Kenan Advantage Group Acquires Klemm Tank Lines
July 1, 2003 Kenan Advantage Group (KAG), the nation’s largest bulk transportation and logistics provider to the petroleum industry, today announced the purchase of Klemm Tank Lines, Inc. (Klemm). This purchase is part of Kenan Advantage Group’s strategic vision of creating the nation’s largest and most technologically advanced bulk carrier specializing in petroleum and niche chemicals transportation. “Our purchase of Klemm Tank Lines represents our continual search for companies that offer high value in their industry with a record of strong profitability,” said Carl Young, CFO, of the Canton, Ohio-based Kenan Advantage Group. “Klemm has a history of providing technology enhanced value-added services with a strong profit history, making it an ideal addition to the growing KAG organization.”
“Klemm is a powerhouse in the Wisconsin and northern Illinois region and has been led by a top-flight management team,” said Dennis Nash, Kenan Advantage Group CEO. “We’re delighted to announce that this team will join KAG management. They demonstrate a vitality and positive outlook about business that is a common ingredient in the KAG workplace.” Green Bay, Wisconsin-based Klemm handles a broad range of products including fuels, asphalt, liquid petroleum gas (LPG) and chemicals. Kenan Advantage Group is the nation’s largest bulk transportation and logistics provider to the petroleum industry and niche service supplier to the chemical industry. With this acquisition, the Kenan Advantage Group now operates more than 2,000 power units and 2,500 trailers in 36 states. Klemm Tank Lines Inc., (Klemm, www.klemmtanklines.com) founded in 1950, operates more than 260 power units and 410 trailers from six primary terminal locations.