfit in North America, Kenan Advantage gains expansion opportunities from the acquisition of the Wharton, N.J., bulk liquids hauler. Carbon Express carved out a niche transporting lubricant base oils and other petroleum products.
“The acquisition of Carbon Express is another great strategic fit to our expansion in the specialty products market,” Karen Rizzuto, KAG’s senior vice president of operations, reportedly said. “Their operating region and customer base complements our footprint today, but also provides additional expansion opportunities in the northeastern U.S.”
Headquartered in North Canton, Ohio, Kenan Advantage Group generates a reported annual revenue north of $1.9 billion.
NFI Expands East Coast Port Presence
The New Jersey-based NFI recently acquired MCO Transport in a move that augments its Southeastern ports reach. After adding MCO’s assets and customers, NFI will increase its export drayage services across Wilmington, North Carolina; Norfolk, Virginia; Charleston, South Carolina; as well as Savannah and Atlanta, Georgia.
Based out of Wilmington, MCO was founded as a family-owned and operated enterprise in 1976. The organization provides container drayage and truckload services between southeastern ports and hubs.
“Throughout this process, our team wanted to ensure we found a buyer that would create opportunities for our employees and our customers. It is a culture that matched what MCO has grown to expect,” MCO owner and CEO Danny McComas reportedly said. “NFI is a great fit for MCO employees because of our similar cultures—they are a family-owned business, dedicated to their employees’ growth, and have a deep commitment to their customers.”
NFI continues to grow its operations, starting with the purchase of California Cartage in 2017. In 2019, the company onboarded G&P to firmly establish a Southeast presence in port drayage. The operation negotiated a deal with the Georgia Ports Authority to operate a new transload and cross-docking facility in Savannah during the supply chain upheaval in 2021. The facility is expected to open in 2023.
With more than 16,000 employees and 65 million square feet of warehouse space, NFI generates $3.8 billion in annual revenue. The company’s assets also include a dedicated fleet of 5,170 tractors and 13,275 trailers.
Bison To Buy Pottle’s Transportation Shares
Canada-based Bison Transport plans to purchase 100 percent of Maine’s Pottle’s Transportation by Halloween.
With over 200 tractors and 750 trailers, Pottle’s is a family-owned and operated freight hauling operation that has stood for more than six decades. Run by Barry Pottle, the company earned a reputation for low truck driver turnover and robust safety culture. These were reportedly attractive reasons for Winnipeg-based Bison to acquire another American truckload outfit.
“We are excited about the next step in our U.S. growth. The investment in Pottle’s punctuates our commitment to the region, the customers and the great people we have in our business. We look forward to connecting our most recent acquisition of Hartt Transportation Inc. with Pottle’s as we continue to build Bison Transport USA,” Bison President and CEO Rob Penner reportedly said.
Bison acquired Bangor, Maine’s Hartt Transportation earlier in 2022.
Sources: ttnews.com, fleetowner.com, ccjdigital.com
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