Kenan Advantage Group (KAG) just made another power move by acquiring XBL Industrial Materials, a dry bulk transport company, along with its logistics arm, from a private equity group called Lilium.<\/p>\n
XBL is based in Weatherford, Texas, and they move bulk materials\u2014sand, salt, lime, and even construction materials. They\u2019ve got a serious setup, consisting of 186 trucks, 356 trailers, and 162 drivers on the road. Plus, they run 10 storage silos and manage 11 terminals across the Eastern U.S. They\u2019re not some small-time operation. In fact, they claim to have the largest dry bulk fleet in the Carolinas.<\/p>\n
KAG, on the other hand, is already a giant in the trucking world. They\u2019re based in North Canton, Ohio, and they\u2019ve got around 300 terminals scattered across North America. Their bread and butter is hauling bulk goods like fuel, chemicals, food products, and energy supplies. On top of that, they\u2019ve got KAG Logistics, the part of the business that finds trucking capacity, manages transportation, and handles other logistics stuff.<\/p>\n
What\u2019s interesting here is that this deal gives KAG a huge boost in the dry bulk market. KAG\u2019s president and COO, Grant Mitchell, made it clear that this acquisition is a strategic move. He even said it positions KAG to grow its dry bulk operations in a big way.<\/p>\n
Just a few days before, KAG announced they\u2019d also bought another dry bulk transporter, PRM Trucking, based in Michigan. That makes two acquisitions in one week. Financial details for both deals are under wraps, but you can tell KAG is investing heavily in this segment of the market.<\/p>\n
With industries like construction and manufacturing relying on materials like sand and salt, the demand for reliable transportation isn\u2019t going anywhere. KAG is playing smart, snapping up companies with strong market positions and experienced teams.<\/p>\n