Kenan Advantage Group Acquires Bulk Express, Inc.
Canton, OH, August 1, 2006 – Back on an aggressive strategic acquisition track with the assistance of new equity partner Littlejohn & Co., the Kenan Advantage Group (KAG), the nation’s largest bulk transportation and logistics services provider to the petroleum and niche’ chemicals industries, today announced the purchase of Bulk Express, Inc. (BXI).
Recognized as the premier elevated temperature products carrier in the Midwest, BXI specializes in the transportation of coal tar, asphalt products, and oils requiring insulated and heated tanks. The company operates 84 power units and 113 trailers at terminal operations in Indiana, Illinois, and Ohio, and currently generates revenues of approximately $20,000,000 annually.
“Our purchase of BXI represents our ongoing search for specialized companies that offer high value in their industry with a record of strong profitability,” said Dennis Nash, CEO, of KAG. “BXI is an outstanding organization and represents a valuable and strategic addition to our family of companies.”
Chris Powell, President of BXI, added, “we are extremely excited about the expanded capabilities and synergies KAG will provide to our customers and employees.”
Kenan Advantage Group now operates over 2200 power units and 2700 trailers nationwide through operating subsidiaries Advantage Tank Lines, Beneto Bulk Transport, BXI, Kenan Transport, Klemm Tank Lines, McDaniel Transportation, North Canton Transfer, and Petro-Chemical Transport. The company also provides specialized supply chain logistics services through KAG Logistics and KAG Ethanol Logistics.