Kenan Advantage Group (KAG) subsidiary KAG Logistics (KAGL) announced Wednesday the acquisition of Canadian 3PL Connectrans Logistics.
Financial terms of the transaction were not provided.
Based in the Toronto area, Connectrans specializes in U.S.-Canada cross-border freight transportation, including truckload (dry van, temperature control and flatbed), less-than-truckload and intermodal freight, through a network of carriers.
“The acquisition of Connectrans expands our footprint into the Canadian logistics market, which is strategic to our future growth plans, particularly in our Specialty Products division,” Kevin Spencer, KAGL president stated in a news release. “It also allows us to continue strengthening our cross-border experience as we serve our current and potential Canadian and U.S. customers that flourish in both marketplaces.”
North Canton, Ohio-based KAG is the largest tank trucking company in North America with approximately 3,200 tractors and 5,700 trailers. It primarily provides bulk transportation of fuels, energy products, chemicals and food products. Its logistics arm, KAGL, acts as a broker in the same markets, providing capacity solutions, managed transportation and logistics services.
“By partnering with KAG Logistics, we will be able to offer our customers enhanced capabilities with access to the U.S. marketplace, specialized assets, industry-leading technologies and additional logistics expertise from a strong and experienced leadership team,” said Steve Hodowany, president and general manager at Connectrans.
Left Lane Associates advised Connectrans on the deal.
“Left Lane Associates is proud to have represented our sell-side client, Connectrans, and have both owners, Al Fernie & Bill Hook, pass the torch onto a great company like the Kenan Advantage Group,” Peter Stefanovich, president of Left Lane Associates told FreightWaves. “We are even more excited to see how KAG can grow outside their core specialization and synergize their skill sets into the dry van and cross border brokerage space. Congratulations to all.”
On Friday, KAG completed the acquisition of Wharton, New Jersey-based Carbon Express, which transports liquid bulk products in the U.S. and into Canada through a network of approximately 65 drivers and independent contractors.
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